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Affordable
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These days, finding an affordable place to live in the Lake Park area can be challenging. Home prices in Lake Park are now at a median cost of $374,154, higher than the Minnesota average of $345,793.
The average cost of rent is $889/mo in Lake Park, primarily driven by the current value of real estate in the Lake Park area. In Lake Park, 9.23% of households rent, and 41.78% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Lake Park is $7,547 per month. Households that rent pay about 11.78% of their income on rent here. Lake Park’s most expensive areas are in the southeastern 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
- Sioux Valley, MN: equally priced homes
- Audubon, MN: equally priced homes
- Rollag, MN: equally priced homes
- Lake Eunice, MN: higher priced homes
- Westbury, MN: equally priced homes
- Callaway, MN: less expensive homes
- Hawley, MN: less expensive homes
- Shoreham, MN: equally priced homes
- Hitterdal, MN: less expensive homes
- Detroit Lakes, MN: less expensive homes
Cities with Similar Populations
- North Eastham, MA: higher priced homes
- Amity, AR: less expensive homes
- Laguardo, TN: higher priced homes
- Lakeside, MT: higher priced homes
- Lewiston, UT: equally priced homes
- Litchfield, ME: less expensive homes
- Luckey, OH: less expensive homes
- Mardela Springs, MD: less expensive homes
- Marissa, IL: less expensive homes
- Moline Acres, MO: less expensive homes
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