Prior Lake, MN housing market
The typical Prior Lake home is worth about $530,000, up 1.8% in a year, 51% above the Minnesota typical home. Homes typically sell in 30 days, close to asking.
Home values, sales, trends and how Prior Lake compares with the towns next door — updated as new data is published.
Prior Lake at a glance
A strong seller's market
Homes are selling faster than new ones are listed: less than two months of supply. Well-priced homes can draw several offers.
Typical home value, 2016–2026
Show as a table
| January | Prior Lake | Minnesota |
|---|---|---|
| 2017 | $341,000 | $217,000 |
| 2018 | $357,000 | $232,000 |
| 2019 | $376,000 | $246,000 |
| 2020 | $388,000 | $259,000 |
| 2021 | $426,000 | $282,000 |
| 2022 | $481,000 | $313,000 |
| 2023 | $499,000 | $325,000 |
| 2024 | $499,000 | $331,000 |
| 2025 | $517,000 | $341,000 |
| 2026 | $527,000 | $349,000 |
| August 2026 | $530,000 | $351,000 |
Prior Lake and its neighbors
| Town | Typical value | 1-yr change | Days on market | Median income |
|---|---|---|---|---|
| Prior Lake | $530K | +1.8% | 30 | $134,255 |
| Shakopee | $405K | +1.1% | 27 | $107,223 |
| Savage | $428K | +1.4% | 21 | $125,513 |
| Credit River | — | — | 14 | $143,125 |
3.9 years of income
The typical Prior Lake home costs about 3.9 years of the town's median household income, about the same as across Minnesota (3.9).
How Prior Lake ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Listings link to their publishers.