Wood Lake, MN
Population 398 · Minnesota
About Wood Lake, MN
Wood Lake is a small community in Minnesota with a population of 398 residents. The median household income is $68,958 per year, which is near the national average. The median age in Wood Lake is 46.5 years.
Housing in Wood Lake has a median home value of $85,000 and median monthly rent of $650. Of the 185 total housing units, the majority are owner-occupied, with 157 owner-occupied and 24 renter-occupied units.
The unemployment rate in Wood Lake is 1.5% and the poverty rate is 7.5%. 16.0% of residents hold a bachelor's degree or higher. The average commute time is 27.6 minutes.
Cost of Living in Wood Lake, MN
Compared to national averages, Wood Lake has a median household income of $68,958 (8% below the national median of $75,149). Home values average $85,000, which is 65% below the national median. Monthly rent at $650 is 44% below the US average of $1,163. Within Minnesota, Wood Lake's income is 7% below the state average of $74,221, and home values are 58% below the state median of $204,472.
Why Live in Wood Lake, MN?
Wood Lake offers affordable housing with a median home value of $85,000, below the US average of $244,900, and rent that’s lower than the national average at $650/month, and a strong job market with an unemployment rate of just 1.5%. Additionally, the city features a low poverty rate of 7.5%, better than the national average.
Potential considerations include median household income ($68,958) that falls below the national average. However, Wood Lake’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Wood Lake has a population of 398 with a median age of 46.5 years. Compare Wood Lake with other cities to see how it stacks up, or explore all cities in Minnesota.
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Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Wood Lake
What is the population of Wood Lake, MN?
The population of Wood Lake, MN is 398 according to the latest Census data.
What is the median household income in Wood Lake?
The median household income in Wood Lake, MN is $68,958 per year.
What is the median home value in Wood Lake?
The median home value in Wood Lake, MN is $85,000.
What is the average rent in Wood Lake?
The median monthly rent in Wood Lake, MN is $650.
What is the unemployment rate in Wood Lake?
The unemployment rate in Wood Lake, MN is 1.5%.