Living in Forest Lake, Minnesota
Cost of living, income, home prices, rent and demographics of Forest Lake · Census data 2020–2024
Forest Lake has 20,729 residents with a median age of 39.6. The median household income is $92,944 (4% higher than the Minnesota median), the median home value is $393,500, the median rent is $1,421/month.
Forest Lake at a glance
- Population
- 20,729
- Median age
- 39.6State: 38.8
- Median household income
- $92,944State: $89,062
- Median home value
- $393,500State: $329,300
- Median rent
- $1,421/moState: $1,280
- Homeowners
- 72.9%
- Bachelor's degree or higher
- 35.4%
- Average commute
- 24 min
Is Forest Lake a good place to live?
Pros: Median household income 4% higher than the Minnesota median; a poverty rate of 7%.
Cons: Home values 19% higher than the state median; an average commute of 24 minutes; unemployment of 4.3%.
The weather is best in June to September.
Cost of living in Forest Lake
Housing is the biggest part of the cost of living. In Forest Lake the median home value is $393,500, 18% higher than the U.S. median. Renters pay a median of $1,421 per month, which is 29.7% of household income. Homeowners with a mortgage pay $2,141 a month in housing costs.
Forest Lake median household income
The median household income in Forest Lake is $92,944 and the income per person is $46,249. 7% of residents live below the poverty line (Minnesota: 9.3%).
Housing in Forest Lake: homes for sale and rent
- Housing units
- 8,723
- Owner-occupied
- 72.9%
- Renter-occupied
- 27.1%
- Vacant
- 5%Includes seasonal homes
- Median year built
- 1988
- Average household size
- 2.49
Forest Lake demographics
- Population
- 20,729
- Median age
- 39.6
- Under 18
- 23.2%
- 65 and older
- 16.9%
- Households
- 8,286
- Foreign-born
- 5.2%
- Veterans
- 4.7%Adults 18+
Hispanic or Latino can be of any race. Population history of Forest Lake ›
Education in Forest Lake
35.4% of adults 25 and older in Forest Lake have a bachelor's degree or higher (Minnesota: 39.4%), and 11.7% have a graduate or professional degree.
Jobs and commute in Forest Lake
- Unemployment rate
- 4.3%State: 4.1%
- Average commute
- 24 minState: 23 min
- Work from home
- 17.7%
- Drive alone
- 72.2%
- Public transit
- 0.2%
- Walk to work
- 2.5%
- Homes with broadband
- 92.6%
Forest Lake vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Forest Lake | 20,729 | $92,944 | $393,500 | $1,421 |
| Hugo | 16,340 | $116,228 | $408,900 | $1,891 |
| Wyoming | 8,087 | $107,565 | $365,700 | $1,166 |
| Scandia | 3,950 | $101,953 | $475,800 | — |
| Columbus | 4,248 | $123,194 | $460,200 | $1,653 |
| Centerville | 3,935 | $122,541 | $376,900 | $1,398 |
| Chisago City | 5,899 | $102,197 | $413,000 | $1,321 |
| Lino Lakes | 22,113 | $127,181 | $407,200 | $1,874 |
| Marine on St. Croix | 740 | $126,250 | $470,100 | $2,250 |
More for people moving to Forest Lake
Forest Lake ZIP code ›Weather and climate ›Living in Forest Lake: FAQ
What is the median household income in Forest Lake, MN?
The median household income in Forest Lake is $92,944, 4% higher than 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 Forest Lake?
The median home value in Forest Lake is $393,500, compared with $329,300 in Minnesota.
How much is rent in Forest Lake?
The median gross rent in Forest Lake is $1,421 per month, about 29.7% of household income.
Is Forest Lake, MN a good place to live?
Pluses: median household income 4% higher than the Minnesota median; a poverty rate of 7%. Minuses: home values 19% higher than the state median; an average commute of 24 minutes; unemployment of 4.3%.
What is the median age in Forest Lake?
The median age in Forest Lake is 39.6 years (Minnesota: 38.8).
How long is the commute in Forest Lake?
The average commute to work in Forest Lake is 24 minutes; 17.7% of workers work from home.
What is the unemployment rate in Forest Lake?
The unemployment rate in Forest Lake is 4.3% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Forest Lake?
35.4% of adults in Forest 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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