Income & Economy in Elbow Lake city, MN (56531)
Median Income
$73,162
*Adjusted for inflation (2023 dollars)
IRS Net Migration
+138
Wealth inflow
Population
1,948
Unemployment
3.1%
0.6pp below US avg
IRS migration statistics show a net inflow of about 138 for ZIP 56531 (Elbow Lake city, MN) on US5’s published series — a signal of people/tax filers moving in relative to those leaving. Inflows often track job growth, housing demand, or lifestyle migration; treat the figure as a directional indicator rather than a precise headcount.
Historical Trends in 56531 (2020–Present)
Since 2020, population grew 2.0%, median income rose 5.5% (inflation-adjusted), home values increased 18.6%.
Economy & Jobs key statistics
| Income & Jobs | |
|---|---|
| Median household income | $73,162 |
| Unemployment | 3.1% |
| Establishments | 72 |
| Employees | 661 |