A typical The Lakes home is worth roughly $397,000
What kind of housing town is The Lakes?
Read from the numbers below. The page puts what stands out first.
93% of The Lakes households own their home
Half of The Lakes’s homes were built before 1983.
Minnesota: 72% own.
U.S. Census Bureau, American Community Survey 2020-2024 · figures for a place this size carry wide margins of error.
A typical home costs 4.5 years of income
More than across Minnesota (3.9 years). Try your own numbers below.
That’s $45K short of a typical The Lakes home.
A two-bedroom rents for about $1,070 a month here, $1,240 less than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, The Lakes’s typical property tax (0.70% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
A two-bedroom rents for about $1,070
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Lyon County, MN): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
The Lakes vs. its neighbors
The towns that share a border with The Lakes. Tap one to see its housing page.
Compare more
| Town | Typical value | 1-yr change | 2-bed rent | Median income |
|---|---|---|---|---|
| The Lakes | $397K* | — | $1,070 | $87,969 |
| Shetek | — | −4.9%† | $1,000 | $96,250 |
Typical value: Zillow Home Value Index; * Census median home value where Zillow has none. † FHFA price index change where Zillow has none. Rent: HUD Fair Market Rent. New homes: Census building permits.
Neighbors talk housing
What The Lakes buyers, sellers and renters are saying.
Your answer becomes a post in Town Square.
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. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers. The calculator is an estimate, not a loan offer.