Underwood, MN
Population 437 · Minnesota
About Underwood, MN
Underwood is a small community in Minnesota with a population of 437 residents. The median household income is $73,750 per year, which is above the national average. The median age in Underwood is 38.8 years.
Housing in Underwood has a median home value of $168,800 and median monthly rent of $1,016. Of the 205 total housing units, the majority are owner-occupied, with 151 owner-occupied and 28 renter-occupied units.
The unemployment rate in Underwood is 2.7% and the poverty rate is 14.0%. 25.9% of residents hold a bachelor's degree or higher. The average commute time is 19.6 minutes.
Cost of Living in Underwood, MN
Compared to national averages, Underwood has a median household income of $73,750 (2% below the national median of $75,149). Home values average $168,800, which is 31% below the national median. Monthly rent at $1,016 is 13% below the US average of $1,163. Within Minnesota, Underwood's income is 1% below the state average of $74,221, and home values are 17% below the state median of $204,472.
Why Live in Underwood, MN?
Underwood offers affordable housing with a median home value of $168,800, below the US average of $244,900, and rent that’s lower than the national average at $1,016/month, and a strong job market with an unemployment rate of just 2.7%. Additionally, the city features short commute times averaging just 19.6 minutes.
Potential considerations include median household income ($73,750) that falls below the national average. However, Underwood’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Underwood has a population of 437 with a median age of 38.8 years. Compare Underwood with other cities to see how it stacks up, or explore all cities in Minnesota.
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Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Underwood
What is the population of Underwood, MN?
The population of Underwood, MN is 437 according to the latest Census data.
What is the median household income in Underwood?
The median household income in Underwood, MN is $73,750 per year.
What is the median home value in Underwood?
The median home value in Underwood, MN is $168,800.
What is the average rent in Underwood?
The median monthly rent in Underwood, MN is $1,016.
What is the unemployment rate in Underwood?
The unemployment rate in Underwood, MN is 2.7%.