Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$275,583+3.7% YoY · prices are rising fast
Market right nowBalanced, leaning buyersMore homes for sale than last year, 16% have cut their price
Income needed to buy, per year$59,741About 0.8× the local median income ($73,427): affordable for a typical household
Days on market85 daysAbout the same pace as a year ago
The typical home in Lake County, MN is worth $275,583, up 3.7% from a year ago. That is well above what local incomes have historically supported: fair value is about $221,536, so the area is 24.4% overvalued. It is a balanced market, leaning toward buyers: homes take about 85 days to sell, listings are up 7% from a year ago, 16% of listings have had a price cut. A household needs about $59,741 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $73,427. In the latest IRS figures, 101 more people moved out than in.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$275,583
Change in 1 year
+3.7%
Overvalued %
+24.4%
Show 6 more
Fair home value
$221,536
Change in 5 years
+27.0%
Home value to income
3.8×
Monthly mortgage payment (20% down)
$1,494
Income needed to afford it
$59,741
Property tax rate
0.73%
Rent and investing
HUD Fair Market Rent, 2 bedrooms
$1,358
Market activity
Listings vs a year ago
+6.8%
Days on market
85
Listings with a price cut
15.5%
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Homes for sale
125
Pending sales per 100 listings
23
Asking price per sq ft
$275
People and jobs
Median household income
$73,427
Population change (1 year)
−0.1%
Unemployment rate
2.6%
Show 4 more
Population
10,746
Income adjusted for cost of living
$85,480
Net moves in (IRS)
−101
Cost of living (US = 100)
85.9
Schools, risk and environment
School rating (1 to 10)
4.5
FEMA hazard risk score (0 to 100)
33.9
Unhealthy air days a year
15
Show 4 more
Flood risk score
29.8
Wildfire risk score
62.3
Walkability (1 to 20)
6.5
Road, rail and air noise
53 dB
Questions people ask
Is Lake County, MN overvalued?
Home prices in Lake County, MN are well above what local incomes have historically supported: fair value is about $221,536, so the area is 24.4% overvalued.
Is Lake County, MN a buyer's or seller's market?
Lake County, MN is a balanced market, leaning toward buyers: homes take about 85 days to sell, listings are up 7% from a year ago, 16% of listings have had a price cut.
Are home prices going down in Lake County, MN?
Home values in Lake County, MN are up 3.7% over the last year.
How much do you need to earn to buy a home in Lake County, MN?
A household needs about $59,741 a year to afford the typical home in Lake County, MN at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $73,427.