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Hoyt Lakes, Minnesota

Last updated: 2024 BLS data · Page refreshed:

City Profile — Demographics, Income, Education & Housing
Data: U.S. Census Bureau, American Community Survey 2024 5-Year Estimates
2,064
Population
$65,764
Median Income
$93,300
Home Value
42.8
Median Age

Demographics

Hoyt Lakes has a population of 2,064 with a median age of 42.8. Here is the racial and ethnic breakdown of the population:

White
89.0%
Other
7.2%
Hispanic
3.8%
Demographic Value
Total Population2,064
Median Age42.8
White89.0%
Hispanic or Latino3.8%
Other / Two or More Races7.2%
Hoyt Lakes, Minnesota — racial composition (Census ACS 2024)Donut chart of 3 segments totaling 100.White: 89.0%Other: 7.2%Hispanic/Latino: 3.8%2,064PopulationWhiteWhite89.0%OtherOther7.2%Hispanic/LatinoHispanic/Latino3.8%

Income & Economy

The median household income in Hoyt Lakes is $65,764, which is 18.4% below the national median of $80,610. The per capita income is $31,446. The poverty rate is 7.3%.

$65,764
Median Household Income
$31,446
Per Capita Income
7.3%
Poverty Rate

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Education

In Hoyt Lakes, 95.3% of residents age 25+ have a high school diploma or higher, and 17.1% hold a bachelor's degree or higher (5.5% with a graduate or professional degree).

HS Diploma+
95.3%
Bachelor's+
17.1%
Graduate+
5.5%
Education Level % of Adults (25+)
High School Diploma or Higher95.3%
Bachelor's Degree or Higher17.1%
Graduate or Professional Degree5.5%

Housing

The median home value in Hoyt Lakes is $93,300, below the national median of $303,400. The median monthly rent is $1,550. The homeownership rate is 95.7%.

$93,300
Median Home Value
$1,550/mo
Median Rent
95.7%
Homeownership Rate
Housing Metric Value
Median Home Value$93,300
Median Monthly Rent$1,550
Homeownership Rate95.7%
Vacancy Rate12.1%

Salaries in Minnesota

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Frequently Asked Questions

What is the population of Hoyt Lakes, Minnesota?
The population of Hoyt Lakes, Minnesota is 2,064 according to U.S. Census Bureau ACS 2024 5-Year Estimates.
What is the median household income in Hoyt Lakes, Minnesota?
The median household income in Hoyt Lakes, Minnesota is $65,764. This is 18.4% below the national median of $80,610.
What is the median home value in Hoyt Lakes, Minnesota?
The median home value in Hoyt Lakes, Minnesota is $93,300. The median monthly rent is $1,550.
What percentage of people in Hoyt Lakes have a college degree?
In Hoyt Lakes, Minnesota, 17.1% of adults age 25 and older hold a bachelor's degree or higher, and 95.3% have a high school diploma or higher.
Is Hoyt Lakes, Minnesota an affordable place to live?
The home price-to-income ratio in Hoyt Lakes, Minnesota is 1.4x (median home value $93,300 vs. median income $65,764), making it relatively affordable by that measure. A ratio under 4.0 is generally considered affordable.

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