Balaton, MN is a small town located in the southwestern part of Minnesota. It has an estimated population of 568 people according to the US Census Bureau. Despite its small size, Balaton, MN is ranked as one of the best places to live in the state by BestPlaces.com. The rankings are based off factors such as public schools, housing, cost of living and diversity. According to BestPlaces, Balaton ranks highly in public schools with an A+ ranking and housing with a B rating. Housing costs in Balaton are also very reasonable with an average median home value of only $95,500 compared to the national median home value at $215,000. Additionally, Balaton's diversity index is rated at 64%, making it a relatively diverse town. Overall, BestPlaces has given Balaton high rankings due to its excellent public school system and affordable housing prices.
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