Lax Lake, MN—55614
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Lax Lake, MN
As of Oct '25, the median home price in Lax Lake, MN is $183,000, with a year-over-year change of -2.4%. This indicates that home prices in Lax Lake, MN are decreasing. According to Zillow, the 1-year price projection is 2.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $183,000 | -2.4% |
| Single Family | $183,000 | -3.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $168,000 | -1.2% |
3 Bed | $187,000 | -3.1% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Lax Lake, MN
Lax Lake, MN lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Lax Lake, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Lax Lake, MN is 107. This is a increase of 51.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 13.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $250,000 | 10.0% |
Listing Count | 31 | 35.0% |
| Listings as % of Homes | 1.2% | 35.0% |
Days on Market | 107 | 51.0% |
Demographics — Lax Lake, MN
As of the latest ACS Survey released in 2023, Lax Lake, MN has a population of 2,450, which has increased by 5.3% over the past 5 years. Lax Lake, MN is a moderately popular place for families, as children make up 16.7% of the population. The area has a poorly educated workforce, with 22.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 2,450 | 5.3% |
% Under 18 | 16.7% | 4.4% |
% Seniors | 31.7% | 24.8% |
% WFH | 9.1% | 116.7% |
% w/ College Degree | 22.9% | -19.1% |
As of the latest ACS Survey released in 2023, Lax Lake, MN is a predominantly white area, with 91.4% of the population identifying as white. The white population has grown by 0.7% in the last 5 years. The second most common race or ethnicity in Lax Lake, MN is hispanic, making up 2.4% of the population. Foreign-born residents account for 1.2% of the population in Lax Lake, MN, and this percentage has decreased by 68.4% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 91.4% | 0.7% |
% Black | 0.0% | -100.0% |
% Hispanic | 2.4% | -11.1% |
% Asian | 0.9% | ∞% |
% Foreign Born | 1.2% | -68.4% |
Mortgage and Risk — Lax Lake, MN
According to HUD data as of 2023, there were 81 mortgage originations in Lax Lake, MN, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 22.0% above 90% LTV (very high). This implies large mortgage risk in Lax Lake, MN. Investor activity is low, as 0.0% of loans were by investors. 31.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 81 |
% Conventional Loans | 90.0% |
% Government Loans | 10.0% |
% Investor Loans | 0.0% |
% Second Loans | 10.0% |
% Cash Out Refinance | 31.0% |
Loan Activity
Rentals and Section 8 — Lax Lake, MN
Lax Lake, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 1 |
Total Units Section 8 | 1 |
% Rentals under Section 8 | 0.5% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,000 |
| 2 Bedroom | N/A | N/A | $1,310 |
| 3 Bedroom | N/A | N/A | $1,580 |
| 4 Bedroom | N/A | N/A | $2,200 |
Affordability — Lax Lake, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.3 |
| Median Home Price | $183,000 |
| Median Household Income | $74,300 |