Living in The Lakes, Minnesota
Cost of living, income, home prices, rent and demographics of The Lakes · Census data 2020–2024
The Lakes has 594 residents with a median age of 62.7. The median household income is $87,969 (about the same as the Minnesota median), the median home value is $397,100.
The Lakes is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
The Lakes at a glance
- Population
- 594
- Median age
- 62.7State: 38.8
- Median household income
- $87,969State: $89,062
- Median home value
- $397,100State: $329,300
- Homeowners
- 92.7%
- Bachelor's degree or higher
- 28.3%
- Average commute
- 30 min
Is The Lakes a good place to live?
Pros: Unemployment of 1.4%; a poverty rate of 3.5%.
Cons: Median household income about the same as the Minnesota median; home values 21% higher than the state median; an average commute of 30 minutes.
The weather is best in June to September.
Cost of living in The Lakes
Housing is the biggest part of the cost of living. In The Lakes the median home value is $397,100, 19% higher than the U.S. median. Renters pay a median of — per month. Homeowners with a mortgage pay $2,045 a month in housing costs.
The Lakes median household income
The median household income in The Lakes is $87,969 and the income per person is $57,962. 3.5% of residents live below the poverty line (Minnesota: 9.3%).
Housing in The Lakes: homes for sale and rent
- Housing units
- 783
- Owner-occupied
- 92.7%
- Renter-occupied
- 7.3%
- Vacant
- 60%Includes seasonal homes
- Median year built
- 1983
- Average household size
- 1.90
60% of homes are vacant most of the year, a sign that The Lakes has many vacation and second homes.
The Lakes demographics
- Population
- 594
- Median age
- 62.7
- Under 18
- 10.6%
- 65 and older
- 45.1%
- Households
- 313
- Foreign-born
- 0.7%
- Veterans
- 11.7%Adults 18+
Hispanic or Latino can be of any race. Population history of The Lakes ›
Education in The Lakes
28.3% of adults 25 and older in The Lakes have a bachelor's degree or higher (Minnesota: 39.4%), and 9% have a graduate or professional degree.
Jobs and commute in The Lakes
- Unemployment rate
- 1.4%State: 4.1%
- Average commute
- 30 minState: 23 min
- Work from home
- 18.1%
- Drive alone
- 68.8%
- Public transit
- 0%
- Walk to work
- 2.5%
- Homes with broadband
- 93%
The Lakes vs nearby towns
More for people moving to The Lakes
The Lakes ZIP code ›Weather and climate ›Living in The Lakes: FAQ
What is the median household income in The Lakes, MN?
The median household income in The Lakes is $87,969, 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 The Lakes?
The median home value in The Lakes is $397,100, compared with $329,300 in Minnesota.
Is The Lakes, MN a good place to live?
Pluses: unemployment of 1.4%; a poverty rate of 3.5%. Minuses: median household income about the same as the Minnesota median; home values 21% higher than the state median; an average commute of 30 minutes.
What is the median age in The Lakes?
The median age in The Lakes is 62.7 years (Minnesota: 38.8).
How long is the commute in The Lakes?
The average commute to work in The Lakes is 30 minutes; 18.1% of workers work from home.
What is the unemployment rate in The Lakes?
The unemployment rate in The Lakes is 1.4% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is The Lakes?
28.3% of adults in The Lakes 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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