The small town of Loretto, Minnesota is home to approximately 1,000 residents. It's a nice place to raise a family, as young children make up a higher percentage of the population here (8%) than nationally (6%), while young adults account for a smaller percentage of the town. With an average age of just over 34, the town's residents are notably younger than most cities in Minnesota. Renters tend to be in the minority in the town, and 90% of residents own their homes. The average rent for Loretto is $324 per month more than the state average.
Loretto has an average commute time of about 27 minutes, longer than the Minnesota average of about 25 minutes. Driving a car or truck is the most common mode of getting to work, selected by 44% of residents, while public transit isn't extensively used. A small percentage of commuters walk to work.
There are three primary industries in Loretto: manufacturing, retail, and healthcare. Together, these industries make up 24% of the labor force in the town. Meanwhile, looking at job function, many workers in these industries are in sales, which ranks as the top career path in the town. With an average annual income of about $136,000, ninth-highest in the state, Loretto workers are generally well-compensated for their efforts. Loretto's average income also compares favorably to the national average ($73,345). Compared to the national average (7%), Loretto has a high number of residents over the age of 25 with advanced degrees, as 12% have earned a Master's or a Doctoral degree. Additionally, 23% have earned a Bachelor's degree, which also outpaces the national average.
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