Minnesota Lake Minnesota Area Home Supply Charts

This page looks at a variety of Minnesota Lake Minnesota housing market data taken from the most recent 2022 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. Minnesota Lake shows it has a Housing Units of 307 which is the third most of all other places in the greater region.

Figure 2 illustrates the housing density in the Minnesota Lake housing market as measured by housing units per square land mile (includes single family homes, apartments, etc.) Minnesota Lake shows it has a Housing Density of 184.8 which is less than most other places in the area. The city with the highest housing density in the area is Pemberton which shows a density of 597.4 (approximately 3.2 times bigger). Comparing housing density to the United States average of 39.5, Minnesota Lake is approximately 4.7 times bigger. Also, benchmarked against the state of Minnesota, housing density of 31.1, Minnesota Lake is very much bigger.

In Figure 4, Minnesota Lake area change in the number of housing units and is a forward gauge (along with population change) for any potential housing shortage. Minnesota Lake depicts it has a Housing Unit Change of -7.3% which is the second smallest when sorted by change in the housing units of all the other places in the area. The city with the highest change in the housing units in the area is Pemberton which shows a housing units of 10.2% (40.7% larger). Comparing change in the housing units to the United States average of 7.4%, Minnesota Lake is about the same size. Also, measured against the state of Minnesota, change in the housing units of 5.3%, Minnesota Lake is 38.0% larger.

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.) Minnesota Lake depicts it has a Renter Percent of 16.5% which is less than most other places in the metropolitan area. Figure 6 illustrates the total number of housing units that are occupied by owners. it has a Owner Percent of 83.5% which is the third most owner percent of all other places in the greater Minnesota Lake region.

Minnesota Lake Minnesota Home Cost Charts

Looking at the housing data provided in Figure 7, the average Minnesota Lake home price is illustrated for this community and a useful analysis of affordable housing. Minnesota Lake depicts it has a Median Home Value of $110,900 which is the third most median home prices of all other places in the greater Minnesota Lake region. The city with the highest median home price in the area is Mapleton which shows a home price of $150,200 (35.4% larger). Figure 8 provides aggregate comparative data for the Minnesota Lake Minnesota metro area in terms of the median housing rental rate, apartment rent, etc. Minnesota Lake depicts it has a Median Gross Rent of $689 which is the third most rental rates of all other places in the greater Minnesota Lake region. The city with the highest rental rates in the area is Pemberton which indicates a rental rates of $1,375 (about twice as large). Comparing rental rates to the United States average of $1,163, Minnesota Lake is approximately three-fourths the size. Also, in contrast to the state of Minnesota, rental rates of $1,081, Minnesota Lake 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. Minnesota Lake has the percentage of home price worth less than $50,000 less than most other places in the local area at 31% of the total. Second, it has one of the largest proportions of home price worth between $50,000 to $100,000 at 51% of the total and is ranked #3. Only #2 Mapleton (57%), and #1 Pemberton (70%) are larger. Third, it has the largest proportion of home price worth between $300,000 to $400,000 at 1% of the total and is ranked #1. Also, it has the largest proportion of home price worth between $400,000 to $500,000 at 1% of the total and is ranked #1.

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. Minnesota Lake depicts it has a Median Owner Cost of $811 which is the third most median ownership cost of all other places in the greater Minnesota Lake region. Figure 11 shows the median amount of cost as a percent of total household income for people who own homes in the Minnesota Lake metro area. it has a Owner Cost as % of HH Income of 17% which is the third most cost as a percent of household income of all other places in the greater Minnesota Lake 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. Minnesota Lake shows it has a Median Home Value as Percent of Median Earnings of 212% which is in the center range of other places in the metro area.

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.) Minnesota Lake depicts it has a Median Owner Costs-With Mortgage of $1,035 which is in the mid range of other places in the surrounding 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 $444 which is in the middle range of other places in the greater 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. Minnesota Lake has the percentage of owner cost less than $300 less than most other places in the metropolitan area at 13% of the total. Second, it has one of the largest proportions of owner cost between $500 and $700 at 29% of the total and is ranked #3. Only #2 Delavan (32%), and #1 Easton (35%) are larger. Third, it has the largest proportion of owner cost between $2,000 and $2,500 at 2% 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.) Minnesota Lake depicts it has a % of Income Owner Costs-With Mortgage of 18% which is in the mid range of other places in the area. The city with the highest cost as a percent of household income in the area is Pemberton which shows a cost as a percent of household income of 22% (25.1% 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. Minnesota Lake shows it has a % of Income Owner Costs-No Mortgage of 16% which is the second most of all the places in the metropolitan area. The city with the highest cost as a percent of household income in the area is Waldorf which shows a cost as a percent of household income of 20% (25.0% 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.) Minnesota Lake has the largest proportion of rent as a percent of income is less than 10 pct at 55% of the total and is ranked #1. Second, it has in the center range of other places in the metro area when ranked by rent as a percent of income is between 10pct to 20pct at 7% of the total. Third, it has one of the largest proportions of rent as a percent of income is between 40pct to 50pct at 16% of the total and is ranked #3. Only #2 Wells (27%), and #1 Waldorf (33%) are larger.

Figure 20 shows the total housing cost for both home owners and apartment community renters in the area. Minnesota Lake has the smallest proportion of housing cost less than $300 at 11% of the total. Second, it has the largest proportion of housing cost between $2,000 and $2,500 at 1% 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 $1,263 which is in the mid point range of other places in the greater region. The city with the highest median real estate taxes paid in the area is Pemberton which shows a taxes paid of $2,000 (58.4% larger). Comparing median real estate taxes paid to the United States average of $2,690, Minnesota Lake is approximately half the size. Also, measured against the state of Minnesota, median real estate taxes paid of $2,767, Minnesota Lake is approximately half the size.

Figure 23 shows the rental rate distribution for this area. Minnesota Lake Minnesota has the percentage of rent less than 300 dollars in the mid range of other places in the area at 9% of the total. Second, it has the largest proportion of rent between 300 and 500 dollars at 45% of the total and is ranked #1. Third, it has one of the largest proportions of rent between 500 and 750 dollars at 41% of the total and is ranked #2. The only larger city being Waldorf with 47%. Also, it has the second smallest in order of rent less than 300 dollars of all the other places in the area in terms of rent between 750 and 1000 dollars at 5% of the total.

Minnesota Lake Minnesota Home Financing Charts

The analysis in Figure 25 shows the detailed distribution of owned homes by mortgage status. Minnesota Lake has the largest proportion of With mortgage at 60% of the total and is ranked #1. Second, it has the second smallest when ranked by With Mortgage of all the other places in the greater region in terms of With HELOC no Primary Mortgage at 31% of the total.

Figure 26 shows the proportion of houses with a mortgage versus those without a mortgage. Minnesota Lake has the percentage of houses with mortgages the second smallest in order of houses with a mortgage of all the other places in the metro area at 31% of the total.

Minnesota Lake Minnesota Home Characteristics Charts

Figure 28 shows the household size for families living in the area and it has a Family size of 2.9 which is less than most other places in the greater region. The city with the highest family members per housing unit in the area is Easton which depicts a family members per housing unit of 3.3 (15.6% larger). Comparing family members per housing unit to the United States average of 3.3, Minnesota Lake is about 15.0% smaller. Also, measured against the state of Minnesota, family members per housing unit of 3.2, Minnesota Lake is about 10.5% 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 6.4 which is in the mid point range of other places in the local area. The city with the highest average number of rooms in a house in the area is Easton which depicts an average number of rooms in a house of 7.1 (10.9% 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 1965 which is the second most year built of all the places in the greater Minnesota Lake region. The city with the highest year built in the area is Pemberton which depicts a year built of 1968 ( 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 in 2020 or later at 3% of the total and is ranked #2. The only larger city being Mapleton with 3%. Second, it has the largest proportion of homes built between 1980 to 1989 at 28% of the total and is ranked #1. Third, it has the second smallest in order of homes built in 2020 or later of all the other places in the metro area when sorted by homes built between 1940 to 1949 at 24% 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. it has one of the largest proportions of owner housing units at 44 of the total and is ranked #3. Only #2 Mapleton (173), and #1 Wells (221) are larger.

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 2 units at 9% 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 2000 to 2009 at $143,800 of the total and is ranked #3. Only #2 Mapleton ($172,500), and #1 Wells ($236,100) are larger. Second, it has in the mid range of other places in the metro area when sorted by value of homes built 1980 to 1989 at $128,600 of the total. Third, it has one of the largest proportions of value of homes built 1970 to 1979 at $86,700 of the total and is ranked #3. Only #2 Pemberton ($131,300), and #1 Mapleton ($146,900) are larger. Also, it has one of the largest proportions of value of homes built 1960 to 1969 at $123,200 of the total and is ranked #3. Only #2 Mapleton ($136,200), and #1 Pemberton ($162,500) are larger. In addition, it has one of the largest proportions of value of homes built 1950 to 1959 at $88,300 of the total and is ranked #3. Only #2 Mapleton ($112,500), and #1 Pemberton ($115,600) are larger. Furthermore, it has in the mid point range of other places in the greater region in terms of value of homes built 1940 to 1949 at $72,000 of the total.

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 Minnesota Lake residents. it has a Owner-Household Size of 2.2 which is the second smallest as measured by homeowner household size of all the other places in the local area. The city with the highest homeowner household size in the area is Mapleton which shows a homeowner household size of 2.7 (23.0% larger).

Figure 37 shows the household size for renters. Minnesota Lake indicates it has a Renter-Household Size of 2.4 which is the second most renter household sizes of all the places in the greater Minnesota Lake region. The city with the highest renter household size in the area is Pemberton which depicts a renter household sizes of 3.3 (35.7% larger). Figure 38 shows the year that people who own homes moved into this region. has the smallest proportion of owners moved in 2019 or later at 11% of the total. Second, it has the smallest proportion of owners moved in 2015 to 2018 at 10% of the total. Third, it has one of the largest proportions of owners moved in 2010 to 2014 at 33% of the total and is ranked #3. Only #2 Easton (39%), and #1 Waldorf (40%) are larger. Also, it has the largest proportion of owners moved in 2000 to 2009 at 20% of the total and is ranked #1. Figure 39 shows the year that people who rent moved into the area. Minnesota Lake has the percentage of renters moved in 2019 or later less than most other places in the local area at 46% of the total. Second, it has one of the largest proportions of renters moved in 2015 to 2018 at 36% of the total and is ranked #2. The only larger city being Easton with 44%. Third, it has less than most other places in the surrounding region in terms of renters moved in 2010 to 2014 at 2% of the total.

Figure 40 compares the median year that home owners moved into their home. it has a Owner Median Year Moved In of 2003 which is less than most other places in the surrounding region. Figure 41 compares the median year that renters moved into their home. Minnesota Lake depicts it has a Renter Median Year Moved In of 2016 which is the second most median year that a renter moved in of all the places in the greater Minnesota Lake region.

Figure 42 shows the frequency distribution of various types of energy sources used for homes in the community. has the percentage of homes using natural gas less than most other places in the metropolitan area at 12% of the total. Second, it has the largest proportion of home using bottled, tank, or lp gas at 16% of the total and is ranked #1.