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These days, finding an affordable place to live in the Prior Lake area can be challenging. Home prices in Prior Lake are now at a median cost of $383,533, higher than the Minnesota average of $269,934.
The average cost of rent is $1,471/mo in Prior Lake, primarily driven by the current value of real estate in the Prior Lake area. While nearly 25.04% of residents own their homes outright in Prior Lake, 10.04% rent.
Housing affordability isn’t just about home prices, though. The average household income in Prior Lake is $10,551 per month. Households that rent pay about 13.95% of their income on rent here. Prior Lake's most expensive areas are in the southeastern regions, while the cheapest areas are in the southern parts of the city.
Nearby Cities
- Savage, MN: less expensive homes
- Marystown, MN: equally priced homes
- Shakopee, MN: less expensive homes
- Lydia, MN: higher priced homes
- Burnsville, MN: less expensive homes
- Lakeville, MN: equally priced homes
- Elko, MN: higher priced homes
- Bloomington, MN: less expensive homes
- Eden Prairie, MN: equally priced homes
- Jordan, MN: less expensive homes
Cities with Similar Populations
- Syracuse, UT: equally priced homes
- Foster City, CA: higher priced homes
- Granger, IN: less expensive homes
- Granite City, IL: less expensive homes
- Independence, KY: less expensive homes
- Jacksonville, AR: less expensive homes
- Kaysville, UT: higher priced homes
- Ken Caryl, CO: higher priced homes
- Kiryas Joel, NY: higher priced homes
- Knightdale, NC: less expensive homes
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