Winsted, MN
Population 2,023 · Minnesota
About Winsted, MN
Winsted is a small town located in Minnesota with a population of 2,023 residents according to the latest US Census Bureau American Community Survey data. The median household income is $70,208 per year, which is 7% below the national median of $75,149. The median age of 46.3 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 Winsted features a median home value of $210,200, which is 14% below the national median of $244,900. This positions Winsted in a moderately priced market relative to the rest of the country. Median monthly rent is $797, 31% below the national average of $1,163/month. Of the 1,025 total housing units, 75% are owner-occupied (724 units) and 25% are renter-occupied (242 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Winsted shows an unemployment rate of 1.4%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 11.3%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Winsted have an average one-way commute time of 30 minutes.
Education & Demographics
14.3% of Winsted 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 0.0% White, 3.5% Hispanic or Latino, 0.0% Black or African American, and 2.7% Asian residents, with 2.4% of the population being foreign-born.
Cost of Living in Winsted, MN
Compared to national averages, Winsted has a median household income of $70,208 (7% below the national median of $75,149). Home values average $210,200, which is 14% below the national median. Monthly rent at $797 is 31% below the US average of $1,163. Within Minnesota, Winsted's income is 5% below the state average of $74,221, and home values are 3% above the state median of $204,472.
Why Live in Winsted, MN?
Winsted offers affordable housing with a median home value of $210,200, below the US average of $244,900, and rent that’s lower than the national average at $797/month, and a strong job market with an unemployment rate of just 1.4%. Additionally, the city features a low poverty rate of 11.3%, better than the national average.
Potential considerations include median household income ($70,208) that falls below the national average. However, Winsted’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Winsted has a population of 2,023 with a median age of 46.3 years. Compare Winsted with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Winsted
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Rice | 1,998 | $103,482 | $237,600 | Compare |
| Stacy | 1,992 | $76,875 | $222,800 | Compare |
| Esko | 2,063 | $116,406 | $278,800 | Compare |
| St. Bonifacius | 1,982 | $116,500 | $342,400 | Compare |
| Warroad | 2,067 | $50,685 | $195,000 | Compare |
| Blooming Prairie | 1,977 | $63,929 | $155,800 | Compare |
| Gaylord | 2,074 | $60,500 | $163,300 | Compare |
| Hoyt Lakes | 2,074 | $64,514 | $90,700 | 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 Winsted With Other Cities
Frequently Asked Questions about Winsted
What is the population of Winsted, MN?
The population of Winsted, MN is 2,023 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 Winsted?
The median household income in Winsted, MN is $70,208 per year, which is 7% below the national median of $75,149.
What is the median home value in Winsted?
The median home value in Winsted, MN is $210,200, which is 14% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Winsted?
The median monthly rent in Winsted, MN is $797, which is 31% below the national average of $1,163/month.
What is the unemployment rate in Winsted?
The unemployment rate in Winsted, MN is 1.4%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Winsted, MN a good place to live?
Winsted offers a moderate cost of living, affordable housing, and a strong job market. With a population of 2,023 and a median age of 46.3, the city appeals to established professionals and retirees.
How educated is Winsted, MN?
14.3% of residents in Winsted 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 Winsted?
Key cost-of-living indicators for Winsted, MN: median home value is $210,200 (14% below national), median rent is $797/month, and median household income is $70,208. The home-value-to-income ratio is 3.0x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Winsted?
The poverty rate in Winsted, MN is 11.3%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Winsted, MN?
Winsted's population is 0.0% White, 3.5% Hispanic or Latino, 0.0% Black or African American, 2.7% Asian, and 0.4% two or more races. 2.4% of residents are foreign-born.