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These days, finding an affordable place to live in the Lax Lake area can be challenging. Home prices in Lax Lake are now at a median cost of $124,282, lower than the Minnesota average of $269,934.
The average cost of rent is $871/mo in Lax Lake, primarily driven by the current value of real estate in the Lax Lake area. While nearly 47.65% of residents own their homes outright in Lax Lake, 7.76% rent.
Housing affordability isn’t just about home prices, though. The average household income in Lax Lake is $5,982 per month. Households that rent pay about 14.56% of their income on rent here. Lax Lake's most expensive areas are in the northeastern regions, while the cheapest areas are in the northern parts of the city.
Nearby Cities
- Silver Bay, MN: higher priced homes
- Beaver Bay, MN: higher priced homes
- East Beaver Bay, MN: higher priced homes
- Finland, MN: higher priced homes
- Little Marais, MN: higher priced homes
- Whyte, MN: higher priced homes
- Murphy City, MN: higher priced homes
- Wales, MN: higher priced homes
- Schroeder, MN: higher priced homes
- Highland, MN: higher priced homes
Cities with Similar Populations
- Idledale, CO: higher priced homes
- Singleton, TX: less expensive homes
- Sidney, TX: higher priced homes
- Short Tract, NY: less expensive homes
- Kauneonga Lake, NY: higher priced homes
- Junction, IL: less expensive homes
- Jordan, IN: less expensive homes
- Joan, AR: higher priced homes
- Jerusalem, AR: less expensive homes
- Jericho, KY: higher priced homes
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