5.43% of the population for whom poverty status is determined in Taylors Falls, MN (63 out of 1.16k people) live below the poverty line, a number that is lower than the national average of 12.5%. The largest demographic living in poverty are Females 75+, followed by Females 55 - 64 and then Males 45 - 54.

The most common racial or ethnic group living below the poverty line in Taylors Falls, MN is White, followed by Two Or More and Black.

The Census Bureau uses a set of money income thresholds that vary by family size and composition to determine who classifies as impoverished. If a family's total income is less than the family's threshold than that family and every individual in it is considered to be living in poverty.