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EconPulse

Local economy signal dashboard

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PLACEThriving

Preston, MN

Thriving overall. Population is the clearest support signal, while gdp / output needs the most attention. Housing reads as affordable for a median-income household.

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Overall score68out of 100
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11
70
100
80
100

Population

1,362

Data freshness

Unknown

GDP / Output

-4.1% YoY

11

$877.0M

Output changed -4.1% in 2024.

Vintage date unknown

State growth5.1%
U.S. growth5.3%

Jobs

Unemployment rate

70

3.4%

Unemployment is 3.4% for Latest available.

Vintage date unknown

State avg4.1%
U.S. avg4.2%

Population

+14.3% 5-year

100

1,362

Population moved +14.3% over the latest ACS window.

Vintage date unknown

State population5,739,445
U.S. population334,922,499

Housing

Rent share of income

80

14.4%

Median rent consumes 14.4% of median household income: Affordable.

Vintage date unknown

State rent$1.3K
U.S. rent$1.4K
HUD_API_TOKEN missing; ACS median gross rent is used as the housing affordability fallback.

Federal Funds

$8.1K per resident

100

$172.2M

$172.2M in federal obligations flowed here in FY2025.

Vintage date unknown

State total$242.1B
U.S. total$5.3T

Population and output

Trend Snapshot

Reported share

Industry Breakdown

FY2025

Federal Money

Federal obligations

$172.2M

$8.1K per resident in reported federal flow.

Top agencies

Dollars
1. Social Security Administration$123.2M
2. Department of Agriculture$25.2M
3. Department of Veterans Affairs$15.8M

Top recipients

Dollars
1. REDACTED DUE TO PII$24.7M
2. STATE OF MINNESOTA - PRESTON$3.5M
3. MINNESOTA DEPARTMENT OF TRANSPORTATION$3.4M

Affordable

Housing Affordability

14.4%

of median income

1BR estimate$631
2BR estimate$831
Median income$63,984
Median home value$185,900

ACS context

Quick Facts

Population

1,362

Median age

39.8

Bachelor's degree+

27.0%

Poverty rate

8.9%

Labor force participation

67.2%

Prime rate

6.8%

CPI YoY

+3.2%

U.S. GDP YoY

+6.5%

Sources and warnings

Data Provenance

Census ACS 5-year

2024

BLS LAUS / CPS

Latest available

BEA regional CAGDP1

2024

USAspending

FY2025

FRED

2026-07-30

HUD Fair Market Rent

Latest available

Data notes
  • HUD_API_TOKEN missing; ACS median gross rent is used as the housing affordability fallback.

5-year compound growth

Historical Trends

Population CAGR

+2.7%

GDP CAGR

+4.9%

Federal flow

5 years

Population (5 years)
20201,192
20211,285
20221,222
20231,315
20241,362
GDP (5 years)
2020$690.6M
2021$756.7M
2022$862.0M
2023$914.2M
2024$877.0M

2-year linear forecast

Predictive Outlook

Population forecast

20241,362
20251,386 *
20261,423 *

R² = 72.2% · * projected

GDP forecast

2024$877.0M
2025$979.2M *
2026$1.0B *

R² = 81.2% · * projected

Linear regression over available historical data. Projections are estimates based on past trends and do not account for policy changes, economic shocks, or other external factors.

housing affordability breakdown

Cost of Living

Median household income$63,984/yr
Median rent$769/mo
Rent share of income14.4%
Est. mortgage (30yr, 6.5%)$11,280/yr
Mortgage share of income17.6%

Rent data from Census ACS 5-year. Mortgage estimate assumes 20% down, 6.5% APR, 30-year fixed.

employment snapshot

Job Market

Unemployment rate3.4%
State avg4.1%
U.S. avg4.2%
Labor force participation67.2%
Poverty rate8.9%

Data from BLS LAUS / CPS. Latest available.

valuation snapshot

Real Estate

Median home value$185,900
Median monthly rent$769
Price-to-rent ratio20.1x

High price-to-rent ratio — renting may be more economical than buying in this market.

composite score

Investment Climate

Investment climateModerate
Composite score58/100
Economic growth11/100
Labor market70/100
Population momentum100/100
Overall stability68/100

Composite score weighs economic growth, labor market health, population momentum, and overall stability. Not financial advice.

Location Context

Preston city, Minnesota

City/Town

Part of

Rochester, MN

Nearby locations

Fountain, MNLanesboro, MNWhalan, MNHarmony, MNWykoff, MN