Lake Shore, MN
Population 1,117 · Minnesota
About Lake Shore, MN
Lake Shore is a small town located in Minnesota with a population of 1,117 residents according to the latest US Census Bureau American Community Survey data. The median household income is $96,923 per year, which is 29% above the national median of $75,149. The median age of 55.1 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 Lake Shore features a median home value of $532,500, which is 117% above the national median of $244,900. This places Lake Shore in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $982, 16% below the national average of $1,163/month. Of the 1,060 total housing units, 91% are owner-occupied (446 units) and 9% are renter-occupied (46 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Lake Shore shows an unemployment rate of 1.1%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 6.5%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Lake Shore have an average one-way commute time of 21.8 minutes.
Education & Demographics
39.6% of Lake Shore 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 3.2% White, 0.4% Hispanic or Latino, 0.2% Black or African American, and 0.3% Asian residents, with 1.2% of the population being foreign-born.
Cost of Living in Lake Shore, MN
Compared to national averages, Lake Shore has a median household income of $96,923 (29% above the national median of $75,149). Home values average $532,500, which is 117% above the national median. Monthly rent at $982 is 16% below the US average of $1,163. Within Minnesota, Lake Shore's income is 31% above the state average of $74,221, and home values are 160% above the state median of $204,472.
Why Live in Lake Shore, MN?
Lake Shore offers a strong local economy with a median household income of $96,923, well above the national average, and rent that’s lower than the national average at $982/month, and a strong job market with an unemployment rate of just 1.1%. Additionally, the city features a well-educated community where 39.6% of residents hold a bachelor’s degree or higher, and a low poverty rate of 6.5%, better than the national average, and short commute times averaging just 21.8 minutes.
Potential considerations include a competitive housing market where the typical home costs $532,500. However, Lake Shore’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Lake Shore has a population of 1,117 with a median age of 55.1 years. Compare Lake Shore with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Lake Shore
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Baudette | 1,117 | $71,042 | $171,000 | Compare |
| Cottonwood | 1,120 | $90,750 | $180,200 | Compare |
| Hector | 1,111 | $59,762 | $124,100 | Compare |
| Lake St. Croix Beach | 1,106 | $100,134 | $334,600 | Compare |
| Fairfax | 1,134 | $53,750 | $99,800 | Compare |
| Royalton | 1,092 | $64,643 | $201,500 | Compare |
| Dellwood | 1,145 | $208,125 | $729,800 | Compare |
| Harmony | 1,089 | $65,536 | $154,800 | 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 Lake Shore With Other Cities
Frequently Asked Questions about Lake Shore
What is the population of Lake Shore, MN?
The population of Lake Shore, MN is 1,117 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Minnesota.
What is the median household income in Lake Shore?
The median household income in Lake Shore, MN is $96,923 per year, which is 29% above the national median of $75,149.
What is the median home value in Lake Shore?
The median home value in Lake Shore, MN is $532,500, which is 117% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Lake Shore?
The median monthly rent in Lake Shore, MN is $982, which is 16% below the national average of $1,163/month.
What is the unemployment rate in Lake Shore?
The unemployment rate in Lake Shore, MN is 1.1%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Lake Shore, MN a good place to live?
Lake Shore offers above-average incomes, a competitive housing market, and a strong job market. With a population of 1,117 and a median age of 55.1, the city appeals to established professionals and retirees.
How educated is Lake Shore, MN?
39.6% of residents in Lake Shore 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 Lake Shore?
Key cost-of-living indicators for Lake Shore, MN: median home value is $532,500 (117% above national), median rent is $982/month, and median household income is $96,923. The home-value-to-income ratio is 5.5x, a moderate figure by national standards.
What is the poverty rate in Lake Shore?
The poverty rate in Lake Shore, MN is 6.5%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Lake Shore, MN?
Lake Shore's population is 3.2% White, 0.4% Hispanic or Latino, 0.2% Black or African American, 0.3% Asian, and 0.2% two or more races. 1.2% of residents are foreign-born.