Market Overview
Home Prices in Lake Park, MN
The median home value in Lake Park, MN is $426,392 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 4.2% compared to a year ago and up 2.1% from two years prior.
Compared to the U.S. national median of $410,000, homes in Lake Park are priced4% above average.
Over the past five years, Lake Park home values have risen by approximately37.5%, reflecting strong long-term appreciation in this market.
Price History
Lake Park Home Price Trend
2020
$269,231
$269K
—
2021
$310,089
$310K
+15.2%
2022
$366,907
$367K
+18.3%
2023
$387,589
$388K
+5.6%
2024
$400,837
$401K
+3.4%
2025
$409,305
$409K
+2.1%
2026
$426,392
$426K
+4.2%
City Comparison
Lake Park vs. National Median
🏠 Lake Park
$426,392
National Median
$410,000
At $426,392, homes in Lake Park cost 4% above the national median of $410,000. Buyers in Lake Park should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Lake Park?
20% Down Payment
$85,278
on $426,392
Monthly P&I
$2,224/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,824/mo
incl. taxes & insurance
Income Needed
$112,960
gross annual (30% rule)
10% Down Option
$42,639
+ PMI applies
Loan Amount (20% dn)
$341,114
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Lake Park, MN?
The median home value in Lake Park is $426,392 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 4.2% year-over-year.
How much have home prices changed in Lake Park?
Over the past year, home values in Lake Park have increased by 4.2%. Over five years, prices have risen approximately 37.5%.
How much do I need to earn to buy a home in Lake Park?
To comfortably afford the median home price of $426,392 with a 20% down payment ($85,278) at today's rates (6.8%), you'd need a gross annual income of approximately $112,960. This assumes keeping total housing costs at or below 30% of gross income.
How does Lake Park compare to the national average home price?
The national median home value is approximately $410,000. At $426,392, homes in Lake Park are 4% above the national average.