The Town FilesBalsam, Minnesota
Township in Itasca County · population 550 (2020 Census)
- Median home
- $236,000
- Household income
- $82,292
- Jan low / Jul high
- -5° / 77°
- Snow a year
- 62 in
- Tornadoes ≤10 mi since 1950
- 0
- Median age
- 51.1
Balsam is a township of 550 people in Itasca County, Minnesota. The median home is worth $236,000, below the typical Minnesota town ($301,800). It ranks more of a college town than 88% of Minnesota towns, better for a vacation home than 87% of Minnesota towns, quieter than 84% of Minnesota towns.
How Balsam ranks
Percentile among Minnesota towns with at least 500 people on The Town Files lifestyle rankings. 50 is typical for the state; 90 means better than 90% of Minnesota towns.
Homes and cost of living
The median home in Balsam is worth $236,000, below the typical Minnesota town ($301,800). Homes cost about 2.9 times the median household income of $82,292, which is more affordable than 74% of Minnesota towns. 95.4% of households own their home.
| Housing | Balsam | Typical Minnesota town |
|---|---|---|
| Median home value | $236,000 | $301,800 |
| Median rent | — | $991 |
| Median household income | $82,292 | $87,375 |
| Home value ÷ income | 2.9× | 3.4× |
| Homeownership | 95.4% | 88.6% |
| Median year built | 1979 | 1979 |
| Seasonal / vacation homes | 54.6% | — |
Who lives in Balsam
| People | Balsam | Typical Minnesota town |
|---|---|---|
| Median age | 51.1 | 42.7 |
| Age 65 and over | 30.8% | 20.0% |
| Under 18 | 18.5% | — |
| Bachelor's degree or higher | 28.3% | 26.2% |
| Below the poverty line | 18.7% | 6.9% |
| Veterans | 7.5% | — |
| Born outside the U.S. | 0.5% | — |
| Work from home | 7.7% | 11.1% |
| Average commute | 31.6 min | 24.5 min |
| Homes with broadband | 93.0% | 90.2% |
Weather in Balsam
July highs average 76.8°F and January lows -4.7°F. About 31.1 inches of rain and melted snow fall a year, with 62.2 inches of snow (typical Minnesota town: 47.0 in). Expect about 1 days a year at 90°F or hotter and 192 nights at or below freezing.
Tornadoes, storms and disasters
NOAA's Storm Events Database has no tornado within 10 miles of Balsam since 1950.
Hail of 1 inch or larger has been reported within 10 miles 14 times; the largest was 2.75 inches on June 12, 2024.
Severe weather in Itasca County since 1996
Itasca County has been included in 15 federal disaster or emergency declarations since 1953, most often for flood, drought, hurricane.
| Declared | Incident | Declaration |
|---|---|---|
| June 28, 2024 | Flood | DR-4797: Severe Storms And Flooding |
| August 9, 2022 | Severe Storm | DR-4666: Severe Storms, Straight-Line Winds, Tornadoes, And Flooding |
| April 7, 2020 | Biological | DR-4531: Covid-19 Pandemic |
| March 13, 2020 | Biological | EM-3453: Covid-19 |
| September 5, 2018 | Flood | DR-4390: Severe Storms, Tornadoes, Straight-Line Winds, And Flooding |
Jobs and pay in Itasca County
Itasca County had 16,608 jobs in 2024, paying an average of $54,071 a year. Unemployment was 4.6% in 2023; in Balsam itself the ACS puts it at 6.1%.
Towns near Balsam
- Wabana, MN7.2 mi · 503 people · home $302,900
- Nashwauk, MN10.9 mi · 1,657 people · home $141,300
- Taconite, MN11.9 mi · 651 people · home $219,600
- Marble, MN12.3 mi · 610 people · home $102,500
- Arbo, MN12.5 mi · 862 people · home $263,700
- Bovey, MN13.3 mi · 829 people · home $122,800
- Greenway, MN13.5 mi · 1,788 people · home $138,200
- Nashwauk, MN13.7 mi · 970 people · home $112,300
Balsam questions
Is Balsam, Minnesota a good place to retire?
On The Town Files lifestyle rankings, Balsam scores better for retirees than 79% of Minnesota towns and quieter than 84%. 30.8% of residents are 65 or older (median age 51.1).
How much does a house cost in Balsam?
The median owner-occupied home in Balsam is valued at $236,000 (Census ACS 2020–2024), against a median household income of $82,292, so homes cost about 2.9 times income. Median rent is — a month.
What is the weather like in Balsam?
July highs average 76.8°F and January lows -4.7°F (NOAA 1991–2020 normals). It gets about 31.1 inches of precipitation a year and 62.2 inches of snow.
Does Balsam get tornadoes?
No tornado has been recorded within 10 miles of Balsam in NOAA's Storm Events Database since 1950.
- U.S. Census Bureau, American Community Survey 5-year estimates (2020–2024)
- U.S. Census Bureau, 2020 Census and 2025 Gazetteer (2020 / 2025)
- NOAA NCEI U.S. Climate Normals (1991–2020)
- NOAA NCEI Storm Events Database (1950–2026)
- FEMA OpenFEMA Disaster Declarations (this product uses the FEMA OpenFEMA API but is not endorsed by FEMA) (1953–2026)
- NCES Common Core of Data (2023–24)
- BLS Quarterly Census of Employment and Wages; USDA ERS county unemployment (BLS LAUS) (2000–2024)
- The Town Files lifestyle rankings, built from federal demographic, school, crime and housing data (2025)