Market Snapshot
Report generated March 2026
| Indicator | Value |
|---|---|
| Population | 398,696 ↑ 3.8% since 2020 |
| Median Household Income | $69,956 6% below national median |
| Median Home Value | $287,900 |
| Unemployment Rate | 5.1% |
| Median Age | 46.7 years |
| Housing Vacancy Rate | 12.7% |
| Total Land Sales (Past 12 Months) | 63 transactions |
| Active Listings | 52 properties |
| Avg Days on Market | 530 days |
Rural Land Sales (1+ Acres) (Mar 2025 – Feb 2026)
| Metric | Value |
|---|---|
| Median Price/Acre | $12,188 |
| Recent Sales | 60 transactions |
| Avg Days on Market | 199 days |
| Avg Parcel Size | 26.50 acres |
| Active Listings | 35 properties |
Recent Rural Land Sales
| Date | Acres | Price | $/Acre | Address | City |
|---|---|---|---|---|---|
| Feb 2026 | 11.78 | $70,000 | $5,942 | County Highway 8 | Finland |
| Jan 2026 | 13.53 | $147,000 | $10,865 | Crown Creek Spur | Finland |
| Jan 2026 | 120.00 | $110,000 | $917 | Xxx Stony River Forest Rd | Isabella |
| Jan 2026 | 1.16 | $370,000 | $318,966 | 14551 Snowbank Bch | Ely |
| Jan 2026 | 2.87 | $225,000 | $78,397 | Tettegouche Highlands | Silver Bay |
| Dec 2025 | 320.00 | $207,500 | $648 | 2600 Whyte Rd | Two Harbors |
| Dec 2025 | 40.00 | $85,000 | $2,125 | 5903 Jordan Rd | Two Harbors |
| Dec 2025 | 40.00 | $115,000 | $2,875 | 6202 Murphy Lake Rd | Brimson |
| Dec 2025 | 10.00 | $48,000 | $4,800 | 7513 Highway 2 | Two Harbors |
| Nov 2025 | 80.00 | $130,000 | $1,625 | 4272 Bird Shot Rd | Silver Bay |
| Date | Acres | Price | $/Acre | Address | City |
|---|---|---|---|---|---|
| Nov 2025 | 25.86 | $105,000 | $4,060 | 4177 Joshua Rd | Silver Bay |
| Nov 2025 | 14.24 | $57,819 | $4,060 | Joshua Rd | Silver Bay |
| Nov 2025 | 5.05 | $155,000 | $30,693 | 5205 Ramsdell Hts | Silver Bay |
| Nov 2025 | 20.00 | $174,000 | $8,700 | Xxx Stanley Rd | Two Harbors |
| Oct 2025 | 1.40 | $260,000 | $185,714 | 669 Osprey Rd | Ely |
| Oct 2025 | 3.00 | $315,000 | $105,000 | 3216 Shady Rst | Ely |
| Oct 2025 | 20.00 | $110,000 | $5,500 | 4504 Crown Creek Spur | Finland |
| Oct 2025 | 27.00 | $235,000 | $8,704 | 104X Main St | Two Harbors |
| Oct 2025 | 27.00 | $235,000 | $8,704 | 104X Main St | Silver Bay |
| Oct 2025 | 2.00 | $115,000 | $57,500 | 2007 Highway 61 | Two Harbors |
| Oct 2025 | 3.50 | $115,000 | $32,857 | 708 Forest Heights Rd | Knife River |
| Sep 2025 | 20.00 | $91,000 | $4,550 | Highway 2 | Two Harbors |
| Sep 2025 | 10.00 | $96,000 | $9,600 | 1000 Airport Rd | Two Harbors |
| Sep 2025 | 2.86 | $135,000 | $47,203 | 1XX Christianson Lake Rd | Two Harbors |
| Sep 2025 | 2.50 | $650,000 | $260,000 | 2672 Castle Cv | Two Harbors |
| Sep 2025 | 11.68 | $339,000 | $29,024 | Xx Palisade Heights Trl | Silver Bay |
| Sep 2025 | 2.60 | $215,000 | $82,692 | Xxx4 Powerhouse Trl Lot 4 | Ely |
| Sep 2025 | 5.37 | $78,000 | $14,525 | 3378 Rock Rd | Silver Bay |
| Sep 2025 | 3.30 | $225,000 | $68,182 | Xxx3 Powerhouse Trl Lot 3 | Ely |
| Aug 2025 | 2.40 | $240,000 | $100,000 | Xxx5 Powerhouse Trl Lot 5 | Ely |
| Aug 2025 | 10.01 | $122,000 | $12,188 | Xxx Highway 2 | Two Harbors |
| Aug 2025 | 2.40 | $246,000 | $102,500 | Fernberg Rd Unit 5 | Ely |
| Aug 2025 | 120.00 | $155,000 | $1,292 | Xx Heffelfinger Trl | Silver Bay |
| Aug 2025 | 5.75 | $79,000 | $13,739 | Highway 61 | Duluth |
| Jul 2025 | 17.00 | $119,900 | $7,053 | 3451 E Alger Grade | Two Harbors |
| Jul 2025 | 5.08 | $85,000 | $16,732 | 9884 Fredrickson Rd | Isabella |
| Jul 2025 | 2.50 | $35,000 | $14,000 | 11XX Shoreview Rd | Two Harbors |
| Jul 2025 | 1.94 | $39,000 | $20,103 | Tbd Black Bear Trl | Ely |
| Jul 2025 | 80.00 | $190,100 | $2,376 | 6610 Grondahl Rd | Brimson |
| Jul 2025 | 3.20 | $240,000 | $75,000 | Xxx1 Powerhouse Trl Lot 1 | Ely |
| Jul 2025 | 2.90 | $200,000 | $68,966 | Xxx2 Powerhouse Trl Lot 2 | Ely |
| Jul 2025 | 6.00 | $300,000 | $50,000 | 740 Halfway Rd | Ely |
| Jul 2025 | 7.00 | $63,900 | $9,129 | Labrec Klein Trl | Ely |
| Jul 2025 | 80.00 | $235,000 | $2,938 | Xx Fors Rd | Two Harbors |
| Jun 2025 | 15.00 | $215,000 | $14,333 | 867 Big Timber Trl | Ely |
| Jun 2025 | 10.00 | $50,000 | $5,000 | LOT 3 Birch Hill Rd Lot 3 | Silver Bay |
| Jun 2025 | 14.40 | $50,000 | $3,472 | LOT 15 Birch Hill Rd Lot 15 | Silver Bay |
| Jun 2025 | 21.10 | $50,000 | $2,370 | LOT 14 Birch Hill Rd | Silver Bay |
| Jun 2025 | 7.00 | $215,000 | $30,714 | Mount Rockwood Rd | Silver Bay |
| Jun 2025 | 8.02 | $251,000 | $31,297 | Xx Lakeview Dr | Two Harbors |
| May 2025 | 40.00 | $25,000 | $625 | Xyz McAlpine Spur Rd E | Two Harbors |
| May 2025 | 2.54 | $55,000 | $21,654 | 4375 Wood Ridge Dr | Beaver Bay |
| May 2025 | 3.80 | $1,000,000 | $263,158 | 966 W Bay Rd | Two Harbors |
| May 2025 | 17.50 | $95,300 | $5,446 | 6635 Roses Rd | Finland |
| May 2025 | 80.00 | $159,000 | $1,988 | 2041 Fors Rd | Two Harbors |
| May 2025 | 5.02 | $85,000 | $16,932 | Xx Pine Point Trl | Two Harbors |
| Apr 2025 | 118.00 | $280,000 | $2,373 | 2075 Fors Rd | Two Harbors |
| Apr 2025 | 40.00 | $275,000 | $6,875 | Xxx Aspen Ln | Silver Bay |
| Mar 2025 | 10.00 | $115,000 | $11,500 | 4331 Highway 61 Parcel B | Two Harbors |
| Mar 2025 | 4.65 | $90,000 | $19,355 | Wildridge Dr | Two Harbors |
Suburban/Urban Land Sales (Under 1 Acre) (Sep 2025 – Oct 2025)
| Metric | Value |
|---|---|
| Median Lot Price | $60,000 |
| Recent Sales | 3 transactions |
| Avg Days on Market | 165 days |
| Avg Parcel Size | 0.45 acres |
| Active Listings | 17 properties |
Recent Suburban/Urban Land Sales
| Date | Acres | Price | Address | City |
|---|---|---|---|---|
| Oct 2025 | 0.16 | $12,000 | 15XX 10th Ave | Two Harbors |
| Sep 2025 | 0.59 | $60,000 | 14565 Snowbank Beach Rd | Ely |
| Sep 2025 | 0.59 | $60,000 | 14565 Snowbank Bch | Ely |
County Profile
| Demographic | Value |
|---|---|
| Total Population (2023) | 10,911 |
| Population (2020) | 10,905 |
| Population Growth | 0.06% |
| Median Household Income | $75,621 |
| Median Home Value | $222,900 |
| Total Housing Units | 7,405 |
| Vacant Housing Units | 2,375 |
| Housing Vacancy Rate | 32.1% |
| Median Age | 49.6 |
| Bachelor's Degree or Higher | 1,326 (12.2%) |
| Unemployment Rate | 5.1% |
Market Overview
Lake County, Minnesota has a population of 10,911, which has grown 0.06% since 2020. The median household income is $75,621, above the national median of $74,580 by 1.4%. The housing vacancy rate of 32.1% suggests soft market conditions. Lake County remains a key area for land acquisition in Minnesota. Recent rural land sales show a median price of $7,300 per acre, with properties averaging 26.50 acres. There are currently 52 active land listings in the county.
Related Resources
Nearby County Reports
Frequently Asked Questions
What is the current population of Lake County, Minnesota?
As of the 2023 American Community Survey, Lake County has a population of 10,911. The county has grown 0.06% since the 2020 Census, indicating a growing community.
What is the median household income in Lake County?
The median household income in Lake County is $75,621, which is 1.4% above the national median of $74,580.
Is Lake County growing or shrinking?
Lake County is growing. The population has increased 0.06% since 2020.
What is the housing market like in Lake County?
The median home value in Lake County is $222,900. The housing vacancy rate is 32.1%, which suggests soft market conditions. The unemployment rate is 5.1%, reflecting the local economic conditions. Recent rural land sales (1+ acres) show a median price of $7,300 per acre. Suburban/urban lots under 1 acre have a median lot price of $38,000.
Does Reelvest buy land in Lake County, Minnesota?
Yes! Reelvest Properties buys vacant land throughout Minnesota, including Lake County. We make cash offers within 24-48 hours, close in 14-30 days, and pay all closing costs. Get your free cash offer today.
Data Sources: Market data reflects recent vacant land transactions in the county. Demographic data from U.S. Census Bureau American Community Survey (2023), Bureau of Labor Statistics (2025). Updated monthly.