Living in Medicine Lake, Minnesota
Cost of living, income, home prices, rent and demographics of Medicine Lake · Census data 2020–2024
Medicine Lake has 596 residents with a median age of 44.5. The median household income is $183,750 (106% higher than the Minnesota median), the median home value is $1,083,300, the median rent is $1,150/month.
Medicine Lake is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Medicine Lake at a glance
- Population
- 596
- Median age
- 44.5State: 38.8
- Median household income
- $183,750State: $89,062
- Median home value
- $1,083,300State: $329,300
- Median rent
- $1,150/moState: $1,280
- Homeowners
- 81.2%
- Bachelor's degree or higher
- 70.4%
- Average commute
- 17 min
Is Medicine Lake a good place to live?
Pros: Median household income 106% higher than the Minnesota median; an average commute of 17 minutes; a poverty rate of 2.7%.
Cons: Home values 229% higher than the state median.
The weather is best in June to September.
Cost of living in Medicine Lake
Housing is the biggest part of the cost of living. In Medicine Lake the median home value is $1,083,300, 226% higher than the U.S. median. Renters pay a median of $1,150 per month, which is 26.3% of household income. Homeowners with a mortgage pay $4,001 a month in housing costs.
Medicine Lake median household income
The median household income in Medicine Lake is $183,750 and the income per person is $107,750. 2.7% of residents live below the poverty line (Minnesota: 9.3%).
Housing in Medicine Lake: homes for sale and rent
- Housing units
- 237
- Owner-occupied
- 81.2%
- Renter-occupied
- 18.8%
- Vacant
- 1.3%Includes seasonal homes
- Median year built
- 1966
- Average household size
- 2.55
Medicine Lake demographics
- Population
- 596
- Median age
- 44.5
- Under 18
- 27.7%
- 65 and older
- 14.4%
- Households
- 234
- Foreign-born
- 5.7%
- Veterans
- 3.5%Adults 18+
Hispanic or Latino can be of any race. Population history of Medicine Lake ›
Education in Medicine Lake
70.4% of adults 25 and older in Medicine Lake have a bachelor's degree or higher (Minnesota: 39.4%), and 31.3% have a graduate or professional degree.
Jobs and commute in Medicine Lake
- Unemployment rate
- 0%State: 4.1%
- Average commute
- 17 minState: 23 min
- Work from home
- 19.9%
- Drive alone
- 79.8%
- Public transit
- 0%
- Walk to work
- 0%
- Homes with broadband
- 98.3%
Medicine Lake vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Medicine Lake | 596 | $183,750 | $1,083,300 | $1,150 |
| Plymouth | 79,220 | $136,534 | $491,200 | $1,766 |
| Golden Valley | 21,725 | $108,772 | $431,400 | $1,785 |
| New Hope | 21,181 | $77,662 | $337,000 | $1,335 |
| Crystal | 22,476 | $92,513 | $296,100 | $1,467 |
| St. Louis Park | 49,594 | $101,648 | $386,800 | $1,644 |
| Robbinsdale | 14,234 | $88,252 | $295,600 | $1,758 |
| Minnetonka | 53,064 | $119,517 | $475,800 | $1,779 |
| Hopkins | 18,819 | $75,234 | $375,600 | $1,468 |
More for people moving to Medicine Lake
Medicine Lake ZIP code ›Weather and climate ›Living in Medicine Lake: FAQ
What is the median household income in Medicine Lake, MN?
The median household income in Medicine Lake is $183,750, 106% 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 Medicine Lake?
The median home value in Medicine Lake is $1,083,300, compared with $329,300 in Minnesota.
How much is rent in Medicine Lake?
The median gross rent in Medicine Lake is $1,150 per month, about 26.3% of household income.
Is Medicine Lake, MN a good place to live?
Pluses: median household income 106% higher than the Minnesota median; an average commute of 17 minutes; a poverty rate of 2.7%. Minuses: home values 229% higher than the state median.
What is the median age in Medicine Lake?
The median age in Medicine Lake is 44.5 years (Minnesota: 38.8).
How long is the commute in Medicine Lake?
The average commute to work in Medicine Lake is 17 minutes; 19.9% of workers work from home.
What is the unemployment rate in Medicine Lake?
The unemployment rate in Medicine Lake is 0% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Medicine Lake?
70.4% of adults in Medicine 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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