The Most Affordable Neighborhoods in Lake of the Woods County, MN by Home Value

These days, finding an affordable place to live in the Lake of the Woods County area can be challenging. Home prices in Lake of the Woods County are now at a median cost of $230,964, lower than the Minnesota average of $345,793.

The average cost of rent is $986/mo in Lake of the Woods County, primarily driven by the current value of real estate in the Lake of the Woods County area. In Lake of the Woods County, 18.22% of households rent, and 57.68% of homeowners own their homes outright.

Housing affordability isn’t just about home prices, though. The average household income in Lake of the Woods County is $6,349 per month. Households that rent pay about 15.53% of their income on rent here. Lake of the Woods County’s most expensive areas are in the northern regions, while the cheapest areas are in the western parts of the county.

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

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