Lake County, Minnesota home prices
Typical home $275,583 · +3.7% in a year · property tax 0.73%
The typical home in Lake County is worth $275,583, 21% less than the Minnesota typical home ($348,778). Values changed +3.7% in the past year and +27.0% over five years. Homeowners here pay a median 0.73% of their home's value in property tax each year ($2,016 on the typical home), versus 1.04% statewide.
Mortgage on the typical Lake County home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $55,117 | $220,466 | $1,483 | $0 | $306 | $1,789 | $76,700 |
| 10% down | $27,558 | $248,025 | $1,668 | $103 | $306 | $2,078 | $89,000 |
| 5% down | $13,779 | $261,804 | $1,761 | $109 | $306 | $2,176 | $93,300 |
| 3.5% down (FHA) | $9,645 | $270,591 | $1,820 | $122 | $306 | $2,248 | $96,300 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.73% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
What it takes: see what you can afford by salary in Minnesota · part of the Duluth metro area.
Minnesota counties with similar prices
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Aitkin County | $275,987 | +4.0% | 0.55% |
| Fillmore County | $280,947 | +2.3% | 0.94% |
| Kanabec County | $270,028 | +5.7% | 1.13% |
| Winona County | $282,899 | +3.9% | 0.93% |
| Kandiyohi County | $285,215 | +1.9% | 1.02% |
| Todd County | $265,621 | +6.8% | 0.95% |
| Rock County | $263,653 | +3.4% | 0.71% |
| Beltrami County | $263,076 | +2.7% | 0.97% |
| Pine County | $261,692 | +5.1% | 0.86% |
| Waseca County | $259,153 | +2.5% | 1.18% |
Frequently asked questions
What is the average home price in Lake County, MN?
The typical home value in Lake County is $275,583 (Zillow Home Value Index, September 2026).
How much do you need to earn to buy a house in Lake County?
About $76,700 a year for the typical home with 20% down at a 7.11% 30-year rate.
What is the property tax rate in Lake County?
The median effective rate is 0.73% of home value a year (Census ACS 2024 5-year estimates).