The Lakes, MN
Full City Profile · Minnesota · Murray County County
4.1
/5.0
A
Great
666
Population
20/sq mi density
$88,929
Median Income
$56,246 per capita
$391,900
Home Value
$132,903 Zillow
45°F
Avg Temperature
A
Overall
4.1 / 5.0
Strong
A+
Economy
4.8 / 5.0
$88,929 median income, 1.8% unemployment
A
Affordability
4.2 / 5.0
$391,900 home value, /mo rent
B
Education
3.4 / 5.0
30.4% bachelor's degree or higher
Housing Overview
Median Home Value
$391,900
39% above
US avg: $281,900
Homeownership Rate
94.4%
44% above US avg (65.4%)
Total Housing Units
813
Median year built: 1986
Home Value by Source
Census Median
$391,900
Zillow (ZHVI)
$132,903
Census ACS, Zillow ZHVI, Redfin median sale price
Ownership vs. Renting
94.4%
Owner-Occupied
5.6%
Renter-Occupied
US avg: 65.4% owner-occupied
Fair Market Rents (HUD FY2026)
Studio
$809/mo
1 Bedroom
$899/mo
2 Bedroom
$1,125/mo
3 Bedroom
$1,483/mo
4 Bedroom
$1,698/mo
Affordability & Housing Stock
Rent Burden
20.8%
of renters spending 30%+ of income on housing
33% below US avg (31.0%)
Median Year Built
1986
Average age of housing stock: 40 years
Homeownership Rate
94.4%
Complete Housing Data
Home Values
| Census Median Value | $391,900 |
| Zillow Home Value (ZHVI) | $132,903 |
Rent
| FMR Studio | $809 |
| FMR 1-Bedroom | $899 |
| FMR 2-Bedroom | $1,125 |
| FMR 3-Bedroom | $1,483 |
| FMR 4-Bedroom | $1,698 |
Market
Ownership & Stock
| Owner-Occupied | 94.4% |
| Renter-Occupied | 5.6% |
| Homeownership Rate | 94.4% |
| Total Housing Units | 813 |
| Median Year Built | 1986 |
| Rent Burden | 20.8% |