Finland, Minnesota Demographics & Population 2026
During the 2020–2024 ACS period, Finland, Minnesota had a total population of 257, the 640th largest community in Minnesota, with a median household income of $53,500, which is 40% lower than the state average. The poverty rate is 19.8%.
Data vintage: U.S. Census Bureau ACS 2020–2024 5-Year Estimates · refreshed July 2026 · Methodology & source notes
Key Takeaways
- Household income is 40% below the state average, indicating significant economic challenges.
- Unemployment rate of 10.3% is notably above the national average.
Finland Quick Facts
How Finland Changed
Change from the 2019–2023 ACS period to 2020–2024. These are rolling five-year estimates, not year-over-year measurements.
| Metric | 2019–2023 | 2020–2024 | Change |
|---|---|---|---|
| Population | 220 | 257 | +16.8% |
| Median household income | $51,875 | $53,500 | +3.1% |
| Median home value | $122,600 | $181,700 | +48.2% |
How Finland Compares
Median Household Income
Median Home Value
Economy & Housing
Household Income Distribution
Detailed income brackets
Employment
Housing Overview
People & Demographics
Age Distribution
Race & Ethnicity
Diversity Index
A less diverse community where one racial or ethnic group represents a large majority.
State average: 41 | National average: 61
Education
Educational Attainment (Adults 25+)
Finland Rankings in Minnesota
Explore Minnesota Rankings
Other Cities in Lake County
| City | Population | Median Income | Poverty | Home Value |
|---|---|---|---|---|
| Two Harbors | 3,567 | $65,625 | 11.7% | $206,800 |
| Silver Bay | 1,769 | $69,489 | 9.9% | $158,900 |
| Knife River | 131 | $78,208 | 10.7% | N/A |
| Beaver Bay | 82 | $36,875 | 23.2% | $238,200 |
Cities Similar to Finland
These cities in the same state have comparable population and economic profiles.
| City | Population | Median Income | Home Value | Bachelor's+ | Poverty |
|---|---|---|---|---|---|
| Ogema | 257 | $55,250 | $73,000 | 9.5% | 38.1% |
| Wahkon | 258 | $51,750 | $235,700 | 13.8% | 11.4% |
| Williams | 237 | N/A | N/A | 4.7% | 9.7% |
| Eitzen | 281 | $53,438 | $116,800 | 22.3% | 4.6% |
| Riverland | 239 | $51,250 | N/A | 0.0% | 36.0% |
A note before these figures: with a population of 257, Finland's ACS estimates come from a small number of survey responses and carry wide margins of error. Individual percentages below — particularly rates that round to 0% or 100% — are approximations, not precise measurements. See data.census.gov for the published margins of error.
Population Overview
Finland is a small community located in Minnesota, within Lake County. The total population is 257. It ranks as the 640th most populous out of 914 Census-designated places in Minnesota.
Age Demographics
The median age in Finland is 54.8 years. This is 41% higher than the state median of 38.8 years. Only 7.8% of residents are under 18, indicating fewer families with children.
Economy, Income & Housing
The median household income in Finland is $53,500. This is 40% lower than the state median of $89,062. It is also 34% lower than the national median of $80,734. The poverty rate stands at 19.8%. This is 113% higher than the state poverty rate of 9.3%. The unemployment rate is 10.3%. This is 153% higher than the state rate of 4.1%. The median home value is $181,700. Housing costs are 45% lower than the state median of $329,300. The home-value-to-income ratio is 3.4x. 85.7% of occupied housing units are owner-occupied. This homeownership rate is 19% higher than the state average of 72.2%.
Race & Ethnicity
Finland has a predominantly White (non-Hispanic) population, comprising 97.7% of all residents. Hispanic or Latino residents account for 1.2%. The Hispanic or Latino population (1.2%) is well below the state average of 6.4%.
Education
13.7% of residents aged 25 and older hold a bachelor's degree or higher. This is 65% lower than the state rate of 39.4%. Nationally, 35.7% of adults hold at least a bachelor's degree. The high school graduation rate (or equivalent) is 90.8%.
Data Sources & Methodology
All demographic data for Finland, Minnesota is sourced from the U.S. Census Bureau's American Community Survey (ACS) 2020–2024 5-Year Estimates. The ACS collects data from approximately 3.5 million households annually and pools five years of responses so that even small communities can be measured, though the margin of error widens as the population falls. Comparisons are made against Minnesota state averages and national averages calculated from the same dataset. Rankings reflect the city's position among all 914 Census-designated places in Minnesota. Read more about how these figures are produced on our methodology page, or visit data.census.gov for official data.
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Frequently Asked Questions
What is the population of Finland, Minnesota?
Finland, Minnesota has a population of 257 according to the most recent U.S. Census ACS 5-Year Estimates.
What is the median household income in Finland, MN?
The median household income in Finland is $53,500, which is 34% lower than the national median of $80,734.
What is the poverty rate in Finland, MN?
The poverty rate in Finland is 19.8%. This means approximately 51 residents live below the federal poverty line.
What is the racial makeup of Finland, Minnesota?
Finland's population is 97.7% White, 0.0% Black, 1.2% Hispanic/Latino, and 0.0% Asian.
What is the median home value in Finland, MN?
The median home value in Finland is $181,700. The home-value-to-income ratio is 3.4x.
How educated is Finland, Minnesota?
13.7% of adults (25+) in Finland hold a bachelor's degree or higher, and 6.2% hold a graduate or professional degree.