Minnesota Lake, MN
Population 621 · Minnesota
About Minnesota Lake, MN
Minnesota Lake is a small community located in Minnesota with a population of 621 residents according to the latest US Census Bureau American Community Survey data. The median household income is $62,875 per year, which is 16% below the national median of $75,149. The median age of 45.5 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 Minnesota Lake features a median home value of $126,600, which is 48% below the national median of $244,900. This makes Minnesota Lake one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $950, 18% below the national average of $1,163/month. Of the 312 total housing units, 76% are owner-occupied (227 units) and 24% are renter-occupied (72 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Minnesota Lake shows an unemployment rate of 3.9%, which is near the national rate of 3.7%. The poverty rate stands at 12.1%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Minnesota Lake have an average one-way commute time of 33.8 minutes.
Education & Demographics
18.7% of Minnesota Lake residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 0.6% White, 0.3% Hispanic or Latino, 0.0% Black or African American, and 0.8% Asian residents, with 0.0% of the population being foreign-born.
Cost of Living in Minnesota Lake, MN
Compared to national averages, Minnesota Lake has a median household income of $62,875 (16% below the national median of $75,149). Home values average $126,600, which is 48% below the national median. Monthly rent at $950 is 18% below the US average of $1,163. Within Minnesota, Minnesota Lake's income is 15% below the state average of $74,221, and home values are 38% below the state median of $204,472.
Why Live in Minnesota Lake, MN?
Minnesota Lake offers affordable housing with a median home value of $126,600, below the US average of $244,900, and rent that’s lower than the national average at $950/month, and a low poverty rate of 12.1%, better than the national average.
Potential considerations include median household income ($62,875) that falls below the national average. However, Minnesota Lake’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Minnesota Lake has a population of 621 with a median age of 45.5 years. Compare Minnesota Lake with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Minnesota Lake
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Clear Lake | 621 | $105,000 | $255,800 | Compare |
| La Prairie | 621 | $75,192 | $202,300 | Compare |
| Cleveland | 622 | $83,281 | $204,200 | Compare |
| Eagle Bend | 620 | $48,924 | $96,700 | Compare |
| Karlstad | 622 | $61,324 | $120,300 | Compare |
| Brownsville | 624 | $63,977 | $161,600 | Compare |
| Ellendale | 626 | $80,417 | $150,000 | Compare |
| Ivanhoe | 627 | $54,583 | $65,500 | 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 Minnesota Lake With Other Cities
Frequently Asked Questions about Minnesota Lake
What is the population of Minnesota Lake, MN?
The population of Minnesota Lake, MN is 621 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 Minnesota Lake?
The median household income in Minnesota Lake, MN is $62,875 per year, which is 16% below the national median of $75,149.
What is the median home value in Minnesota Lake?
The median home value in Minnesota Lake, MN is $126,600, which is 48% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Minnesota Lake?
The median monthly rent in Minnesota Lake, MN is $950, which is 18% below the national average of $1,163/month.
What is the unemployment rate in Minnesota Lake?
The unemployment rate in Minnesota Lake, MN is 3.9%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Minnesota Lake, MN a good place to live?
Minnesota Lake offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 621 and a median age of 45.5, the city appeals to established professionals and retirees.
How educated is Minnesota Lake, MN?
18.7% of residents in Minnesota Lake aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Minnesota Lake?
Key cost-of-living indicators for Minnesota Lake, MN: median home value is $126,600 (48% below national), median rent is $950/month, and median household income is $62,875. The home-value-to-income ratio is 2.0x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Minnesota Lake?
The poverty rate in Minnesota Lake, MN is 12.1%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Minnesota Lake, MN?
Minnesota Lake's population is 0.6% White, 0.3% Hispanic or Latino, 0.0% Black or African American, 0.8% Asian, and 0.0% two or more races. 0.0% of residents are foreign-born.