Waterville, MN
Population 1,778 · Minnesota
About Waterville, MN
Waterville is a small town located in Minnesota with a population of 1,778 residents according to the latest US Census Bureau American Community Survey data. The median household income is $67,721 per year, which is 10% below the national median of $75,149. The median age of 45.1 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 Waterville features a median home value of $216,700, which is 12% below the national median of $244,900. This positions Waterville in a moderately priced market relative to the rest of the country. Median monthly rent is $835, 28% below the national average of $1,163/month. Of the 1,008 total housing units, 77% are owner-occupied (648 units) and 23% are renter-occupied (197 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Waterville shows an unemployment rate of 5.9%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 11.5%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Waterville have an average one-way commute time of 25.8 minutes.
Education & Demographics
17.1% of Waterville 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 4.4% White, 2.2% Hispanic or Latino, 1.1% Black or African American, and 1.0% Asian residents, with 0.4% of the population being foreign-born.
Cost of Living in Waterville, MN
Compared to national averages, Waterville has a median household income of $67,721 (10% below the national median of $75,149). Home values average $216,700, which is 12% below the national median. Monthly rent at $835 is 28% below the US average of $1,163. Within Minnesota, Waterville's income is 9% below the state average of $74,221, and home values are 6% above the state median of $204,472.
Why Live in Waterville, MN?
Waterville offers affordable housing with a median home value of $216,700, below the US average of $244,900, and rent that’s lower than the national average at $835/month, and a low poverty rate of 11.5%, better than the national average.
Potential considerations include median household income ($67,721) that falls below the national average. However, Waterville’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Waterville has a population of 1,778 with a median age of 45.1 years. Compare Waterville with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Waterville
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Rushford | 1,790 | $73,321 | $203,200 | Compare |
| Silver Bay | 1,790 | $70,870 | $150,700 | Compare |
| Kenyon | 1,811 | $74,643 | $184,500 | Compare |
| Mapleton | 1,745 | $82,031 | $176,400 | Compare |
| Nisswa | 1,744 | $100,167 | $475,700 | Compare |
| Mountain Lake | 1,833 | $59,115 | $118,900 | Compare |
| Ada | 1,834 | $67,857 | $140,500 | Compare |
| Rock Creek | 1,711 | $99,500 | $294,800 | 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 Waterville With Other Cities
Frequently Asked Questions about Waterville
What is the population of Waterville, MN?
The population of Waterville, MN is 1,778 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 Waterville?
The median household income in Waterville, MN is $67,721 per year, which is 10% below the national median of $75,149.
What is the median home value in Waterville?
The median home value in Waterville, MN is $216,700, which is 12% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Waterville?
The median monthly rent in Waterville, MN is $835, which is 28% below the national average of $1,163/month.
What is the unemployment rate in Waterville?
The unemployment rate in Waterville, MN is 5.9%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Waterville, MN a good place to live?
Waterville offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 1,778 and a median age of 45.1, the city appeals to established professionals and retirees.
How educated is Waterville, MN?
17.1% of residents in Waterville 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 Waterville?
Key cost-of-living indicators for Waterville, MN: median home value is $216,700 (12% below national), median rent is $835/month, and median household income is $67,721. The home-value-to-income ratio is 3.2x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Waterville?
The poverty rate in Waterville, MN is 11.5%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Waterville, MN?
Waterville's population is 4.4% White, 2.2% Hispanic or Latino, 1.1% Black or African American, 1.0% Asian, and 1.1% two or more races. 0.4% of residents are foreign-born.