Lake Shore Minnesota Area Home Supply Charts

This page looks at a variety of Lake Shore Minnesota housing market data taken from the most recent 2020 American Community Survey census data. Housing units are structures such as a single family home, apartment community, mobile home park, public housing, etc. where a person or family live and live separately from other residents of the building. Figure 1 shows the total number of housing units for each city. Lake Shore depicts it has a Housing Units of 1,150 which is less than most other places in the local area.

Figure 2 illustrates the housing density in the Lake Shore housing market as measured by housing units per square land mile (includes single family homes, apartments, etc.) Lake Shore depicts it has a Housing Density of 90.6 which is the second smallest when sorted by housing density of all the other places in the greater region. The city with the highest housing density in the area is Baxter which depicts a density of 186.4 (about twice as large). Comparing housing density to the United States average of 38.9, Lake Shore is approximately 2.3 times bigger. Also, compared to the state of Minnesota, housing density of 30.7, Lake Shore is approximately 3.0 times bigger.

In Figure 4, Lake Shore area change in the number of housing units and is a forward gauge (along with population change) for any potential housing shortage. Lake Shore shows it has a Housing Unit Change of 12.9% which is more than all other places in the greater Lake Shore region. Comparing change in the housing units to the United States average of 5.7%, Lake Shore is approximately 2.3 times bigger. Also, benchmarked against the state of Minnesota, change in the housing units of 3.9%, Lake Shore is approximately 3.3 times bigger.

Figure 5 shows the percentage of rental property based on that they are occupied by renters as a percent of the total number of households in the community (including homes, apartments, etc.) Lake Shore shows it has a Renter Percent of 15.7% which is the third most of all other places in the local area. Figure 6 illustrates the total number of housing units that are occupied by owners. it has a Owner Percent of 84.3% which is less than most other places in the metro area.

Lake Shore Minnesota Home Cost Charts

Looking at the housing data provided in Figure 7, the average Lake Shore home price is illustrated for this community and a useful analysis of affordable housing. Lake Shore depicts it has a Median Home Value of $376,000 which is the largest of all places in the greater Lake Shore region. Figure 8 provides aggregate comparative data for the Lake Shore Minnesota metro area in terms of the median housing rental rate, apartment rent, etc. Lake Shore shows it has a Median Gross Rent of $780 which is less than most other places in the local area. The city with the highest rental rates in the area is Breezy Point which shows a rental rates of $1,288 (65.1% larger). Comparing rental rates to the United States average of $1,062, Lake Shore is approximately three-fourths the size. Also, compared with the state of Minnesota, rental rates of $977, Lake Shore is approximately three-fourths the size.

Figure 9 provides the frequency distribution of home prices for the area and is useful for understanding affordable housing fund. Lake Shore has one of the largest proportions of home price worth less than $50,000 at 6% of the total and is ranked #3. Only #2 Nisswa (7%), and #1 Pequot Lakes (12%) are larger. Second, it has the second smallest in terms of home price worth less than $50,000 of all the other places in the local area in terms of home price worth between $50,000 to $100,000 at 13% of the total. Third, it has the largest proportion of home price worth between $400,000 to $500,000 at 22% of the total and is ranked #1. Also, it has one of the largest proportions of home price worth between $1,000,000 to $1,500,000 at 7% of the total and is ranked #2. The only larger city being East Gull Lake with 7%. In addition, it has one of the largest proportions of home price worth between $1,500,000 to $2,000,000 at 7% of the total and is ranked #2. The only larger city being East Gull Lake with 7%.

Median owner costs for the real estate market are shown in Figure 10 and include the costs associated with any mortgage, utility expenses, insurance, and other miscellaneous costs. Lake Shore shows it has a Median Owner Cost of $1,447 which is the largest of all places in the greater Lake Shore region. Figure 11 shows the median amount of cost as a percent of total household income for people who own homes in the Lake Shore metro area. it has a Owner Cost as % of HH Income of 19% which is the second most cost as a percent of household income of all the places in the greater Lake Shore region. The next chart, Figure 12, provides a comparison chart of the median home cost as a percent of a median worker take home earnings and is thus a valuable measure of affordable housing. Lake Shore shows it has a Median Home Value as Percent of Median Earnings of 734% which is the second most median home value as a percent of median worker earnings of all the places in the greater Lake Shore region.

Figure 14 depicts the median cost of housing for owners with also have a mortgages (versus those who do not have a mortgage because mortgage cost is included.) Lake Shore depicts it has a Median Owner Costs-With Mortgage of $1,932 which is ranked #1 of all places in the greater Lake Shore region. Figure 15 is a chart that shows the median housing costs for owners who do not have mortgages (and therefore the cost of home ownership does not include mortgage cost.) it has a Median Owner Costs-Without Mortgage of $613 which is the second most median housing cost of all the places in the greater Lake Shore region.

Figure 16 shows the distribution in total housing cost for owners of property (so not renters.) This cost includes mortgages, lines of credit interest, utilities, taxes, insurance, etc. Lake Shore has the percentage of owner cost less than $300 less than most other places in the surrounding region at 11% of the total. Second, it has the smallest proportion of owner cost between $300 and $500 at 7% of the total. Third, it has one of the largest proportions of owner cost between $500 and $700 at 16% of the total and is ranked #3. Only #2 Breezy Point (16%), and #1 Pequot Lakes (17%) are larger. Also, it has the smallest proportion of owner cost between $700 and $1,000 at 14% of the total. In addition, it has the largest proportion of owner cost between $1,500 and $2,000 at 11% of the total and is ranked #1. Furthermore, it has the largest proportion of owner cost between $2,000 and $2,500 at 7% of the total and is ranked #1. Next it has the largest proportion of owner cost between $2,500 and $3,000 at 7% of the total and is ranked #1.

Next shown in Figure 17 is the housing cost as a percent of household income for people who own their homes and have a mortgages (thus the cost of financing the home is included.) Lake Shore shows it has a % of Income Owner Costs-With Mortgage of 22% which is the second most cost as a percent of household income of all the places in the greater Lake Shore region. The city with the highest cost as a percent of household income in the area is Breezy Point which indicates a cost as a percent of household income of 23% (7.8% larger). Housing cost as a percent of household income for owners who do not have a mortgage is shown in Figure 18. This analysis can be useful for understanding the affordable housing for home ownership excluding any financing cost in the area shown. Lake Shore depicts it has a % of Income Owner Costs-No Mortgage of 13% which is the second most cost as a percent of household income of all the places in the greater Lake Shore region. The city with the highest cost as a percent of household income in the area is Nisswa which depicts a cost as a percent of household income of 14% (only about 3.8% larger).

Figure 19 looks at the cost of rent for rental property using the percent of total household income which is a valuable measure of financial health for the area. (The higher the proportion of rent payments to total household income is a sign of greater financial stress. Also, rent can be covered by rent assistance and rent assistance programs in the form of rent assistance.) Lake Shore has the largest proportion of rent as a percent of income is less than 10 pct at 51% of the total and is ranked #1. Second, it has less than most other places in the local area in order of rent as a percent of income is between 10pct to 20pct at 9% of the total.

Figure 20 shows the total housing cost for both home owners and apartment community renters in the area. Lake Shore has the smallest proportion of housing cost between $300 and $500 at 6% of the total. Second, it has the largest proportion of housing cost between $500 and $700 at 24% of the total and is ranked #1. Third, it has the smallest proportion of housing cost between $700 and $1,000 at 16% of the total. Also, it has the largest proportion of housing cost between $1,500 and $2,000 at 10% of the total and is ranked #1. In addition, it has the largest proportion of housing cost between $2,000 and $2,500 at 6% of the total and is ranked #1. Furthermore, it has the largest proportion of housing cost between $2,500 and $3,000 at 10% of the total and is ranked #1.

Figure 21 shows median amount of real estate taxes paid for home owners in the region. it has a Median Real Estate Taxes Paid of $2,983 which is more than all other places in the greater Lake Shore region. Comparing median real estate taxes paid to the United States average of $2,471, Lake Shore is 20.7% larger. Also, compared to the state of Minnesota, median real estate taxes paid of $2,500, Lake Shore is 19.3% larger.

Figure 23 shows the rental rate distribution for this area. Lake Shore Minnesota has the largest proportion of rent between 500 and 750 dollars at 47% of the total and is ranked #1.

Lake Shore Minnesota Home Characteristics Charts

Figure 28 shows the household size for families living in the area and it has a Family size of 2.5 which is the second smallest in order of family members per housing unit of all the other places in the local area. The city with the highest family members per housing unit in the area is Pequot Lakes which depicts a family members per housing unit of 3.2 (27.5% larger). Comparing family members per housing unit to the United States average of 3.3, Lake Shore is approximately three-fourths the size. Also, compared to the state of Minnesota, family members per housing unit of 3.1, Lake Shore is about 23.7% smaller.

Figure 29 show the median number of rooms in a typical home for each location in this area. it has a Median Number of Rooms of 6.1 which is the second most average number of rooms in a house of all the places in the greater Lake Shore region. The city with the highest average number of rooms in a house in the area is East Gull Lake which depicts an average number of rooms in a house of 6.7 (9.8% larger). Figure 30 shows, for the average house in each location, the median year that a house was built. This can be useful for understanding the relative age of one neighborhood versus another for a real estate investor. it has a Median Year Built of 1990 which is the third most year built of all other places in the greater Lake Shore region. The city with the highest year built in the area is Baxter which depicts a year built of 2000 ( about the same size).

Figure 31 looks at the distribution of housing units by the median age that the homes were built. it has one of the largest proportions of homes built between 2010 to 2013 at 26% of the total and is ranked #3. Only #2 Breezy Point (36%), and #1 Baxter (37%) are larger. Second, it has one of the largest proportions of homes built between 2000 to 2009 at 19% of the total and is ranked #3. Only #2 Breezy Point (19%), and #1 Pequot Lakes (21%) are larger. Third, it has one of the largest proportions of homes built between 1990 to 1999 at 19% of the total and is ranked #2. The only larger city being East Gull Lake with 28%. Also, it has in the mid point range of other places in the local area when ranked by homes built between 1960 to 1969 at 4% of the total. In addition, it has less than most other places in the local area in order of homes built between 1950 to 1959 at 3% of the total.

Figure 32 shows the difference in the number of housing units based on whether they are occupied by owners versus occupied by renters. has the percentage of owner housing units in the mid range of other places in the surrounding region at 74 of the total.

Figure 33 shows the difference in the number of housing units based on whether they are occupied by owners or renters. it has the largest proportion of 3 or 4 units at 2% of the total and is ranked #1.

Figure 34 shows the median value of homes broken down by the median year that the homes were built. it has one of the largest proportions of value of homes built 2014 or later at $380,800 of the total and is ranked #3. Only #2 Nisswa ($486,700), and #1 Breezy Point ($607,100) are larger. Second, it has the largest proportion of value of homes built 2010 to 2013 at $383,300 of the total and is ranked #1. Third, it has the largest proportion of value of homes built 2000 to 2009 at $330,800 of the total and is ranked #1. Also, it has one of the largest proportions of value of homes built 1980 to 1989 at $278,600 of the total and is ranked #2. The only larger city being East Gull Lake with $353,100. In addition, it has the largest proportion of value of homes built 1970 to 1979 at $475,000 of the total and is ranked #1. Furthermore, it has the largest proportion of value of homes built 1960 to 1969 at $536,500 of the total and is ranked #1.

Figure 35 compares the total number of occupied housing units to vacant housing units. This analysis can be used to understand any housing shortage in the community. it has the largest proportion of occupied housing units at 59% of the total and is ranked #1.

The next two charts show both the average household size of homeowners versus the average household size of renters. Starting with Figure 36 we see the household size of homeowners for Lake Shore residents. it has a Owner-Household Size of 2.1 which is the second smallest as measured by homeowner household size of all the other places in the metro area. The city with the highest homeowner household size in the area is Baxter which depicts a homeowner household size of 2.8 (31.8% larger).

Figure 37 shows the household size for renters. Lake Shore shows it has a Renter-Household Size of 2.5 which is the highest of all places in the greater Lake Shore region. Figure 38 shows the year that people who own homes moved into this region. it has the largest proportion of owners moved in 2017 or later at 22% of the total and is ranked #1. Second, it has one of the largest proportions of owners moved in 2015 to 2016 at 22% of the total and is ranked #3. Only #2 Baxter (23%), and #1 Nisswa (28%) are larger. Third, it has the second smallest in order of owners moved in 2017 or later of all the other places in the greater region when sorted by owners moved in 2010 to 2014 at 31% of the total. Also, it has less than most other places in the area when ranked by owners moved in 1990 to 1999 at 7% of the total. Figure 39 shows the year that people who rent moved into the area. Lake Shore has one of the largest proportions of renters moved in 2017 or later at 53% of the total and is ranked #2. The only larger city being Breezy Point with 63%.

Figure 40 compares the median year that home owners moved into their home. it has a Owner Median Year Moved In of 2009 which is more than all other places in the greater Lake Shore region. Figure 41 compares the median year that renters moved into their home. Lake Shore depicts it has a Renter Median Year Moved In of 2016 which is more than all other places in the surrounding region.

Figure 42 shows the frequency distribution of various types of energy sources used for homes in the community. it has the largest proportion of homes using natural gas at 16% of the total and is ranked #1. Second, it has the second smallest in order of homes using natural gas of all the other places in the greater region in order of home using bottled, tank, or lp gas at 13% of the total. Third, it has the largest proportion of home using electricity at 4% of the total and is ranked #1. Also, it has one of the largest proportions of homes using coal or coke at 4% of the total and is ranked #2. The only larger city being Breezy Point with 5%.