The Most Affordable Neighborhoods in Hoyt Lakes, MN by Home Value

These days, finding an affordable place to live in the Hoyt Lakes area can be challenging. Home prices in Hoyt Lakes are now at a median cost of $97,239, lower than the Minnesota average of $345,793.

The average cost of rent is $1,159/mo in Hoyt Lakes, primarily driven by the current value of real estate in the Hoyt Lakes area. In Hoyt Lakes, 4.29% of households rent, and 55.41% of homeowners own their homes outright.

Housing affordability isn’t just about home prices, though. The average household income in Hoyt Lakes is $5,618 per month. Households that rent pay about 20.64% of their income on rent here. Hoyt Lakes’s most expensive areas are in the southeastern regions, while the cheapest areas are in the eastern parts of the city.

Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.

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