Lake Park, MN
Population 573 · Minnesota
About Lake Park, MN
Lake Park is a small community in Minnesota with a population of 573 residents. The median household income is $63,250 per year, which is near the national average. The median age in Lake Park is 36.8 years.
Housing in Lake Park has a median home value of $160,900 and median monthly rent of $717. Of the 251 total housing units, the majority are owner-occupied, with 194 owner-occupied and 37 renter-occupied units.
The unemployment rate in Lake Park is 0.0% and the poverty rate is 8.0%. 25.8% of residents hold a bachelor's degree or higher. The average commute time is 25.2 minutes.
Cost of Living in Lake Park, MN
Compared to national averages, Lake Park has a median household income of $63,250 (16% below the national median of $75,149). Home values average $160,900, which is 34% below the national median. Monthly rent at $717 is 38% below the US average of $1,163. Within Minnesota, Lake Park's income is 15% below the state average of $74,221, and home values are 21% below the state median of $204,472.
Why Live in Lake Park, MN?
Lake Park offers affordable housing with a median home value of $160,900, below the US average of $244,900, and rent that’s lower than the national average at $717/month, and a strong job market with an unemployment rate of just 0.0%. Additionally, the city features a low poverty rate of 8.0%, better than the national average.
Potential considerations include median household income ($63,250) that falls below the national average. However, Lake Park’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Lake Park has a population of 573 with a median age of 36.8 years. Compare Lake Park with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Lake Park
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Hendricks | 572 | $45,125 | $78,100 | Compare |
| Lynd | 570 | $79,375 | $170,000 | Compare |
| Stewart | 570 | $62,692 | $115,900 | Compare |
| Littlefork | 577 | $61,685 | $114,500 | Compare |
| New Germany | 581 | $88,438 | $252,600 | Compare |
| Brooten | 582 | $47,500 | $128,900 | Compare |
| Graceville | 586 | $51,667 | $101,700 | Compare |
| Bethel | 559 | $102,500 | $260,200 | 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 Lake Park
What is the population of Lake Park, MN?
The population of Lake Park, MN is 573 according to the latest Census data.
What is the median household income in Lake Park?
The median household income in Lake Park, MN is $63,250 per year.
What is the median home value in Lake Park?
The median home value in Lake Park, MN is $160,900.
What is the average rent in Lake Park?
The median monthly rent in Lake Park, MN is $717.
What is the unemployment rate in Lake Park?
The unemployment rate in Lake Park, MN is 0.0%.