Balsam, MN

Comprehensive Demographic, Economic, and Housing Data Profile

Living in Balsam, MN: Quick Facts & Overview

  • Population: 621 residents (12 people per sq. mi.)
  • Average House Price: $240,533
  • Average Household Income: $66,111

Balsam, MN is located in the state of Minnesota. It is home to about 621 people, with around 12 residents living in every square mile.

If you want to buy a house in Balsam, the average price is around $240,533. That makes local housing 8% lower than the Minnesota average of $260,056, and 22% lower than the national average of $308,592.

The average household in Balsam earns about $66,111 a year. This income is 19% lower than the average family in Minnesota ($82,068), and 16% lower than the national average ($78,686).

Population 621
Median Household Income $66,111
Median Home Value $240,533
Median Age 55.7 yrs

Household Income Brackets

Racial & Ethnic Demographics

Age Distribution

Educational Attainment

Economic & Labor Indicators

Individual Median Income$42,540
Labor Force Participation53.1%
Unemployment Rate6.3%
Average Commute Time29.8 mins

Housing & Community Metrics

Home Ownership Rate90.2%
Median Rent$738
Rent Burdened (>30% Income)14.5%
Total Housing Units264

Additional Census & Housing Profile

Geographic Overview

CountyAitkin
County FIPS27001
Metro Area (CBSA)-
Population Density12.2/sq mi
Coordinates (lat/lng)46.7811, -93.1561
TimezoneAmerica/Chicago
National Ranking4
IncorporatedNo

Household Structure

Average Family Size3.01
Dual Income Families41.7%

Marital Status

Married53.2%
Never Married25.0%
Divorced17.6%
Widowed4.3%

Gender

Male46.7%
Female53.3%

Health & Poverty

Uninsured Rate (Health)8.4%
Poverty Rate3.4%

Key Population Groups

Veterans10.5%
Disabled Population13.4%
Limited English Proficiency-

All ZIP Codes in Balsam

ZIP Code Population Median Household Income Median Home Value
55787 621 $66,111 $240,533

Nearby Cities

City Distance Population
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Floodwood, MN 14.7 miles 497
Cromwell, MN 15.1 miles 423
Palisade, MN 16.5 miles 148
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Willow River, MN 35.3 miles 342
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Coleraine, MN 36.2 miles 2,150
Carlton, MN 36.4 miles 875
Esko, MN 37.4 miles 1,813
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Calumet, MN 37.6 miles 279
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Marble, MN 38.3 miles 669
Emily, MN 38.4 miles 693
Rutledge, MN 38.7 miles 275
Cohasset, MN 39 miles 2,703
Taconite, MN 39.4 miles 468
Remer, MN 40.5 miles 371
Cuyuna, MN 41 miles 250
Deerwood, MN 41.2 miles 710
Finlayson, MN 41.2 miles 267
Nashwauk, MN 41.4 miles 926
Keewatin, MN 42.9 miles 1,215
Crosby, MN 43 miles 2,218
Hermantown, MN 43.3 miles 10,218
Hibbing, MN 43.7 miles 16,057
Proctor, MN 44 miles 3,100
Fifty Lakes, MN 44.2 miles 478
Askov, MN 44.6 miles 304
Ironton, MN 45 miles 621
Trommald, MN 45 miles 123
Crosslake, MN 45.1 miles 2,521
Garrison, MN 46.1 miles 156
Isle, MN 46.7 miles 695
Oliver, WI 46.7 miles 462
Sandstone, MN 47.1 miles 2,482
Riverton, MN 47.9 miles 145
Duluth, MN 48.1 miles 119,372
Deer River, MN 48.8 miles 889
Wahkon, MN 48.9 miles 258
Rice Lake, MN 49.9 miles 4,153
Chisholm, MN 50.5 miles 4,712
Vineland, MN 50.9 miles 674