Home prices
The cost of the median home in Medicine Lake is $712,500. In comparison to nearby areas it is approximately $442,420 (163%) higher.It is approximately $495,000 (227%) higher compared to the nation as a whole, and is approximately $460,900 (183%) higher compared to the city of Minneapolis.
Rents
In Medicine Lake the median monthly rent is $944. In comparison to its nearby areas it is roughly $270 (22%) lower.It is approximately $118 (11%) lower compared to the rest of the nation, and it is roughly $83 (8%) lower compared to the city of Minneapolis.
Nearby places
Plymouth
Plymouth is Medicine Lake's neighbor to the northwest. Its housing prices are significantly less expensive. The median home in Plymouth costs $351,700, which is $360,800 (102%) lower than Medicine Lake. Rent there is a little more expensive. The median rent in Plymouth is $1,355 per month, which is $411 (30%) higher than Medicine Lake.
Golden Valley
Golden Valley is approximately 2 miles east of Medicine Lake. Its real estate prices are significantly less expensive. Golden Valley's median home value is $304,700, which comes out to $407,800 (133%) lower than Medicine Lake. Its rents are a bit more expensive. In Golden Valley the median rent is $1,349 per month, which is $405 (30%) higher than Medicine Lake.
New Hope
New Hope is about 2 miles northeast from Medicine Lake. The real estate prices there are substantially less expensive. New Hope's median home cost is $225,100, which works out to $487,400 (216%) lower than Medicine Lake. Rent there is a little more expensive. New Hope's median monthly rent is $1,034, which is $90 (8%) higher than Medicine Lake.
Crystal
Crystal is about 3 miles northeast of Medicine Lake. The real estate prices there are a lot less expensive. The median home in Crystal is valued at $197,300, which comes out to $515,200 (261%) lower than Medicine Lake. The rent there is somewhat more expensive. The median monthly rent in Crystal is $1,099, which works out to $155 (14%) higher than Medicine Lake.
St. Louis Park
St. Louis Park is approximately 3 miles southeast of Medicine Lake. Real estate prices there are substantially less expensive. St. Louis Park's median home cost is $271,600, which comes out to $440,900 (162%) lower than Medicine Lake. Rent there is a bit more expensive. In St. Louis Park the median monthly rent is $1,232, which comes out to $288 (23%) higher than Medicine Lake.
