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These days, finding an affordable place to live in the Wood Lake area can be challenging. Home prices in Wood Lake are now at a median cost of $157,814, lower than the Minnesota average of $345,793.
The average cost of rent is $634/mo in Wood Lake, primarily driven by the current value of real estate in the Wood Lake area. In Wood Lake, 14.80% of households rent, and 57.34% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Wood Lake is $6,970 per month. Households that rent pay about 9.10% of their income on rent here. Wood Lake’s most expensive areas are in the northern 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
- Hanley Falls, MN: higher priced homes
- Echo, MN: equally priced homes
- Cottonwood, MN: higher priced homes
- Granite Falls, MN: equally priced homes
- Hazel Run, MN: higher priced homes
- Belview, MN: higher priced homes
- Vesta, MN: equally priced homes
- Sacred Heart, MN: equally priced homes
- Clarkfield, MN: less expensive homes
- Milroy, MN: higher priced homes
Cities with Similar Populations
- Wadestown, WV: higher priced homes
- Collins Chapel, AL: higher priced homes
- Cookstown, NJ: higher priced homes
- Cowansville, PA: equally priced homes
- Cowden, IL: less expensive homes
- Craft, TX: higher priced homes
- Crescent Lake, ME: higher priced homes
- Crestmore Heights, CA: higher priced homes
- Crowell, TX: less expensive homes
- Vandiver, AL: equally priced homes
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