Forest Lake, MN
Population 20,678 · Minnesota
About Forest Lake, MN
Forest Lake is a mid-sized city in Minnesota with a population of 20,678 residents. The median household income is $89,879 per year, which is above the national average. The median age in Forest Lake is 38.8 years.
Housing in Forest Lake has a median home value of $375,900 and median monthly rent of $1,379. Of the 8,589 total housing units, the majority are owner-occupied, with 5,856 owner-occupied and 2,295 renter-occupied units.
The unemployment rate in Forest Lake is 4.6% and the poverty rate is 6.7%. 35.7% of residents hold a bachelor's degree or higher. The average commute time is 25.4 minutes.
Cost of Living in Forest Lake, MN
Compared to national averages, Forest Lake has a median household income of $89,879 (20% above the national median of $75,149). Home values average $375,900, which is 53% above the national median. Monthly rent at $1,379 is 19% above the US average of $1,163. Within Minnesota, Forest Lake's income is 21% above the state average of $74,221, and home values are 84% above the state median of $204,472.
Why Live in Forest Lake, MN?
Forest Lake offers a strong local economy with a median household income of $89,879, well above the national average, and a well-educated community where 35.7% of residents hold a bachelor’s degree or higher, and a low poverty rate of 6.7%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $375,900. However, Forest Lake’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Forest Lake has a population of 20,678 with a median age of 38.8 years. Compare Forest Lake with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Forest Lake
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Northfield | 20,678 | $92,000 | $305,300 | Compare |
| South St. Paul | 20,633 | $84,472 | $266,800 | Compare |
| West St. Paul | 21,076 | $70,738 | $281,800 | Compare |
| Willmar | 21,136 | $63,368 | $186,000 | Compare |
| Otsego | 21,358 | $127,219 | $367,200 | Compare |
| New Hope | 21,402 | $73,698 | $314,600 | Compare |
| Sartell | 19,620 | $77,465 | $278,000 | Compare |
| Lino Lakes | 21,847 | $121,800 | $385,000 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Minnesota
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Forest Lake
What is the population of Forest Lake, MN?
The population of Forest Lake, MN is 20,678 according to the latest Census data.
What is the median household income in Forest Lake?
The median household income in Forest Lake, MN is $89,879 per year.
What is the median home value in Forest Lake?
The median home value in Forest Lake, MN is $375,900.
What is the average rent in Forest Lake?
The median monthly rent in Forest Lake, MN is $1,379.
What is the unemployment rate in Forest Lake?
The unemployment rate in Forest Lake, MN is 4.6%.