Truman, MN
Population 1,223 · Minnesota
About Truman, MN
Truman is a small town located in Minnesota with a population of 1,223 residents according to the latest US Census Bureau American Community Survey data. The median household income is $59,095 per year, which is 21% below the national median of $75,149. The median age of 32.1 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Truman features a median home value of $100,200, which is 59% below the national median of $244,900. This makes Truman one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $942, 19% below the national average of $1,163/month. Of the 615 total housing units, 59% are owner-occupied (327 units) and 41% are renter-occupied (229 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Truman shows an unemployment rate of 0.8%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 9.9%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Truman have an average one-way commute time of 17.5 minutes, one of the shorter commutes in the region.
Education & Demographics
19.5% of Truman 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 3.1% White, 0.3% Hispanic or Latino, 0.0% Black or African American, and 2.6% Asian residents, with 5.9% of the population being foreign-born.
How Truman Ranks in Minnesota
Cost of Living in Truman, MN
Compared to national averages, Truman has a median household income of $59,095 (21% below the national median of $75,149). Home values average $100,200, which is 59% below the national median. Monthly rent at $942 is 19% below the US average of $1,163. Within Minnesota, Truman's income is 20% below the state average of $74,221, and home values are 51% below the state median of $204,472.
Why Live in Truman, MN?
Truman offers affordable housing with a median home value of $100,200, below the US average of $244,900, and rent that’s lower than the national average at $942/month, and a strong job market with an unemployment rate of just 0.8%. Additionally, the city features a low poverty rate of 9.9%, better than the national average, and short commute times averaging just 17.5 minutes.
Potential considerations include median household income ($59,095) that falls below the national average. However, Truman’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Truman has a population of 1,223 with a median age of 32.1 years. Compare Truman with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Truman
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Spring Grove | 1,223 | $60,221 | $148,200 | Compare |
| Spicer | 1,222 | $76,406 | $278,500 | Compare |
| Bagley | 1,218 | $53,417 | $135,100 | Compare |
| Atwater | 1,217 | $66,071 | $144,300 | Compare |
| Keewatin | 1,229 | $50,872 | $78,900 | Compare |
| Taylors Falls | 1,208 | $61,548 | $256,000 | Compare |
| Edgerton | 1,207 | $66,739 | $132,800 | Compare |
| Martin Lake | 1,203 | $120,705 | $426,100 | 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 Truman With Other Cities
Frequently Asked Questions about Truman
What is the population of Truman, MN?
The population of Truman, MN is 1,223 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 Truman?
The median household income in Truman, MN is $59,095 per year, which is 21% below the national median of $75,149.
What is the median home value in Truman?
The median home value in Truman, MN is $100,200, which is 59% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Truman?
The median monthly rent in Truman, MN is $942, which is 19% below the national average of $1,163/month.
What is the unemployment rate in Truman?
The unemployment rate in Truman, MN is 0.8%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Truman, MN a good place to live?
Truman offers a moderate cost of living, affordable housing, and a strong job market. With a population of 1,223 and a median age of 32.1, the city appeals to young professionals and families.
How educated is Truman, MN?
19.5% of residents in Truman 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 Truman?
Key cost-of-living indicators for Truman, MN: median home value is $100,200 (59% below national), median rent is $942/month, and median household income is $59,095. The home-value-to-income ratio is 1.7x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Truman?
The poverty rate in Truman, MN is 9.9%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Truman, MN?
Truman's population is 3.1% White, 0.3% Hispanic or Latino, 0.0% Black or African American, 2.6% Asian, and 0.1% two or more races. 5.9% of residents are foreign-born.