Lake Park, MN housing market
Home prices around Lake Park have risen about 50% over the past 5 years. No new homes were permitted in 2025.
Home values, sales, trends and how Lake Park compares with the towns next door — updated as new data is published.
Home prices up 50% in 5 years
The federal house price index for the ZIP code around Lake Park rose 50% over the past 5 years, faster than across Minnesota (37%). Last year prices fell 18%.
Show as a table
| Year | Change that year | Since 2001 | Minnesota since 2001 |
|---|---|---|---|
| 2025 | −18% | +197% | +107% |
| 2024 | +41% | +263% | +102% |
| 2023 | +5% | +158% | +95% |
| 2022 | +14% | +146% | +87% |
| 2021 | +8.9% | +116% | +66% |
| 2020 | +3.8% | +98% | +52% |
| 2019 | −3.3% | +91% | +48% |
| 2018 | +5.8% | +98% | +42% |
| 2017 | +3.7% | +87% | +34% |
| 2016 | +5.8% | +80% | +27% |
| 2015 | +5.8% | +70% | +21% |
| 2014 | +1.3% | +61% | +17% |
| 2013 | +5.2% | +59% | +11% |
| 2012 | −3.3% | +51% | +6.4% |
| 2011 | −0.6% | +56% | +8% |
| 2010 | −3.3% | +57% | +14% |
| 2009 | −2% | +62% | +22% |
| 2008 | +1.8% | +66% | +30% |
| 2007 | +5% | +63% | +36% |
| 2006 | +7.1% | +55% | +37% |
| 2005 | +15% | +45% | +33% |
| 2004 | +12% | +26% | +23% |
| 2003 | +5.9% | +12% | +13% |
| 2002 | +5.8% | +5.8% | +7.9% |
| 2001 | — | — | — |
Federal Housing Finance Agency House Price Index (annual, developmental) for ZIP code 56554, weighted by land area. It tracks repeat sales and appraisals of the same homes, so it shows how prices changed, not what homes cost.
No new homes permitted in 2025
No permits for new homes were issued in Lake Park in 2025. The last year with any was 2022 (1 new home).
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Lake Park's population fell by 55 even though 13 new homes were permitted. Homes are holding fewer people: households are getting smaller, or more homes are used part of the year. Across Minnesota: 2.2 new residents per new home.
Residents: U.S. Census Bureau, 2010 and 2020 censuses. New homes: permits issued 2010–2019.
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 0 | 0 | 0 | — |
| 2025 | 0 | 0 | 0 | — |
| 2024 | 0 | 0 | 0 | — |
| 2023 | 0 | 0 | 0 | — |
| 2022 | 1 | 1 | 0 | $250,000 |
| 2021 | 1 | 1 | 0 | $250,000 |
| 2020 | 1 | 1 | 0 | $250,000 |
| 2019 | 1 | 1 | 0 | $250,000 |
| 2018 | 1 | 1 | 0 | $250,000 |
| 2017 | 1 | 1 | 0 | $250,000 |
| 2016 | 4 | 4 | 0 | $670,000 |
| 2015 | 4 | 4 | 0 | $670,000 |
| 2014 | 0 | 0 | 0 | — |
| 2013 | 1 | 1 | 0 | $165,000 |
| 2012 | 1 | 1 | 0 | $165,000 |
| 2011 | 0 | 0 | 0 | — |
| 2010 | 0 | 0 | 0 | — |
| 2009 | 1 | 1 | 0 | $200,000 |
| 2008 | 0 | 0 | 0 | — |
| 2007 | 1 | 1 | 0 | $150,000 |
| 2006 | 1 | 1 | 0 | $110,000 |
| 2005 | 5 | 5 | 0 | $637,000 |
| 2004 | 5 | 5 | 0 | $535,000 |
| 2003 | 6 | 6 | 0 | $742,000 |
| 2002 | 4 | 4 | 0 | $360,000 |
| 2001 | 5 | 5 | 0 | $361,000 |
| 2000 | 5 | 5 | 0 | $390,000 |
Lake Park's permit office didn't report to the Census in 2025, so the 2025 figures are Census estimates.
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
Lake Park and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Lake Park | — | −18.2%† | $970 | 0 | $64,028 |
| Lake Park | $421K | +4.5% | $970 | — | $109,583 |
† FHFA price index change, where Zillow has no home value for the town.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024 · figures for a place this size carry wide margins of error.
A two-bedroom rents for about $970
HUD's Fair Market Rent for a two-bedroom in Lake Park is $970 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Lake Park pay a median of $692, so moving in tends to cost more than staying put.
Studio $670 · 4 bedrooms $1,400
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (56554; Fargo, ND-MN MSA), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Recent listings in Lake Park
Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.