The Lakes, MN
Population 666 · Minnesota
About The Lakes, MN
The Lakes is a small community located in Minnesota with a population of 666 residents according to the latest US Census Bureau American Community Survey data. The median household income is $88,929 per year, which is 18% above the national median of $75,149. The median age of 63.4 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 The Lakes features a median home value of $391,900, which is 60% above the national median of $244,900. This places The Lakes in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $0, 100% below the national average of $1,163/month. Of the 780 total housing units, 94% are owner-occupied (321 units) and 6% are renter-occupied (19 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in The Lakes shows an unemployment rate of 1.8%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 3.5%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in The Lakes have an average one-way commute time of 33 minutes.
Education & Demographics
30.4% of The 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 0.0% White, 2.0% Hispanic or Latino, 0.0% Black or African American, and 2.6% Asian residents, with 0.6% of the population being foreign-born.
Cost of Living in The Lakes, MN
Compared to national averages, The Lakes has a median household income of $88,929 (18% above the national median of $75,149). Home values average $391,900, which is 60% above the national median. Monthly rent at $0 is 100% below the US average of $1,163. Within Minnesota, The Lakes's income is 20% above the state average of $74,221, and home values are 92% above the state median of $204,472.
Why Live in The Lakes, MN?
The Lakes offers a strong local economy with a median household income of $88,929, well above the national average, and rent that’s lower than the national average at $0/month, and a strong job market with an unemployment rate of just 1.8%. Additionally, the city features a low poverty rate of 3.5%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $391,900. However, The Lakes’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
The Lakes has a population of 666 with a median age of 63.4 years. Compare The Lakes with other cities to see how it stacks up, or explore all cities in Minnesota.
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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 The Lakes
What is the population of The Lakes, MN?
The population of The Lakes, MN is 666 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 The Lakes?
The median household income in The Lakes, MN is $88,929 per year, which is 18% above the national median of $75,149.
What is the median home value in The Lakes?
The median home value in The Lakes, MN is $391,900, which is 60% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in The Lakes?
The median monthly rent in The Lakes, MN is $0, which is 100% below the national average of $1,163/month.
What is the unemployment rate in The Lakes?
The unemployment rate in The Lakes, MN is 1.8%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is The Lakes, MN a good place to live?
The Lakes offers above-average incomes, a competitive housing market, and a strong job market. With a population of 666 and a median age of 63.4, the city appeals to established professionals and retirees.
How educated is The Lakes, MN?
30.4% of residents in The 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 The Lakes?
Key cost-of-living indicators for The Lakes, MN: median home value is $391,900 (60% above national), median rent is $0/month, and median household income is $88,929. The home-value-to-income ratio is 4.4x, a moderate figure by national standards.
What is the poverty rate in The Lakes?
The poverty rate in The Lakes, MN is 3.5%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is The Lakes, MN?
The Lakes's population is 0.0% White, 2.0% Hispanic or Latino, 0.0% Black or African American, 2.6% Asian, and 0.0% two or more races. 0.6% of residents are foreign-born.