Market Overview
Home Prices in Mountain Lake, MN
The median home value in Mountain Lake, MN is $165,143 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 0.3% compared to a year ago and down 1.3% from two years prior.
Compared to the U.S. national median of $410,000, homes in Mountain Lake are priced60% below average.
Over the past five years, Mountain Lake home values have risen by approximately26.6%, reflecting strong long-term appreciation in this market.
Price History
Mountain Lake Home Price Trend
2020
$114,441
$114K
—
2021
$130,417
$130K
+14.0%
2022
$151,113
$151K
+15.9%
2023
$167,365
$167K
+10.8%
2024
$167,837
$168K
+0.3%
2025
$165,665
$166K
-1.3%
2026
$165,143
$165K
-0.3%
City Comparison
Mountain Lake vs. National Median
🏠 Mountain Lake
$165,143
National Median
$410,000
At $165,143, homes in Mountain Lake cost 60% below the national median of $410,000. This makes Mountain Lake a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Mountain Lake?
20% Down Payment
$33,029
on $165,143
Monthly P&I
$861/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,093/mo
incl. taxes & insurance
Income Needed
$43,720
gross annual (30% rule)
10% Down Option
$16,514
+ PMI applies
Loan Amount (20% dn)
$132,114
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 Mountain Lake, MN?
The median home value in Mountain Lake is $165,143 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 0.3% year-over-year.
How much have home prices changed in Mountain Lake?
Over the past year, home values in Mountain Lake have decreased by 0.3%. Over five years, prices have risen approximately 26.6%.
How much do I need to earn to buy a home in Mountain Lake?
To comfortably afford the median home price of $165,143 with a 20% down payment ($33,029) at today's rates (6.8%), you'd need a gross annual income of approximately $43,720. This assumes keeping total housing costs at or below 30% of gross income.
How does Mountain Lake compare to the national average home price?
The national median home value is approximately $410,000. At $165,143, homes in Mountain Lake are 60% below the national average.