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Affordable
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These days, finding an affordable place to live in the Forest Lake area can be challenging. Home prices in Forest Lake are now at a median cost of $392,794, higher than the Minnesota average of $345,793.
The average cost of rent is $1,397/mo in Forest Lake, primarily driven by the current value of real estate in the Forest Lake area. In Forest Lake, 27.84% of households rent, and 27.21% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Forest Lake is $8,365 per month. Households that rent pay about 16.71% of their income on rent here. Forest Lake’s most expensive areas are in the northeastern regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Wyoming, MN: equally priced homes
- Columbus, MN: higher priced homes
- Scandia, MN: higher priced homes
- Hugo, MN: higher priced homes
- Chisago City, MN: equally priced homes
- Centerville, MN: equally priced homes
- Lino Lakes, MN: equally priced homes
- Stacy, MN: less expensive homes
- Marine On St. Croix, MN: higher priced homes
- Lindstrom, MN: equally priced homes
Cities with Similar Populations
- Walled Lake, MI: less expensive homes
- Godfrey, IL: less expensive homes
- Waunakee, WI: higher priced homes
- Grand Island, NY: less expensive homes
- Great Neck, NY: higher priced homes
- Greenfield, CA: higher priced homes
- Watervliet, NY: less expensive homes
- Guilford, CT: higher priced homes
- Washington Court House, OH: less expensive homes
- Hannibal, MO: less expensive homes
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