Waterville, MN demographics:
population, income, and more

Total population
1,947
9.5% year-over-year change
Median household income
$76,406/yr
12.8% year-over-year change
Housing units
1,050
4.2% year-over-year change

Waterville population

How many people live in Waterville

Waterville is home to 1,947 residents, according to the most recent Census data. Gender-wise, 48.6% of Waterville locals are male, and 51.4% are female.

Total population
1,947
9.5% year-over-year change
Gender ratio
Male
48.6%
947
Female
51.4%
1,000
Value Percent YoY change
Male 947 48.6% 7.2%
Female 1,000 51.4% 11.7%
A higher population often means more rental variety and livelier areas. The gender balance—how many men live here compared to women—can reveal a lot about the community and the lifestyles of its residents. Use this info to get a sense of the area's pace and personality.

Age demographics

The median age in Waterville is 44, with the population distributed as follows: about 14.8% are children under 15, then 11.4% are in the 15 to 24 age group. Adults between 25 and 44 make up 24.4% of the population, while another 27.7% fall into the 45 to 64 bracket. Finally, around 21.7% are 65 or older.

Median age
43.8
Age breakdown
Under 15
14.8%
15 to 24
11.4%
25 to 44
24.4%
45 to 64
27.7%
Over 65
21.7%
Value Percent YoY change
Under 15 288 14.8% 15.2%
15 to 24 222 11.4% 6.7%
25 to 44 476 24.4% 11.7%
45 to 64 539 27.7% 1.3%
Over 65 422 21.7% 16.6%
The age composition helps you get insight into who lives in the area. A younger population might mean a more active, fast-paced vibe, while an older one could suggest a quieter, slower lifestyle. If there's a balanced makeup, you’re likely to find a variety of services, housing types, and community spaces that cater to different life stages.

Racial makeup

In Waterville, 97.5% of the population are US-born citizens, while 2.4% have gained naturalized citizenship. At the same time, 0.2% of residents are non-citizens. As for race, 89.2% of locals are Caucasian, 1.3% are African American and 1.1% have Asian roots. There’s also a share of 3.1% that includes residents with two or more races.

Citizenship
U.S.-born citizens
97.5%
Non-U.S.-born citizens
2.4%
Non-citizens
0.2%
Value Percent YoY change
U.S.-born citizens 1,898 97.5% 9.2%
Non-U.S.-born citizens 46 2.4% 24.3%
Non-citizens 3 0.2% 0.0%
Racial breakdown
White
89.2%
Black or African American
1.3%
American Indian and Alaska Native
1.6%
Asian
1.1%
Native Hawaiian and other Pacific Islander
0%
Two or more races
3.1%
Other
3.6%
Value Percent
White 1,736 89.2%
Black or African American 26 1.3%
American Indian and Alaska Native 31 1.6%
Asian 22 1.1%
Two or more races 61 3.1%
Other 71 3.6%

Households in Waterville

A peek inside Waterville households

Waterville has 889 households, with an average of 2 members in each. Of these, 63.4% are families, while the remaining 36.6% are made up of individuals living alone or with non-relatives, such as roommates.

Households stats

Total households
889
5.2% year-over-year change
Average people per household
2
Non-family households
325
Family households
564
Value Percent YoY change
Non-family households 325 36.6% -0.9%
Family households 564 63.4% 9.1%
The mix between family and non-family households gives a glimpse into daily life. A higher percentage of families might mean more parks and schools, while more non-family setups can mean flexible housing and diverse living styles. For renters, this can signal what kinds of homes are common and can help you figure out if the area matches your lifestyle.

Housing in Waterville

The housing landscape of Waterville

Waterville's housing consists of 1,050 units, with 77.3% being detached single-family homes ideal for those wanting space. Attached options, including duplexes and townhouses, make up 2.6% and offer a more compact, shared living style. Then there are the multifamily buildings in the area, and for those seeking flexibility, non-traditional options like mobile homes account for 1% of the housing landscape.

Housing units
1,050
4.2% year-over-year change
Housing types
Value Percent
1 unit, detached 812 77.3%
1 unit, attached 27 2.6%
2 units 85 8.1%
3 or 4 units 12 1.1%
5 to 9 units 29 2.8%
10 to 19 units 56 5.3%
20 to 49 units 12 1.1%
50 or more units 6 0.6%
Mobile home 11 1%
Homes built since 2020
0
% year-over-year change

The age of buildings in Waterville

In Waterville, the median construction year is 1968. About 28.2% of homes were built before the 1940s, with another 5.3% going up by 1949. Most development happened in the second half of the 20th century.

Construction year breakdown by decade
Value Percent YoY change
Built in 1939 or earlier 296 28.2% 9.6%
Built between 1940 and 1949 56 5.3% 21.7%
Built between 1950 and 1959 105 10% -11.8%
Built between 1960 and 1969 85 8.1% -16.7%
Built between 1970 and 1979 149 14.2% 21.1%
Built between 1980 and 1989 42 4% -16.0%
Built between 1990 and 1999 206 19.6% 21.9%
Built between 2000 and 2009 71 6.8% 0.0%
Built between 2010 and 2019 40 3.8% -31.0%
As a renter, knowing when homes were built helps you understand the potential condition and design of rental units. Newer builds may have more contemporary layouts, while older homes can offer character or larger lots, depending on the area.

Waterville occupancy rates

Out of the 889 occupied housing units in Waterville, 76.3% are owner-occupied, while 23.7% are lived in by tenants. Meanwhile, 15.3% of all homes on the local market sit vacant.

Occupied housing units
889
5.2% year-over-year change
Occupancy breakdown
Renter occupied
211
Owner occupied
678
Value Percent YoY
change
Renter occupied 211 23.7% 7.1%
Owner occupied 678 76.3% 4.6%
Unoccupied housing units
15.3%
Unoccupied housing units refer to homes that are currently without residents—whether they're waiting for renters or owners, used seasonally, or simply unclaimed. A higher share of empty homes may mean more housing availability, while a low number can reflect a tighter market with more competition. This, along with the renter-vs.-owner mix, helps paint a clearer picture of what types of housing and services are likely to be available in the area.

Waterville housing costs

Housing costs in Waterville come to a median of $1,108 per month, while tenants specifically pay a median gross rent of $884.

Median housing costs per month
$1,108/month
This figure sums up typical monthly housing costs for all households in the area. If you own, it includes mortgage payments in addition to property taxes, insurance and HOA fees. If you rent, it accounts for rent plus extras like utilities. It’s useful for seeing how local living expenses stack up compared to other places.
Median gross rent in Waterville
$884/month
Gross rent gives a more complete look at what renters actually pay, including not just base rent, but also utilities and fees. It’s a key number for evaluating rental affordability in your area of interest and understanding how it compares to nearby locations.

Education in Waterville

Waterville education at a glance

About 45% of the population in Waterville went to high school, while 23.5% pursued college studies. Another 11.9% earned an associate degree and 12.2% hold a bachelor’s. Meanwhile, 5.6% went even further, earning a master’s or doctorate.

Education level
Value Percent YoY change
No high school 27 1.7% 22.7%
High school diploma 719 45% 6.0%
College diploma 375 23.5% 4.5%
Associate degree 190 11.9% 5.6%
Bachelor's degree 195 12.2% 18.2%
Graduate degree 90 5.6% 32.4%
A community’s education mix can offer insights into the local economy and housing market. Higher levels of education often align with more job opportunities and stable incomes, which can increase demand for homes and influence both rent prices and rental availability.

Income in Waterville

How much people earn in Waterville

The average annual household income in Waterville was $86,141 in 2024, the most recent annual data available, according to the U.S. Census Bureau. This marked a +10.6% change from the previous year. At the same time, the median income stood at $76,406, reflecting a +12.8% shift over the same period.

Average household income in Waterville
$86,141/year
10.6% year-over-year change
Median household income in Waterville
$76,406/year
12.8% year-over-year change

Waterville income by age

In Waterville, households led by residents aged 25 to 44 — usually in the early to mid stages of their careers — have a median income of $74,821. Those with someone between 45 and 64 in charge, often well established professionally, earn $94,167 overall. Younger households, where the main provider is under 25 and just starting out, report a median income of $41,094, while those led by someone over 65, many of whom may be retired, have about $67,222 in earnings. Overall, 87.9% of the locals in this community live above the poverty line.

Income breakdown by age
Value YoY change
Under 25 $41,094 N/A
25 - 44 $74,821 5.3%
45 - 64 $94,167 18.9%
Over 65 $67,222 6.6%
Above poverty level
1,670
Below poverty level
230
Value Percent YoY
change
Above poverty level 1,670 87.9% 8.2%
Below poverty level 230 12.1% 13.3%

Average renter income in Waterville

To get a better sense of what renters earn on average in Waterville, their median household income was $37,829 according to 2022 Census data. In addition, the rent-to-income ratio in the area, at 28%, shows what portion of their earnings goes toward housing expenses.

Renter median household income
$37,829
Rent-to-income ratio
28%
Understanding the rent-to-income ratio can help renters gauge if local housing costs align with their earnings. A ratio under 30% usually signals affordability, while exceeding this mark means rent is taking a larger-than-recommended bite out of income. That could make it harder for you to cover other costs like transportation, healthcare, or child care.

Employment in Waterville

Workforce and job types in Waterville

The job market in Waterville is powered by 1,000 working residents, spread across a range of industries and roles. 65.6% of the working population are employed in professional or administrative positions, while 34.4% are in hands-on or service-based jobs. Also, 11.5% run their own businesses, 67.2% are employed by private companies, and 9.1% work in the public sector.

Workforce demographics

Working population
1,000
4.4% year-over-year change
White collar
656
Blue collar
344
Value Percent YoY change
White collar 656 65.6% 7.5%
Blue collar 344 34.4% -1.1%
Employer type
Self employees
11.5%
Private companies
67.2%
Governmental workers
9.1%
Not for profit companies
12.2%
Value Percent YoY change
Self employees 115 11.5% 5.5%
Private companies 672 67.2% -0.9%
Governmental workers 91 9.1% 18.2%
Not for profit companies 122 12.2% 29.8%
Unemployment rate
7.3%
31.7% year-over-year change

Available workforce

The unemployment rate in Waterville stands at 7.3%, representing the share of the workforce currently without a job and actively looking for one.

For renters, the unemployment rate helps paint a picture of job security and financial stability in the area. Rates around 4% to 5% are considered typical. A lower-than-average rate might suggest strong job prospects and a thriving local economy, while a higher rate could hint at fewer opportunities—both useful to consider when planning a move.

Transportation in Waterville

How people get around in Waterville

Commuting methods vary: 91% of residents travel by personal vehicle and 3.7% prefer to walk, while the remaining share relies on public transit or on two wheelers to get from A to B.

Means of transportation
Value Percent YoY change
Car 901 91% 2.1%
Motorcycle 3 0.3% 0.0%
Bicycle 12 1.2% 9.1%
Walk 37 3.7% 27.6%
Understanding how locals get to work can help you plan your own routine. High car usage might mean you’ll need a vehicle, while strong public transit or walkability could save you the hassle. Commute times also play a big role in quality of life—shorter trips can give you more time for the things you enjoy.

What is the median and average household income in Waterville by zipcode?

Zipcode Population Number of households Median income Average income
56096 2,953 1,282 $87,679 $95,106

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FAQs about Waterville demographics 

What is the total population of Waterville?

Waterville has a total population of 1,947 residents, according to the latest release from the U.S. Census Bureau: the 2019-2023 American Community Survey (ACS) 5-year estimates. This figure changed by +9.5% compared to a year ago.

What is the gender ratio in Waterville?

The gender ratio in Waterville is as follows:
  • 48.6% males (947 residents)
  • 51.4% females (1,000 residents)

What is the median age in Waterville?

The median age in Waterville is 43.8.

What is the age distribution of the population in Waterville?

The age distribution in Waterville is as follows:
  • Under 15: 14.8% (288 residents)
  • Ages 15-24: 11.4% (222 residents)
  • Ages 25-44: 24.4% (476 residents)
  • Ages 45-64: 27.7% (539 residents)
  • Over 65: 21.7% (422 residents)

What is the racial and ethnic makeup of Waterville?

The racial and ethnic makeup of Waterville is as follows:
  • White: 89.2% (1,736 residents)
  • Black or African American: 1.3% (26 residents)
  • American Indian and Alaska Native: 1.6% (31 residents)
  • Asian: 1.1% (22 residents)
  • Native Hawaiian and Other Pacific Islander: 0% (0 residents)
  • Two or More Races: 3.1% (61 residents)
  • Other: 3.6% (71 residents)

What percentage of the population in Waterville are U.S.-born citizens?

U.S.-born citizens represent 97.5% of the population in Waterville.

How many housing units are there in Waterville?

There are 1,050 housing units in Waterville, reflecting a +4.2% change compared to the previous year, according to the latest data from the U.S. Census Bureau.

How many households are in Waterville and what is the average household size?

Waterville has a total of 889 households, with an average of 2 people in each.

What is the median household income in Waterville?

Waterville has a median household income of $76,406, representing a +12.8% shift from the previous year, according to the U.S. Census Bureau.

What is the employment rate and job market overview for Waterville?

The employment rate is 92.7% in Waterville, with a workforce of 1,000 residents. Here’s a detailed breakdown of the local job market:

Job types:
  • White-collar workers: 65.6% (656 residents)
  • Blue-collar workers: 34.4% (344 residents)

Places of employment:
  • Self-employed: 11.5% (115 residents)
  • Private companies: 67.2% (672 residents)
  • Governmental workers: 9.1% (91 residents)
  • Not-for-profit companies: 12.2% (122 residents)

Data source & methodology

The demographic data on this page was sourced from the latest U.S. Census Bureau release—the 2019–2023 American Community Survey (ACS) 5-year estimates.

The information, issued annually, is compiled and published by the Point2Homes Research Team as soon as new data becomes available.

No representation, guarantee, or warranty is made concerning the accuracy or completeness of modified or aggregated information for particular areas.

Page last updated: September 2025