Taylors Falls, MN
Population 1,208 · Minnesota
About Taylors Falls, MN
Taylors Falls is a small town located in Minnesota with a population of 1,208 residents according to the latest US Census Bureau American Community Survey data. The median household income is $61,548 per year, which is 18% below the national median of $75,149. The median age of 42.2 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Taylors Falls features a median home value of $256,000, which is 5% above the national median of $244,900. This positions Taylors Falls in a moderately priced market relative to the rest of the country. Median monthly rent is $985, 15% below the national average of $1,163/month. Of the 563 total housing units, 76% are owner-occupied (388 units) and 24% are renter-occupied (120 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Taylors Falls shows an unemployment rate of 2.4%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 4.8%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Taylors Falls have an average one-way commute time of 36.1 minutes, suggesting many residents commute to jobs in a nearby metro area.
Education & Demographics
20.7% of Taylors Falls residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 0.7% White, 0.9% Hispanic or Latino, 0.0% Black or African American, and 1.7% Asian residents, with 1.2% of the population being foreign-born.
Cost of Living in Taylors Falls, MN
Compared to national averages, Taylors Falls has a median household income of $61,548 (18% below the national median of $75,149). Home values average $256,000, which is 5% above the national median. Monthly rent at $985 is 15% below the US average of $1,163. Within Minnesota, Taylors Falls's income is 17% below the state average of $74,221, and home values are 25% above the state median of $204,472.
Why Live in Taylors Falls, MN?
Taylors Falls offers rent that’s lower than the national average at $985/month, and a strong job market with an unemployment rate of just 2.4%, and a low poverty rate of 4.8%, better than the national average.
Potential considerations include median household income ($61,548) that falls below the national average. However, Taylors Falls’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Taylors Falls has a population of 1,208 with a median age of 42.2 years. Compare Taylors Falls with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Taylors Falls
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Edgerton | 1,207 | $66,739 | $132,800 | Compare |
| Martin Lake | 1,203 | $120,705 | $426,100 | Compare |
| Atwater | 1,217 | $66,071 | $144,300 | Compare |
| Bagley | 1,218 | $53,417 | $135,100 | Compare |
| Medford | 1,194 | $98,375 | $234,300 | Compare |
| Spicer | 1,222 | $76,406 | $278,500 | Compare |
| Spring Grove | 1,223 | $60,221 | $148,200 | Compare |
| Truman | 1,223 | $59,095 | $100,200 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Minnesota
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Taylors Falls With Other Cities
Frequently Asked Questions about Taylors Falls
What is the population of Taylors Falls, MN?
The population of Taylors Falls, MN is 1,208 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Minnesota.
What is the median household income in Taylors Falls?
The median household income in Taylors Falls, MN is $61,548 per year, which is 18% below the national median of $75,149.
What is the median home value in Taylors Falls?
The median home value in Taylors Falls, MN is $256,000, which is 5% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Taylors Falls?
The median monthly rent in Taylors Falls, MN is $985, which is 15% below the national average of $1,163/month.
What is the unemployment rate in Taylors Falls?
The unemployment rate in Taylors Falls, MN is 2.4%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Taylors Falls, MN a good place to live?
Taylors Falls offers a moderate cost of living, a competitive housing market, and a strong job market. With a population of 1,208 and a median age of 42.2, the city appeals to a broad range of residents.
How educated is Taylors Falls, MN?
20.7% of residents in Taylors Falls aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Taylors Falls?
Key cost-of-living indicators for Taylors Falls, MN: median home value is $256,000 (5% above national), median rent is $985/month, and median household income is $61,548. The home-value-to-income ratio is 4.2x, a moderate figure by national standards.
What is the poverty rate in Taylors Falls?
The poverty rate in Taylors Falls, MN is 4.8%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Taylors Falls, MN?
Taylors Falls's population is 0.7% White, 0.9% Hispanic or Latino, 0.0% Black or African American, 1.7% Asian, and 0.7% two or more races. 1.2% of residents are foreign-born.