Round Lake, MN
Population 383 · Minnesota
About Round Lake, MN
Round Lake is a small community located in Minnesota with a population of 383 residents according to the latest US Census Bureau American Community Survey data. The median household income is $63,661 per year, which is 15% below 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 Round Lake features a median home value of $87,800, which is 64% below the national median of $244,900. This makes Round Lake one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $593, 49% below the national average of $1,163/month. Of the 211 total housing units, 74% are owner-occupied (134 units) and 26% are renter-occupied (47 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Round Lake shows an unemployment rate of 4.9%, which is near the national rate of 3.7%. The poverty rate stands at 5.8%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Round Lake have an average one-way commute time of 24.4 minutes.
Education & Demographics
10.0% of Round 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 7.8% White, 6.5% Hispanic or Latino, 0.0% Black or African American, and 1.0% Asian residents, with 7.6% of the population being foreign-born.
Cost of Living in Round Lake, MN
Compared to national averages, Round Lake has a median household income of $63,661 (15% below the national median of $75,149). Home values average $87,800, which is 64% below the national median. Monthly rent at $593 is 49% below the US average of $1,163. Within Minnesota, Round Lake's income is 14% below the state average of $74,221, and home values are 57% below the state median of $204,472.
Why Live in Round Lake, MN?
Round Lake offers affordable housing with a median home value of $87,800, below the US average of $244,900, and rent that’s lower than the national average at $593/month, and a low poverty rate of 5.8%, better than the national average. Additionally, the city features short commute times averaging just 24.4 minutes.
Potential considerations include median household income ($63,661) that falls below the national average. However, Round Lake’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Round Lake has a population of 383 with a median age of 44.9 years. Compare Round Lake with other cities to see how it stacks up, or explore all cities in Minnesota.
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Economy & Education
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Other Cities in Minnesota
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Round Lake
What is the population of Round Lake, MN?
The population of Round Lake, MN is 383 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 Round Lake?
The median household income in Round Lake, MN is $63,661 per year, which is 15% below the national median of $75,149.
What is the median home value in Round Lake?
The median home value in Round Lake, MN is $87,800, which is 64% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Round Lake?
The median monthly rent in Round Lake, MN is $593, which is 49% below the national average of $1,163/month.
What is the unemployment rate in Round Lake?
The unemployment rate in Round Lake, MN is 4.9%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Round Lake, MN a good place to live?
Round Lake offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 383 and a median age of 44.9, the city appeals to a broad range of residents.
How educated is Round Lake, MN?
10.0% of residents in Round 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 Round Lake?
Key cost-of-living indicators for Round Lake, MN: median home value is $87,800 (64% below national), median rent is $593/month, and median household income is $63,661. The home-value-to-income ratio is 1.4x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Round Lake?
The poverty rate in Round Lake, MN is 5.8%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Round Lake, MN?
Round Lake's population is 7.8% White, 6.5% Hispanic or Latino, 0.0% Black or African American, 1.0% Asian, and 1.8% two or more races. 7.6% of residents are foreign-born.