Living in Bingham Lake, Minnesota
Cost of living, income, home prices, rent and demographics of Bingham Lake · Census data 2020–2024
Bingham Lake has 95 residents with a median age of 44.3. The median household income is $88,125 (about the same as the Minnesota median), the median home value is $216,700, the median rent is $917/month.
Bingham Lake is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Bingham Lake at a glance
- Population
- 95
- Median age
- 44.3State: 38.8
- Median household income
- $88,125State: $89,062
- Median home value
- $216,700State: $329,300
- Median rent
- $917/moState: $1,280
- Homeowners
- 87.8%
- Bachelor's degree or higher
- 26.9%
- Average commute
- 19 min
Is Bingham Lake a good place to live?
Pros: Home values 34% lower than the state median; an average commute of 19 minutes.
Cons: Median household income about the same as the Minnesota median; unemployment of 6%; a poverty rate of 12.6%.
The weather is best in June to September.
Cost of living in Bingham Lake
Housing is the biggest part of the cost of living. In Bingham Lake the median home value is $216,700, 35% lower than the U.S. median. Renters pay a median of $917 per month, which is 51% of household income. Homeowners with a mortgage pay $1,250 a month in housing costs.
Bingham Lake median household income
The median household income in Bingham Lake is $88,125 and the income per person is $36,991. 12.6% of residents live below the poverty line (Minnesota: 9.3%).
Housing in Bingham Lake: homes for sale and rent
- Housing units
- 50
- Owner-occupied
- 87.8%
- Renter-occupied
- 12.2%
- Vacant
- 18%Includes seasonal homes
- Median year built
- 1938
- Average household size
- 2.32
Bingham Lake demographics
- Population
- 95
- Median age
- 44.3
- Under 18
- 28.4%
- 65 and older
- 13.7%
- Households
- 41
- Foreign-born
- 2.1%
- Veterans
- 10.3%Adults 18+
Hispanic or Latino can be of any race. Population history of Bingham Lake ›
Education in Bingham Lake
26.9% of adults 25 and older in Bingham Lake have a bachelor's degree or higher (Minnesota: 39.4%), and 6% have a graduate or professional degree.
Jobs and commute in Bingham Lake
- Unemployment rate
- 6%State: 4.1%
- Average commute
- 19 minState: 23 min
- Work from home
- 8.5%
- Drive alone
- 78.7%
- Public transit
- 0%
- Walk to work
- 0%
- Homes with broadband
- 78%
Bingham Lake vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Bingham Lake | 95 | $88,125 | $216,700 | $917 |
| Windom | 4,799 | $74,899 | $169,700 | $806 |
| Mountain Lake | 2,070 | $66,490 | $143,100 | $929 |
| Jeffers | 368 | $50,500 | $87,400 | $694 |
| Butterfield | 535 | $64,083 | $90,400 | $678 |
| Odin | 126 | $46,875 | $75,000 | — |
| Comfrey | 338 | $61,875 | $96,300 | $622 |
| Heron Lake | 593 | $68,000 | $88,600 | $833 |
| Storden | 244 | $83,750 | $81,000 | $1,037 |
More for people moving to Bingham Lake
Bingham Lake ZIP code ›Weather and climate ›Living in Bingham Lake: FAQ
What is the median household income in Bingham Lake, MN?
The median household income in Bingham Lake is $88,125, about the same as the Minnesota median of $89,062 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Bingham Lake?
The median home value in Bingham Lake is $216,700, compared with $329,300 in Minnesota.
How much is rent in Bingham Lake?
The median gross rent in Bingham Lake is $917 per month, about 51% of household income.
Is Bingham Lake, MN a good place to live?
Pluses: home values 34% lower than the state median; an average commute of 19 minutes. Minuses: median household income about the same as the Minnesota median; unemployment of 6%; a poverty rate of 12.6%.
What is the median age in Bingham Lake?
The median age in Bingham Lake is 44.3 years (Minnesota: 38.8).
How long is the commute in Bingham Lake?
The average commute to work in Bingham Lake is 19 minutes; 8.5% of workers work from home.
What is the unemployment rate in Bingham Lake?
The unemployment rate in Bingham Lake is 6% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Bingham Lake?
26.9% of adults in Bingham Lake have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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