How much do homeowners pay a month in Lake Park, MN?
Homeowners with a mortgage in Lake Park, MN pay a median of $1,539 (±$125) a month in selected owner costs (2020–2024 American Community Survey).
Owners without a mortgage pay $595 (±$70).
71.7% of owned homes carry a mortgage.
In Lake Park, the median monthly cost with a mortgage went from $1,045 in 2015–2019 to $1,539 in 2020–2024 (+47.3%).
Prices (CPI-U) rose 22.7% over the same years, so it rose faster than prices: a measurable increase after inflation.
Figures last updated on .
- With a mortgage
- $1,539 (±$125)
- Without a mortgage
- $595 (±$70)
- Owned with a mortgage
- 71.7%
Monthly owner costs in Lake Park
| Lake Park | Becker County | Minnesota | United States | |
|---|---|---|---|---|
| With a mortgage | $1,539 (±$125) | $1,691 (±$46) | $1,947 (±$7) | $1,963 |
| Without a mortgage | $595 (±$70) | $580 (±$22) | $698 (±$3) | $638 |
| Owned homes with a mortgage | 71.7% (±11.1 points) | 56.1% (±1.9 points) | 64.0% (±0.2 points) | 60.6% |
| Median real estate taxes (a year) | $1,509 (±$189) | $2,014 (±$96) | $3,357 (±$10) | $3,119 |
Selected monthly owner costs are the mortgage payment, property taxes, insurance, utilities, fuels and any condominium or mobile-home fees.
In Lake Park, the median cost with a mortgage is lower than in Becker County ($1,691).
It is also lower than in Minnesota ($1,947).
It is lower than the national figure ($1,963).
In Becker County, Lake Park ranks 31 of 44 places with a published estimate, from highest to lowest median monthly cost with a mortgage.
Statewide, it ranks 1596 of 2,496.
Rankings use the estimates alone; where margins of error overlap, neighboring ranks may not truly differ.
How owner costs in Lake Park have changed since 2015–2019
| 2015–2019 | 2020–2024 | Amount of change | Verdict | |
|---|---|---|---|---|
| Median owner cost with a mortgage | $1,045 (±$82) | $1,539 (±$125) | +47.3% | Up after inflation |
| Median real estate taxes | $821 (±$135) | $1,509 (±$189) | +83.8% | Up after inflation |
| Median home value | $91,700 (±$16,507) | $196,500 (±$20,473) | +114.3% | Up after inflation |
The Census Bureau publishes 2015–2019 dollars in 2019 dollars and 2020–2024 dollars in 2024 dollars.
Prices (the CPI-U, US Bureau of Labor Statistics) rose 22.7% between 2019 and 2024, so a dollar figure’s verdict compares the two after raising the earlier one by that much, using the Census Bureau’s test for a difference.
The two periods do not overlap, as the Census Bureau recommends for 5-year estimates.
Median monthly cost with a mortgage in places near Lake Park
| Place | Distance | Median monthly cost with a mortgage | Compared with this place |
|---|---|---|---|
| Lake Park | — | $1,539 (±$125) | — |
| Lake Park Township | 3.2 mi | $2,106 (±$150) | Higher |
| Cuba Township | 3.5 mi | $2,107 (±$154) | Higher |
| Audubon | 5.5 mi | $1,487 (±$186) | Not measurably different |
| Audubon Township | 6.0 mi | $2,073 (±$380) | Higher |
| Hamden Township | 6.3 mi | $1,625 (±$121) | Not measurably different |
| Highland Grove Township | 6.8 mi | $2,250 (±$325) | Higher |
| Cormorant Township | 7.1 mi | $2,139 (±$156) | Higher |
| Eglon Township | 7.4 mi | $2,637 (±$284) | Higher |
Nearby places with a measurably higher figure: Lake Park Township, MN ($2,106), Cuba Township, MN ($2,107), Audubon Township, MN ($2,073).
Distance is measured in a straight line between the Census Bureau’s internal points for each place.
Median monthly cost with a mortgage across Becker County, place by place
| Rank | Place | Median monthly cost with a mortgage |
|---|---|---|
| 24 (tie) | Riceville Township | $1,625 (±$607) |
| 26 | Burlington Township | $1,618 (±$193) |
| 27 | Spruce Grove Township (Becker County) | $1,594 (±$204) |
| 28 | Sugar Bush Township (Becker County) | $1,578 (±$224) |
| 29 (tie) | Green Valley Township | $1,563 (±$98) |
| 29 (tie) | Maple Grove Township (Becker County) | $1,563 (±$227) |
| 31 | Lake Park | $1,539 (±$125) |
| 32 | Wolf Lake | $1,500 (±$342) |
| 33 | Audubon | $1,487 (±$186) |
| 34 (tie) | Height of Land Township | $1,486 (±$296) |
| 34 (tie) | Runeberg Township | $1,486 (±$276) |
| 36 | Savannah Township | $1,473 (±$186) |
| 37 | Osage Township | $1,446 (±$129) |
Showing 13 of 44 places in Becker County, ranked from highest to lowest.
Survey years: 2020–2024 (American Community Survey 5-year estimates), compared with 2015–2019.
Margins of error are at the 90% confidence level.
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Questions about Lake Park
What is the average mortgage payment in Lake Park?
The Census Bureau publishes total owner costs rather than the mortgage alone: the median for owners with a mortgage in Lake Park, MN is $1,539 (±$125) a month, including taxes, insurance and utilities.
How much does it cost to own a paid-off home in Lake Park?
Owners without a mortgage in Lake Park pay a median of $595 (±$70) a month in taxes, insurance, utilities and fees.
Has the cost of owning a home in Lake Park gone up?
In Lake Park, the median monthly cost with a mortgage went from $1,045 in 2015–2019 to $1,539 in 2020–2024 (+47.3%).
Prices (CPI-U) rose 22.7% over the same years, so it rose faster than prices: a measurable increase after inflation.
Sources
- Selected Housing Characteristics (DP04), 2020–2024 ACS 5-year estimates — Lake Park city, Minnesota
- Median Real Estate Taxes Paid by Mortgage Status (B25103), 2020–2024 ACS 5-year estimates — Lake Park city, Minnesota
- Median Selected Monthly Owner Costs (B25088), 2015–2019 ACS 5-year estimates — Lake Park city, Minnesota
- Median Real Estate Taxes Paid by Mortgage Status (B25103), 2015–2019 ACS 5-year estimates — Lake Park city, Minnesota
- Median Value (B25077), 2015–2019 ACS 5-year estimates — Lake Park city, Minnesota
- Consumer Price Index for All Urban Consumers (CPI-U), US city average, all items, US Bureau of Labor Statistics: annual averages 2019 and 2024
To check these figures in the Census Bureau’s own API, request the variables below from the 2024 ACS 5-year data profile (acs/acs5/profile) and detailed tables (acs/acs5) for Lake Park city, Minnesota (place:34784, in state:27).
Each estimate (E or PE) has a margin of error beside it (M or PM).
The 2015–2019 figures are B25088_002E, B25088_002M, B25103_001E, B25103_001M, B25077_001E, B25077_001M from the 2019 release.
The API needs a free key.
DP04_0101E, DP04_0101M, DP04_0109E, DP04_0109M, DP04_0091PE, DP04_0091PM, B25103_001E, B25103_001M
This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
Figures are published by the US Census Bureau, HUD, the Bureau of Labor Statistics and the FBI; Seayora reproduces them and does not adjust them, except where a sentence says it compares dollar figures after inflation. They describe the whole place, not any one building or street, and are not an appraisal, a rent determination, a tax bill, a safety rating or legal advice.
Figures last updated on .
Related
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- Home values in Lake Park
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- Age of homes in Lake Park
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- How long people stay in Lake Park
- Minnesota landlord and tenant rules
- Housing across Becker County
- Housing data for every place in Minnesota