Hoyt Lakes, Minnesota Demographics & Population 2026
During the 2020–2024 ACS period, Hoyt Lakes, Minnesota had a total population of 2,064, the 261st largest city in Minnesota, with a median household income of $65,764, which is 26% lower than the state average. The poverty rate is 7.3%.
Data vintage: U.S. Census Bureau ACS 2020–2024 5-Year Estimates · refreshed July 2026 · Methodology & source notes
Key Takeaways
- Housing is very affordable with a home-value-to-income ratio of just 1.4x.
- Unemployment rate of 13.9% is notably above the national average.
Hoyt Lakes Quick Facts
How Hoyt Lakes 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 | 2,074 | 2,064 | -0.5% |
| Median household income | $64,514 | $65,764 | +1.9% |
| Median home value | $90,700 | $93,300 | +2.9% |
How Hoyt Lakes 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+)
Hoyt Lakes Rankings in Minnesota
Explore Minnesota Rankings
Other Cities in St. Louis County
| City | Population | Median Income | Poverty | Home Value |
|---|---|---|---|---|
| Duluth | 87,093 | $68,807 | 16.8% | $242,700 |
| Hibbing | 16,057 | $55,789 | 16.2% | $130,200 |
| Hermantown | 10,218 | $90,849 | 5.4% | $382,300 |
| Virginia | 8,332 | $51,720 | 18.0% | $120,600 |
| Chisholm | 4,712 | $50,891 | 14.0% | $109,200 |
| Rice Lake | 4,153 | $89,663 | 7.2% | $309,600 |
| Eveleth | 3,448 | $50,725 | 14.8% | $97,600 |
| Ely | 3,240 | $43,901 | 13.9% | $157,300 |
| Proctor | 3,100 | $67,377 | 5.8% | $224,700 |
| Mountain Iron | 2,860 | $83,293 | 11.5% | $192,800 |
Cities Similar to Hoyt Lakes
These cities in the same state have comparable population and economic profiles.
| City | Population | Median Income | Home Value | Bachelor's+ | Poverty |
|---|---|---|---|---|---|
| Mountain Lake | 2,070 | $66,490 | $143,100 | 21.3% | 14.3% |
| Arlington | 2,065 | $68,073 | $206,300 | 16.6% | 8.6% |
| Tracy | 2,057 | $67,788 | $113,400 | 15.1% | 9.9% |
| Pequot Lakes | 2,079 | $63,699 | $289,300 | 30.0% | 6.6% |
| Slayton | 2,141 | $62,344 | $161,700 | 30.0% | 14.3% |
Population Overview
Hoyt Lakes is a small community located in Minnesota, within St. Louis County. The total population is 2,064. It ranks as the 261st most populous out of 914 Census-designated places in Minnesota.
Age Demographics
The median age in Hoyt Lakes is 42.8 years. This is 10% higher than the state median of 38.8 years. 10.9% of residents are 75 or older, suggesting a significant retirement-age population with implications for healthcare services and senior housing.
Economy, Income & Housing
The median household income in Hoyt Lakes is $65,764. This is 26% lower than the state median of $89,062. It is also 19% lower than the national median of $80,734. The poverty rate stands at 7.3%. This is 22% lower than the state poverty rate of 9.3%. The unemployment rate is 13.9%. This is 243% higher than the state rate of 4.1%. The median home value is $93,300. Housing costs are 72% lower than the state median of $329,300. With a home-value-to-income ratio of just 1.4x, Hoyt Lakes is one of the most affordable housing markets in the area. 95.7% of occupied housing units are owner-occupied. This homeownership rate is 33% higher than the state average of 72.2%.
Race & Ethnicity
Hoyt Lakes has a predominantly White (non-Hispanic) population, comprising 88.3% of all residents. Hispanic or Latino residents account for 3.8%.
Education
17.1% of residents aged 25 and older hold a bachelor's degree or higher. This is 57% 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 95.3%.
Data Sources & Methodology
All demographic data for Hoyt Lakes, 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 Hoyt Lakes, Minnesota?
Hoyt Lakes, Minnesota has a population of 2,064 according to the most recent U.S. Census ACS 5-Year Estimates.
What is the median household income in Hoyt Lakes, MN?
The median household income in Hoyt Lakes is $65,764, which is 19% lower than the national median of $80,734.
What is the poverty rate in Hoyt Lakes, MN?
The poverty rate in Hoyt Lakes is 7.3%. This means approximately 149 residents live below the federal poverty line.
What is the racial makeup of Hoyt Lakes, Minnesota?
Hoyt Lakes's population is 88.3% White, 0.0% Black, 3.8% Hispanic/Latino, and 0.0% Asian.
What is the median home value in Hoyt Lakes, MN?
The median home value in Hoyt Lakes is $93,300. The home-value-to-income ratio is 1.4x.
How educated is Hoyt Lakes, Minnesota?
17.1% of adults (25+) in Hoyt Lakes hold a bachelor's degree or higher, and 5.5% hold a graduate or professional degree.