Race & Ethnicity
Age Breakdown
Key Indicators
| Median Age | 40.9 yrs |
|---|---|
| Avg HH Size | 2.35 |
| Below Poverty | 8.2% ▼ 18% below avg |
| College Grads | 45.3% ▲ 17% above avg |
| Unemployment | 3.4% ▼ 30% below avg |
| No HS Diploma | 5 (0.6%) |
| HS Graduate | 230 (26.3%) |
| Some College | 103 (11.8%) |
| Associates | 140 (16%) |
| Bachelors | 143 (16.4%) |
| Graduate Degree | 252 (28.9%) |
Education
Housing Tenure
Home Value Distribution
Financials
| Median HH Income | $67,177 ▼ 12% below avg |
|---|---|
| Median Home Value | $191,900 ▼ 31% below avg |
| Home/Income Ratio | 2.9x (nat avg ~3.5x) |
| Median Rent | $1,057/mo |
| Total Housing Units | 561 |
| Vacant Units | 35 |
Income Distribution
How People Get to Work
Commute Time
Year Built
Balaton is a city in Minnesota, located in Lyon County. The city spans 1 ZIP code and is home to approximately 1,262 residents. It is a middle-aged city, with a median age of 40.9 years.
Economically, Balaton is a solidly middle-class community. The median household income of $67,177 is near the national average. Approximately 8.2% of residents live below the poverty line. The unemployment rate is 3.4%, below the national average.
The real estate market in Balaton is an affordable housing market. Median home values stand at $191,900, which is below the national average. Renters typically pay around $1,057 per month. Homeownership is high at 82.3%, typical of suburban and family-oriented communities.
The population of Balaton is well-educated. 45.3% of adults hold a bachelor's degree or higher — above the national average. The community is primarily White (93.26%).
Balaton, MN offers residents a cost-conscious lifestyle within Minnesota.
| ZIP | Population | Median Income | Median Home | Median Rent | Unemp. | College | Owner Occ. |
|---|---|---|---|---|---|---|---|
| 56115 | 1,262 | $67,177 | $191,900 | $1,057 | 3.4% | 45.3% | 82.3% |