Bingham Lake, MN
Population 106 · Minnesota
About Bingham Lake, MN
Bingham Lake is a small community located in Minnesota with a population of 106 residents according to the latest US Census Bureau American Community Survey data. The median household income is $86,250 per year, which is 15% above the national median of $75,149. The median age of 44.3 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Bingham Lake features a median home value of $225,000, which is 8% below the national median of $244,900. This positions Bingham Lake in a moderately priced market relative to the rest of the country. Median monthly rent is $0, 100% below the national average of $1,163/month. Of the 47 total housing units, 90% are owner-occupied (38 units) and 10% are renter-occupied (4 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Bingham Lake shows an unemployment rate of 0.0%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 6.6%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Bingham Lake have an average one-way commute time of 17.8 minutes, one of the shorter commutes in the region.
Education & Demographics
24.6% of Bingham Lake residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 0.0% White, 0.0% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.9% of the population being foreign-born.
Cost of Living in Bingham Lake, MN
Compared to national averages, Bingham Lake has a median household income of $86,250 (15% above the national median of $75,149). Home values average $225,000, which is 8% below the national median. Monthly rent at $0 is 100% below the US average of $1,163. Within Minnesota, Bingham Lake's income is 16% above the state average of $74,221, and home values are 10% above the state median of $204,472.
Why Live in Bingham Lake, MN?
Bingham Lake offers a strong local economy with a median household income of $86,250, well above the national average, and affordable housing with a median home value of $225,000, below the US average of $244,900, and rent that’s lower than the national average at $0/month. Additionally, the city features a strong job market with an unemployment rate of just 0.0%, and a low poverty rate of 6.6%, better than the national average, and short commute times averaging just 17.8 minutes.
Bingham Lake has a population of 106 with a median age of 44.3 years. Compare Bingham Lake with other cities to see how it stacks up, or explore all cities in Minnesota.
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Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Bingham Lake
What is the population of Bingham Lake, MN?
The population of Bingham Lake, MN is 106 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Minnesota.
What is the median household income in Bingham Lake?
The median household income in Bingham Lake, MN is $86,250 per year, which is 15% above the national median of $75,149.
What is the median home value in Bingham Lake?
The median home value in Bingham Lake, MN is $225,000, which is 8% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Bingham Lake?
The median monthly rent in Bingham Lake, MN is $0, which is 100% below the national average of $1,163/month.
What is the unemployment rate in Bingham Lake?
The unemployment rate in Bingham Lake, MN is 0.0%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Bingham Lake, MN a good place to live?
Bingham Lake offers above-average incomes, affordable housing, and a strong job market. With a population of 106 and a median age of 44.3, the city appeals to a broad range of residents.
How educated is Bingham Lake, MN?
24.6% of residents in Bingham Lake aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Bingham Lake?
Key cost-of-living indicators for Bingham Lake, MN: median home value is $225,000 (8% below national), median rent is $0/month, and median household income is $86,250. The home-value-to-income ratio is 2.6x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Bingham Lake?
The poverty rate in Bingham Lake, MN is 6.6%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Bingham Lake, MN?
Bingham Lake's population is 0.0% White, 0.0% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 0.9% of residents are foreign-born.