Pequot Lakes, MN
Population 2,236 · Minnesota
About Pequot Lakes, MN
Pequot Lakes is a small town located in Minnesota with a population of 2,236 residents according to the latest US Census Bureau American Community Survey data. The median household income is $66,974 per year, which is 11% below the national median of $75,149. The median age of 43 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 Pequot Lakes features a median home value of $246,400, which is 1% above the national median of $244,900. This positions Pequot Lakes in a moderately priced market relative to the rest of the country. Median monthly rent is $792, 32% below the national average of $1,163/month. Of the 1,324 total housing units, 67% are owner-occupied (648 units) and 33% are renter-occupied (322 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Pequot Lakes shows an unemployment rate of 8.9%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 5.5%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Pequot Lakes have an average one-way commute time of 22.4 minutes.
Education & Demographics
32.6% of Pequot Lakes 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 0.8% White, 1.8% Hispanic or Latino, 0.0% Black or African American, and 0.2% Asian residents, with 0.7% of the population being foreign-born.
Cost of Living in Pequot Lakes, MN
Compared to national averages, Pequot Lakes has a median household income of $66,974 (11% below the national median of $75,149). Home values average $246,400, which is 1% above the national median. Monthly rent at $792 is 32% below the US average of $1,163. Within Minnesota, Pequot Lakes's income is 10% below the state average of $74,221, and home values are 21% above the state median of $204,472.
Why Live in Pequot Lakes, MN?
Pequot Lakes offers rent that’s lower than the national average at $792/month, and a low poverty rate of 5.5%, better than the national average, and short commute times averaging just 22.4 minutes.
Potential considerations include median household income ($66,974) that falls below the national average. However, Pequot Lakes’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Pequot Lakes has a population of 2,236 with a median age of 43 years. Compare Pequot Lakes with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Pequot Lakes
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Olivia | 2,243 | $62,683 | $156,600 | Compare |
| Crosby | 2,253 | $43,250 | $175,600 | Compare |
| Aitkin | 2,217 | $45,813 | $172,800 | Compare |
| Springfield | 2,209 | $59,412 | $117,600 | Compare |
| Arlington | 2,298 | $66,458 | $181,600 | Compare |
| Wells | 2,317 | $58,663 | $93,200 | Compare |
| Cologne | 2,146 | $117,344 | $356,600 | Compare |
| Spring Valley | 2,357 | $64,500 | $149,100 | 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 Pequot Lakes With Other Cities
Frequently Asked Questions about Pequot Lakes
What is the population of Pequot Lakes, MN?
The population of Pequot Lakes, MN is 2,236 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 Pequot Lakes?
The median household income in Pequot Lakes, MN is $66,974 per year, which is 11% below the national median of $75,149.
What is the median home value in Pequot Lakes?
The median home value in Pequot Lakes, MN is $246,400, which is 1% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Pequot Lakes?
The median monthly rent in Pequot Lakes, MN is $792, which is 32% below the national average of $1,163/month.
What is the unemployment rate in Pequot Lakes?
The unemployment rate in Pequot Lakes, MN is 8.9%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Pequot Lakes, MN a good place to live?
Pequot Lakes offers a moderate cost of living, a competitive housing market, and growing employment opportunities. With a population of 2,236 and a median age of 43, the city appeals to a broad range of residents.
How educated is Pequot Lakes, MN?
32.6% of residents in Pequot Lakes 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 Pequot Lakes?
Key cost-of-living indicators for Pequot Lakes, MN: median home value is $246,400 (1% above national), median rent is $792/month, and median household income is $66,974. The home-value-to-income ratio is 3.7x, a moderate figure by national standards.
What is the poverty rate in Pequot Lakes?
The poverty rate in Pequot Lakes, MN is 5.5%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Pequot Lakes, MN?
Pequot Lakes's population is 0.8% White, 1.8% Hispanic or Latino, 0.0% Black or African American, 0.2% Asian, and 0.5% two or more races. 0.7% of residents are foreign-born.