Medicine Lake, MN
Population 541 · Minnesota
About Medicine Lake, MN
Medicine Lake is a small community located in Minnesota with a population of 541 residents according to the latest US Census Bureau American Community Survey data. The median household income is $161,250 per year, which is 115% above the national median of $75,149. The median age of 44.9 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 Medicine Lake features a median home value of $1,014,500, which is 314% above the national median of $244,900. This places Medicine Lake in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $1,025, 12% below the national average of $1,163/month. Of the 221 total housing units, 84% are owner-occupied (181 units) and 16% are renter-occupied (34 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Medicine 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 2.6%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Medicine Lake have an average one-way commute time of 17.1 minutes, one of the shorter commutes in the region.
Education & Demographics
71.0% of Medicine 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, 1.8% Hispanic or Latino, 0.0% Black or African American, and 4.1% Asian residents, with 6.5% of the population being foreign-born.
How Medicine Lake Ranks in Minnesota
Cost of Living in Medicine Lake, MN
Compared to national averages, Medicine Lake has a median household income of $161,250 (115% above the national median of $75,149). Home values average $1,014,500, which is 314% above the national median. Monthly rent at $1,025 is 12% below the US average of $1,163. Within Minnesota, Medicine Lake's income is 117% above the state average of $74,221, and home values are 396% above the state median of $204,472.
Why Live in Medicine Lake, MN?
Medicine Lake offers a strong local economy with a median household income of $161,250, well above the national average, and rent that’s lower than the national average at $1,025/month, and a strong job market with an unemployment rate of just 0.0%. Additionally, the city features a well-educated community where 71.0% of residents hold a bachelor’s degree or higher, and a low poverty rate of 2.6%, better than the national average, and short commute times averaging just 17.1 minutes.
Potential considerations include a competitive housing market where the typical home costs $1,014,500. However, Medicine Lake’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Medicine Lake has a population of 541 with a median age of 44.9 years. Compare Medicine Lake with other cities to see how it stacks up, or explore all cities in Minnesota.
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Demographics
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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 Medicine Lake
What is the population of Medicine Lake, MN?
The population of Medicine Lake, MN is 541 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 Medicine Lake?
The median household income in Medicine Lake, MN is $161,250 per year, which is 115% above the national median of $75,149.
What is the median home value in Medicine Lake?
The median home value in Medicine Lake, MN is $1,014,500, which is 314% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Medicine Lake?
The median monthly rent in Medicine Lake, MN is $1,025, which is 12% below the national average of $1,163/month.
What is the unemployment rate in Medicine Lake?
The unemployment rate in Medicine 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 Medicine Lake, MN a good place to live?
Medicine Lake offers above-average incomes, a competitive housing market, and a strong job market. With a population of 541 and a median age of 44.9, the city appeals to a broad range of residents.
How educated is Medicine Lake, MN?
71.0% of residents in Medicine 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 Medicine Lake?
Key cost-of-living indicators for Medicine Lake, MN: median home value is $1,014,500 (314% above national), median rent is $1,025/month, and median household income is $161,250. The home-value-to-income ratio is 6.3x, which suggests housing may be stretched relative to local earnings.
What is the poverty rate in Medicine Lake?
The poverty rate in Medicine Lake, MN is 2.6%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Medicine Lake, MN?
Medicine Lake's population is 0.0% White, 1.8% Hispanic or Latino, 0.0% Black or African American, 4.1% Asian, and 0.0% two or more races. 6.5% of residents are foreign-born.