North Oaks, MN
Population 5,175 · Minnesota
About North Oaks, MN
North Oaks is a small town located in Minnesota with a population of 5,175 residents according to the latest US Census Bureau American Community Survey data. The median household income is $235,858 per year, which is 214% above the national median of $75,149. The median age of 43.6 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 North Oaks features a median home value of $756,300, which is 209% above the national median of $244,900. This places North Oaks in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $2,932, 152% above the national average of $1,163/month. Of the 1,816 total housing units, 85% are owner-occupied (1,497 units) and 15% are renter-occupied (256 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in North Oaks shows an unemployment rate of 4.0%, which is near the national rate of 3.7%. The poverty rate stands at 4.5%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in North Oaks have an average one-way commute time of 25.2 minutes.
Education & Demographics
72.4% of North Oaks 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 4.8% White, 2.1% Hispanic or Latino, 0.0% Black or African American, and 0.4% Asian residents, with 8.0% of the population being foreign-born.
How North Oaks Ranks in Minnesota
Cost of Living in North Oaks, MN
Compared to national averages, North Oaks has a median household income of $235,858 (214% above the national median of $75,149). Home values average $756,300, which is 209% above the national median. Monthly rent at $2,932 is 152% above the US average of $1,163. Within Minnesota, North Oaks's income is 218% above the state average of $74,221, and home values are 270% above the state median of $204,472.
Why Live in North Oaks, MN?
North Oaks offers a strong local economy with a median household income of $235,858, well above the national average, and a well-educated community where 72.4% of residents hold a bachelor’s degree or higher, and a low poverty rate of 4.5%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $756,300. However, North Oaks’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
North Oaks has a population of 5,175 with a median age of 43.6 years. Compare North Oaks with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near North Oaks
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Falcon Heights | 5,145 | $93,233 | $366,800 | Compare |
| Morris | 5,092 | $63,807 | $185,200 | Compare |
| La Crescent | 5,266 | $82,109 | $244,500 | Compare |
| Redwood Falls | 5,075 | $61,947 | $162,000 | Compare |
| Montevideo | 5,303 | $65,724 | $137,600 | Compare |
| Lake City | 5,021 | $76,125 | $234,100 | Compare |
| Princeton | 4,988 | $52,450 | $212,200 | Compare |
| Circle Pines | 4,980 | $96,477 | $277,300 | 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 North Oaks With Other Cities
Frequently Asked Questions about North Oaks
What is the population of North Oaks, MN?
The population of North Oaks, MN is 5,175 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 North Oaks?
The median household income in North Oaks, MN is $235,858 per year, which is 214% above the national median of $75,149.
What is the median home value in North Oaks?
The median home value in North Oaks, MN is $756,300, which is 209% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in North Oaks?
The median monthly rent in North Oaks, MN is $2,932, which is 152% above the national average of $1,163/month.
What is the unemployment rate in North Oaks?
The unemployment rate in North Oaks, MN is 4.0%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is North Oaks, MN a good place to live?
North Oaks offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 5,175 and a median age of 43.6, the city appeals to a broad range of residents.
How educated is North Oaks, MN?
72.4% of residents in North Oaks 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 North Oaks?
Key cost-of-living indicators for North Oaks, MN: median home value is $756,300 (209% above national), median rent is $2,932/month, and median household income is $235,858. The home-value-to-income ratio is 3.2x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in North Oaks?
The poverty rate in North Oaks, MN is 4.5%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is North Oaks, MN?
North Oaks's population is 4.8% White, 2.1% Hispanic or Latino, 0.0% Black or African American, 0.4% Asian, and 0.9% two or more races. 8.0% of residents are foreign-born.