Similar to the surrounding areas, it's a bit more expensive compared to the country as a whole. Compared to the city of Minneapolis, it's somewhat more expensive.
Home prices
The median home in Forest Lake costs $272,200. Compared to the surrounding areas this is approximately $13,000 (4%) lower.It is approximately $54,700 (25%) higher in comparison to the entire nation, and in comparison to the city of Minneapolis it is about $20,600 (8%) higher.
Rents
In Forest Lake the median monthly rent is $1,117. It is is very similar in comparison to its nearby areas.In comparison to the entire nation it is about $55 (5%) higher, and is about $90 (8%) higher in comparison to the city of Minneapolis.
Nearby places
Columbus
Columbus is Forest Lake's neighbor to the west. Real estate prices there are fairly similar. The value of the median home in Columbus is $275,300, which works out to $3,100 (1%) higher than Forest Lake. The rent there is a bit less expensive. Columbus's median monthly rent is $888, which is $229 (25%) lower than Forest Lake.
Wyoming
Wyoming is Forest Lake's neighbor to the north. Housing prices there are a bit less expensive. The median home price in Wyoming is $242,600, which works out to $29,600 (12%) lower than Forest Lake. Rent there is similar. The median monthly rent in Wyoming is $1,096, which works out to $21 (1%) lower than Forest Lake.
Scandia
Scandia is Forest Lake's neighbor to the east. The housing prices there are somewhat more expensive. Scandia's median home cost is $387,400, which works out to $115,200 (29%) higher than Forest Lake. Rent there is similar. Scandia's median monthly rent is $1,064, which comes out to $53 (4%) lower than Forest Lake.
Hugo
Hugo is Forest Lake's neighbor to the south. Its housing prices are pretty similar. The median home in Hugo costs $259,300, which comes out to $12,900 (4%) lower than Forest Lake. Rents there are somewhat more expensive. In Hugo the median monthly rent is $1,500, which is $383 (25%) higher than Forest Lake.
Chisago City
Chisago City is Forest Lake's neighbor to the north. Its housing prices are similar. Chisago City's median home price is $261,400, which works out to $10,800 (4%) lower than Forest Lake. Rent there is fairly similar. Chisago City's median rent is $1,091 a month, which works out to $26 (2%) lower than Forest Lake.
