Cost of Living in Lake County, MN
Population 10,879 · Census ACS 2020–2024 5-year estimates
The median rent in Lake County, MN is $1,093/month, 15% lower than the Minnesota median and 23% lower than the U.S. median. The median home value is $241,300, 27% lower than the national median. Households earn a median of $75,541 a year, 15% lower than the state median.
Affordability
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Lake County vs. Minnesota vs. U.S.
| Lake County | Minnesota | U.S. | |
|---|---|---|---|
| Median rent | $1,093 | $1,280 | $1,413 |
| Median home value | $241,300 | $329,300 | $332,700 |
| Median household income | $75,541 | $89,062 | $80,734 |
| Homeownership rate | 83.5% | 72.2% | 65.2% |
| Bachelor's degree or higher | 26.8% | 39.4% | 35.7% |
| Poverty rate | 8.6% | 9.3% | 12.5% |
| Unemployment rate | 2.6% | 4.1% | 5.2% |
| Work from home | 13.2% | 17.6% | 15.1% |
| Median age | 49.4 | 38.8 | 38.9 |
FAQ
What is the average rent in Lake County, MN?
The median gross rent in Lake County, MN is $1,093 per month (ACS 2020–2024 5-year estimate).
How much do I need to earn to live in Lake County, MN?
Using the common 30% rule, renting a median-priced home takes about $43,720 a year in gross income.
Is Lake County, MN expensive to live in?
Rent there is 23% lower than the U.S. median, and the median home costs about 3.2 times the median household income.
Other counties in Minnesota
Counties with a similar cost of living
Source: U.S. Census Bureau, American Community Survey 5-year estimates. Estimates have margins of error, especially for smaller places. This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
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