Living in Lake Park, Minnesota
Cost of living, income, home prices, rent and demographics of Lake Park · Census data 2020–2024
Lake Park has 600 residents with a median age of 33.6. The median household income is $64,028 (28% lower than the Minnesota median), the median home value is $196,500, the median rent is $692/month.
Lake Park is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Lake Park at a glance
- Population
- 600
- Median age
- 33.6State: 38.8
- Median household income
- $64,028State: $89,062
- Median home value
- $196,500State: $329,300
- Median rent
- $692/moState: $1,280
- Homeowners
- 82.7%
- Bachelor's degree or higher
- 28.3%
- Average commute
- 28 min
Is Lake Park a good place to live?
Pros: Home values 40% lower than the state median; a poverty rate of 4.6%.
Cons: Median household income 28% lower than the Minnesota median; an average commute of 28 minutes.
The weather is best in June to September.
Cost of living in Lake Park
Housing is the biggest part of the cost of living. In Lake Park the median home value is $196,500, 41% lower than the U.S. median. Renters pay a median of $692 per month, which is 31.3% of household income. Homeowners with a mortgage pay $1,539 a month in housing costs.
Lake Park median household income
The median household income in Lake Park is $64,028 and the income per person is $32,229. 4.6% of residents live below the poverty line (Minnesota: 9.3%).
Housing in Lake Park: homes for sale and rent
- Housing units
- 267
- Owner-occupied
- 82.7%
- Renter-occupied
- 17.3%
- Vacant
- 13.5%Includes seasonal homes
- Median year built
- 1951
- Average household size
- 2.60
Lake Park demographics
- Population
- 600
- Median age
- 33.6
- Under 18
- 28.3%
- 65 and older
- 12.7%
- Households
- 231
- Foreign-born
- 0.2%
- Veterans
- 4.9%Adults 18+
Hispanic or Latino can be of any race. Population history of Lake Park ›
Education in Lake Park
28.3% of adults 25 and older in Lake Park have a bachelor's degree or higher (Minnesota: 39.4%), and 6.4% have a graduate or professional degree.
Jobs and commute in Lake Park
- Unemployment rate
- 0%State: 4.1%
- Average commute
- 28 minState: 23 min
- Work from home
- 2.2%
- Drive alone
- 81.6%
- Public transit
- 0%
- Walk to work
- 0%
- Homes with broadband
- 90.5%
Lake Park vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Lake Park | 600 | $64,028 | $196,500 | $692 |
| Audubon | 388 | $67,500 | $207,000 | $1,054 |
| Hitterdal | 314 | $48,750 | $151,600 | — |
| Hawley | 2,178 | $99,188 | $280,400 | $733 |
| Callaway | 224 | $53,125 | $87,500 | $913 |
| Detroit Lakes | 10,025 | $62,958 | $265,800 | $954 |
| Ulen | 413 | $60,556 | $174,300 | $903 |
| Ogema | 257 | $55,250 | $73,000 | $700 |
| White Earth | 506 | $17,450 | — | $300 |
More for people moving to Lake Park
Lake Park ZIP code ›Weather and climate ›Living in Lake Park: FAQ
What is the median household income in Lake Park, MN?
The median household income in Lake Park is $64,028, 28% lower 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 Lake Park?
The median home value in Lake Park is $196,500, compared with $329,300 in Minnesota.
How much is rent in Lake Park?
The median gross rent in Lake Park is $692 per month, about 31.3% of household income.
Is Lake Park, MN a good place to live?
Pluses: home values 40% lower than the state median; a poverty rate of 4.6%. Minuses: median household income 28% lower than the Minnesota median; an average commute of 28 minutes.
What is the median age in Lake Park?
The median age in Lake Park is 33.6 years (Minnesota: 38.8).
How long is the commute in Lake Park?
The average commute to work in Lake Park is 28 minutes; 2.2% of workers work from home.
What is the unemployment rate in Lake Park?
The unemployment rate in Lake Park is 0% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Lake Park?
28.3% of adults in Lake Park 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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