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These days, finding an affordable place to live in the Lake Shore area can be challenging. Home prices in Lake Shore are now at a median cost of $444,947, higher than the Minnesota average of $345,793.
The average cost of rent is $938/mo in Lake Shore, primarily driven by the current value of real estate in the Lake Shore area. In Lake Shore, 7.43% of households rent, and 46.64% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Lake Shore is $7,440 per month. Households that rent pay about 12.61% of their income on rent here. Lake Shore’s most expensive areas are in the central regions, while the cheapest areas are in the northern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Nisswa, MN: equally priced homes
- East Gull Lake, MN: equally priced homes
- Pequot Lakes, MN: less expensive homes
- Lake Hubert, MN: less expensive homes
- Jenkins, MN: less expensive homes
- Breezy Point, MN: less expensive homes
- Merrifield, MN: less expensive homes
- Baxter, MN: less expensive homes
- Sylvan, MN: less expensive homes
- Riverton, MN: less expensive homes
Cities with Similar Populations
- La Plata, NM: less expensive homes
- Mallory, WV: less expensive homes
- Waterford, ME: less expensive homes
- Welaka, FL: less expensive homes
- Lincolnville, SC: less expensive homes
- Lime Springs, IA: less expensive homes
- Lima Center, WI: less expensive homes
- Lehigh, ND: less expensive homes
- Leavenworth, IN: less expensive homes
- Laurel, NY: higher priced homes
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