Income & Economy in Hoyt Lakes, MN
Household income, poverty rates, employment, and economic data — 2023 ACS Data
Income Overview
Source: U.S. Census Bureau ACS (2023)Median Household Income
$64,514
-12% vs national
Per Capita Income
$29,087
-22% vs national
Poverty Rate
10.1%
-26% vs national
Gini Index
0.3788
0 = perfect equality
Unemployment
15.7%
+203% vs national
SNAP Recipients
7.8%
of households
How Hoyt Lakes Compares
Source: Census ACS (2023)Hoyt Lakes vs Similar Cities
Source: Census ACS (2023)Compared to cities with under 10,000 residents. Hoyt Lakes is highlighted.
Median Household Income
Per Capita Income
Poverty Rate
Unemployment Rate
Where Do You Stack Up?
Enter your household income to see how you compare to other households in Hoyt Lakes. The median household income here is $64,514.
Income Distribution
Source: U.S. Census Bureau ACS (2023)Employment Snapshot
Source: U.S. Census Bureau ACS (2023)Unemployment Rate
15.7%
+250% vs MN avg
Labor Force
934
Employed
787
How People Get to Work
Source: Census ACS (2023)Employment by Sector
Source: Census ACS (2023)Education & Workforce
Source: U.S. Census Bureau ACS (2023)Bachelor's Degree+
12.2%
of adults 25+
High School Diploma+
30.8%
of adults 25+
Median Age
42.2
Work from Home
20.3%
of workers
The median household income in Hoyt Lakes, MN is $64,514, which is 11.9% below the national average of $73,224. Per capita income is $29,087. The poverty rate of 10.1% is lower than the MN state average of 11.4%. The Gini index of income inequality is 0.3788, where 0 represents perfect equality and 1 represents maximum inequality. The unemployment rate is 15.7%, compared to the state average of 4.5%. 12.2% of adults hold a bachelor's degree or higher.