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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 $178,740, lower than the Minnesota average of $345,793.
The average cost of rent is $1,231/mo in Lax Lake, primarily driven by the current value of real estate in the Lax Lake area. In Lax Lake, 9.00% of households rent, and 61.00% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Lax Lake is $6,276 per month. Households that rent pay about 19.61% of their income on rent here. Lax Lake’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
- 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: higher priced 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: equally priced homes
- Joan, AR: less expensive homes
- Jerusalem, AR: less expensive homes
- Jericho, KY: higher priced homes
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