Living in Wood Lake, Minnesota
Cost of living, income, home prices, rent and demographics of Wood Lake · Census data 2020–2024
Wood Lake has 368 residents with a median age of 47.7. The median household income is $65,000 (27% lower than the Minnesota median), the median home value is $91,700, the median rent is $628/month.
Wood Lake is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Wood Lake at a glance
- Population
- 368
- Median age
- 47.7State: 38.8
- Median household income
- $65,000State: $89,062
- Median home value
- $91,700State: $329,300
- Median rent
- $628/moState: $1,280
- Homeowners
- 84.9%
- Bachelor's degree or higher
- 15.8%
- Average commute
- 25 min
Is Wood Lake a good place to live?
Pros: Home values 72% lower than the state median; unemployment of 1.1%; a poverty rate of 8.7%.
Cons: Median household income 27% lower than the Minnesota median; an average commute of 25 minutes.
The weather is best in June to September.
Cost of living in Wood Lake
Housing is the biggest part of the cost of living. In Wood Lake the median home value is $91,700, 72% lower than the U.S. median. Renters pay a median of $628 per month, which is 36.5% of household income. Homeowners with a mortgage pay $1,043 a month in housing costs.
Wood Lake median household income
The median household income in Wood Lake is $65,000 and the income per person is $32,546. 8.7% of residents live below the poverty line (Minnesota: 9.3%).
Housing in Wood Lake: homes for sale and rent
- Housing units
- 176
- Owner-occupied
- 84.9%
- Renter-occupied
- 15.1%
- Vacant
- 5.7%Includes seasonal homes
- Median year built
- 1938
- Average household size
- 2.22
Wood Lake demographics
- Population
- 368
- Median age
- 47.7
- Under 18
- 22%
- 65 and older
- 20.7%
- Households
- 166
- Foreign-born
- 0%
- Veterans
- 11.5%Adults 18+
Hispanic or Latino can be of any race. Population history of Wood Lake ›
Education in Wood Lake
15.8% of adults 25 and older in Wood Lake have a bachelor's degree or higher (Minnesota: 39.4%), and 3% have a graduate or professional degree.
Jobs and commute in Wood Lake
- Unemployment rate
- 1.1%State: 4.1%
- Average commute
- 25 minState: 23 min
- Work from home
- 5.1%
- Drive alone
- 78.4%
- Public transit
- 0%
- Walk to work
- 5.1%
- Homes with broadband
- 83.1%
Wood Lake vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Wood Lake | 368 | $65,000 | $91,700 | $628 |
| Hanley Falls | 248 | $61,563 | $75,300 | $630 |
| Echo | 197 | $70,833 | $103,600 | $617 |
| Cottonwood | 1,061 | $97,500 | $176,200 | $683 |
| Belview | 362 | $74,583 | $93,600 | $838 |
| Granite Falls | 2,685 | $59,375 | $136,700 | $920 |
| Vesta | 311 | $66,875 | $105,600 | — |
| Sacred Heart | 481 | $70,667 | $85,700 | $692 |
| Seaforth | 100 | $80,000 | — | — |
More for people moving to Wood Lake
Wood Lake ZIP code ›Weather and climate ›Living in Wood Lake: FAQ
What is the median household income in Wood Lake, MN?
The median household income in Wood Lake is $65,000, 27% 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 Wood Lake?
The median home value in Wood Lake is $91,700, compared with $329,300 in Minnesota.
How much is rent in Wood Lake?
The median gross rent in Wood Lake is $628 per month, about 36.5% of household income.
Is Wood Lake, MN a good place to live?
Pluses: home values 72% lower than the state median; unemployment of 1.1%; a poverty rate of 8.7%. Minuses: median household income 27% lower than the Minnesota median; an average commute of 25 minutes.
What is the median age in Wood Lake?
The median age in Wood Lake is 47.7 years (Minnesota: 38.8).
How long is the commute in Wood Lake?
The average commute to work in Wood Lake is 25 minutes; 5.1% of workers work from home.
What is the unemployment rate in Wood Lake?
The unemployment rate in Wood Lake is 1.1% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Wood Lake?
15.8% of adults in Wood 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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