Gem Lake, MN
Population 521 · Minnesota
About Gem Lake, MN
Gem Lake is a small community located in Minnesota with a population of 521 residents according to the latest US Census Bureau American Community Survey data. The median household income is $146,250 per year, which is 95% above the national median of $75,149. The median age of 41.2 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Gem Lake features a median home value of $536,600, which is 119% above the national median of $244,900. This places Gem Lake in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $1,750, 50% above the national average of $1,163/month. Of the 186 total housing units, 90% are owner-occupied (160 units) and 10% are renter-occupied (17 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Gem Lake shows an unemployment rate of 0.4%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 2.3%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Gem Lake have an average one-way commute time of 21.3 minutes.
Education & Demographics
52.6% of Gem Lake residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. 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 1.3% of the population being foreign-born.
How Gem Lake Ranks in Minnesota
Cost of Living in Gem Lake, MN
Compared to national averages, Gem Lake has a median household income of $146,250 (95% above the national median of $75,149). Home values average $536,600, which is 119% above the national median. Monthly rent at $1,750 is 50% above the US average of $1,163. Within Minnesota, Gem Lake's income is 97% above the state average of $74,221, and home values are 162% above the state median of $204,472.
Why Live in Gem Lake, MN?
Gem Lake offers a strong local economy with a median household income of $146,250, well above the national average, and a strong job market with an unemployment rate of just 0.4%, and a well-educated community where 52.6% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 2.3%, better than the national average, and short commute times averaging just 21.3 minutes.
Potential considerations include a competitive housing market where the typical home costs $536,600. However, Gem Lake’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Gem Lake has a population of 521 with a median age of 41.2 years. Compare Gem Lake with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Gem Lake
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Sacred Heart | 522 | $63,125 | $57,600 | Compare |
| Stephen | 524 | $63,750 | $83,800 | Compare |
| Sturgeon Lake | 526 | $77,500 | $190,600 | Compare |
| Cosmos | 529 | $50,833 | $95,000 | Compare |
| Franklin | 513 | $54,904 | $84,800 | Compare |
| Brownton | 530 | $77,159 | $148,500 | Compare |
| Hampton | 510 | $106,111 | $305,700 | Compare |
| Pennock | 510 | $68,846 | $140,500 | 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.
Compare Gem Lake With Other Cities
Frequently Asked Questions about Gem Lake
What is the population of Gem Lake, MN?
The population of Gem Lake, MN is 521 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 Gem Lake?
The median household income in Gem Lake, MN is $146,250 per year, which is 95% above the national median of $75,149.
What is the median home value in Gem Lake?
The median home value in Gem Lake, MN is $536,600, which is 119% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Gem Lake?
The median monthly rent in Gem Lake, MN is $1,750, which is 50% above the national average of $1,163/month.
What is the unemployment rate in Gem Lake?
The unemployment rate in Gem Lake, MN is 0.4%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Gem Lake, MN a good place to live?
Gem Lake offers above-average incomes, a competitive housing market, and a strong job market. With a population of 521 and a median age of 41.2, the city appeals to a broad range of residents.
How educated is Gem Lake, MN?
52.6% of residents in Gem Lake aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Gem Lake?
Key cost-of-living indicators for Gem Lake, MN: median home value is $536,600 (119% above national), median rent is $1,750/month, and median household income is $146,250. The home-value-to-income ratio is 3.7x, a moderate figure by national standards.
What is the poverty rate in Gem Lake?
The poverty rate in Gem Lake, MN is 2.3%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Gem Lake, MN?
Gem 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. 1.3% of residents are foreign-born.