1st Advantage MortgageIn Lyon County, Minnesota, the typical household earns $75,303 a year and the typical rent is $781. Whatever your own numbers, compare written offers on APR, fees and total cost, and verify the lender is licensed in Minnesota before sharing details.
On this page
- A quick profile of Lyon County
- What it costs to live in Lyon County
- Paychecks and income spread in Lyon County
- Work, industries and travel time in Lyon County
- Cities, towns and CDPs in Lyon County
- Lyon County next to its neighbors
- What a median Lyon County budget can carry
- Borrowing situations common in Lyon County
- Lyon County households compared
- Before you sign
- Checking a lender's license in Minnesota
- Nearby and statewide guides
- Frequently asked questions
A quick profile of Lyon County
With an estimated 25,503 residents (ACS 2020 to 2024), Lyon County ranks 42nd of 87 in Minnesota for population. Land area is 714 square miles (2024 Gazetteer), so density runs near 36 per square mile. No metropolitan area includes Lyon County in the 2023 federal delineation, so its numbers stand on their own rather than as part of a metro. Marshall is the biggest of its 11 Census places, at roughly 13,896 people (54% of the county total).
What it costs to live in Lyon County
Median gross rent, utilities included, comes to $781 in Lyon County versus $1,280 statewide. Rent takes 30% or more of income for 43% of renter households here. Home values center on $200,700, or 2.7 years of median income. The ownership rate is 72%. Median construction year: 1972.
| Cost | Lyon County | Minnesota figure | Median county, U.S. |
|---|---|---|---|
| Median gross rent | $781/mo | $1,280/mo | $877/mo |
| Median home value | $200,700 | $329,300 | $185,300 |
| Owners | 72% | 72% | 75% |
| Rent-burdened renters | 43% | 48% | 45% |
| Burdened owners | 20% | 23% | n/a |
| Vacant units | 10% | 9% | n/a |
Because most Lyon County households own, home repairs are a frequent reason to borrow. An unsecured personal loan leaves the house out of the deal, while a HELOC uses it as collateral.
Paychecks and income spread in Lyon County
Half of Lyon County households take in less than $75,303 a year and half take in more, 15% below the Minnesota median of $89,062. Only 38 Minnesota counties post a higher median.
| Household income | Lyon County | vs Minnesota |
|---|---|---|
| Under $35,000 | 23.7% | +6.4 pts |
| $35,000 to $99,999 | 40.7% | +2.6 pts |
| $100,000 to $199,999 | 27.2% | -3.6 pts |
| $200,000 or more | 8.4% | -5.5 pts |
Some 24% of households here live on less than $35,000 a year; 36% have six-figure incomes. The poverty rate is 12.2%, 3 points higher than the state's 9.3%. None of these numbers decides a Lyon County application. Lenders weigh your own documented income against your own debts.
Work, industries and travel time in Lyon County
Education and health care employs 27% of working residents, the largest share; retail trade is next with 12%. Compared with Minnesota, the county leans toward agriculture, forestry and mining (7% against 2%). The survey's unemployment rate for Lyon County averages 3.2% over 2020 to 2024 (state: 4.1%). Long commutes are the exception here: 5% of workers spend 45 minutes or longer getting to work. 8.3% of households have no vehicle.
| Industry | Share of Lyon County workers | vs Minnesota |
|---|---|---|
| Education and health care | 26.5% | +0.7 pts |
| Retail trade | 11.9% | +1.2 pts |
| Manufacturing | 11.7% | -1.6 pts |
| Finance, insurance and real estate | 9.8% | +2.6 pts |
| Arts, lodging and food service | 7.0% | -0.1 pts |
| Agriculture, forestry and mining | 6.7% | +4.6 pts |
Shorter commutes usually mean lower vehicle costs, which can leave more room for a payment, or for paying a loan off early.
Cities, towns and CDPs in Lyon County
The table lists the 11 largest of 11 Census places in Lyon County, by population. Together all 11 hold about 20,639 people, so roughly 19% of residents live outside any named place. Among places of 500 or more people, median income runs from $54,688 in Balaton to $97,500 in Cottonwood. Median rent ranges from $640 in Minneota to $1,138 in Balaton. Live in one of these Lyon County communities, or between them? This is your local guide.
| Town or CDP | Type | People | Median household income | Median gross rent | Miles from center |
|---|---|---|---|---|---|
| Marshall | city | 13,896 | $68,566 | $779 | 4 mi |
| Tracy | city | 2,057 | $67,788 | $697 | 16 mi |
| Minneota | city | 1,594 | $74,091 | $640 | 13 mi |
| Cottonwood | city | 1,061 | $97,500 | $683 | 16 mi |
| Balaton | city | 551 | $54,688 | $1,138 | 12 mi |
| Ghent | city | 439 | $94,000 | $936 | 7 mi |
| Lynd | city | 428 | $79,167 | $1,156 | 1 mi |
| Russell | city | 346 | $57,083 | $596 | 8 mi |
| Taunton | city | 128 | $45,313 | $613 | 17 mi |
| Garvin | city | 114 | $43,438 | n/a | 14 mi |
| Florence | city | 25 | $64,583 | n/a | 16 mi |
Lyon County next to its neighbors
The six counties whose centers lie closest to Lyon County's, from 21 to 43 miles away. Murray County leads the group on income ($74,033), Redwood County trails ($67,866), and Lyon County out-earns 6 of the six.
| County | Distance | Median income | Median rent | Owners |
|---|---|---|---|---|
| Lyon County | - | $75,303 | $781/mo | 72% |
| Lincoln County, MN | 21 mi | $69,694 | $674/mo | 81% |
| Yellow Medicine County, MN | 21 mi | $74,000 | $678/mo | 84% |
| Murray County, MN | 28 mi | $74,033 | $810/mo | 82% |
| Redwood County, MN | 29 mi | $67,866 | $757/mo | 78% |
| Pipestone County, MN | 34 mi | $69,628 | $754/mo | 81% |
| Cottonwood County, MN | 43 mi | $72,941 | $817/mo | 74% |
What a median Lyon County budget can carry
Here is the Lyon County median household run through a simple DTI check. Your numbers will differ.
- $6,275 a month: gross income for a household at the Lyon County median
- 12% goes to median rent ($781)
- With a 36% ceiling, about $1,478 remains for car, card, student and any new loan payments
- 43% debt-to-income limit: $1,917 left for all other debt payments
Subtract what you already pay on other debts. A new payment should fit in what remains, with some to spare.
Borrowing situations common in Lyon County
Where the Lyon County numbers stand out, and why it matters for a loan:
- Check your file. An error fixed before you apply can change the offers a Lyon County borrower sees (free reports).
- Consolidating cards in Lyon County. Compare the total repaid, not the monthly figure (how).
- Scams. A fee demanded before funding is a red flag; report it at ReportFraud.ftc.gov (spotting scams).
Lyon County households compared
College graduates make up 31% of the adult population. The uninsured rate is 6.1%, against 4.7% for Minnesota.
| People and households | Lyon County | Minnesota | Median county |
|---|---|---|---|
| Median age | 37.4 | 38.8 | 41.5 |
| Bachelor's or higher | 31.1% | 39.4% | 22.2% |
| No high school diploma | 7.6% | 6.1% | n/a |
| No health insurance | 6.1% | 4.7% | 7.8% |
| No vehicle | 8.3% | 6.7% | 5.4% |
| Work from home | 12.4% | 17.6% | 8.7% |
| Poverty rate | 12.2% | 9.3% | 13.2% |
| Unemployment (ACS) | 3.2% | 4.1% | 4.4% |
| Travel time to work | Workers |
|---|---|
| Under 15 min | 62.6% |
| 15 to 29 min | 23.9% |
| 30 to 44 min | 8.8% |
| 45 to 59 min | 1.7% |
| 60+ min | 3.0% |
Before you sign
Steps that save money for Lyon County residents:
- Borrow the amount the job needs; extra cash adds interest.
- Shop at least three lenders, including one Lyon County-area credit union.
- Look the lender up with the state regulator first.
- Ask about early-payoff penalties.
Checking a lender's license in Minnesota
Licensing happens at the state level, so a lender working with Lyon County borrowers answers to the Minnesota Department of Commerce. Problems with a lender can also go to the CFPB. Statewide data and rules: Minnesota guide.
Nearby and statewide guides
For statewide rules and data, see the Minnesota guide.
Frequently asked questions
What is the median household income in Lyon County?
$75,303 a year in the 2020 to 2024 Census survey, versus $89,062 for Minnesota. It ranks 39th of 87 in the state.
Is Lyon County expensive for renters?
Median rent is $781 against $1,280 statewide, and 43% of renter households are cost-burdened.
Which towns does the Lyon County guide cover?
Every community in the county, unincorporated areas included. The largest of its 11 Census places: Marshall, Tracy, Minneota, Cottonwood, Balaton.
Does my county matter to the questionnaire?
Only your state does. Whether you live in Lyon County or elsewhere in Minnesota, the same rules apply.
Who do I complain to about a lender in Lyon County?
Start with the Minnesota Department of Commerce, then the CFPB complaint portal. Keep copies of every message.