According to statistics, the population in Lake City, MN amounts to 5,154, which shows decline 1% compared to the previous year. The median age of the city’s residents is 50. The average household income is $53,300, shifting growth 4% from the past year, and the average property value in Lake City, MN growth 5% to $148,900 throughout the year.
|Number Of Employees||2,519|
|Median Property Value||$148,900|
The average household income in Lake City, MN grew from $51,287 to $53,300 in the past year. This data is an estimate based upon 2,346 households in Lake City, MN . The chart below presents how household income is distributed in Lake City, MN in comparison to the revenue allocation amid households nationally.
According to data from last year, the average property value in Lake City, MN shifted from $142,400 to $148,900 throughout the year. The subsequent graph indicates the share of properties in the given price range in Lake City, MN in comparison to the median property value in the same price segment across the country. According to the data, the greatest share of Lake City, MN properties falls in the '$125,000 to $149,999' range, which is lower than the most significant median property across the country.
One of the most important aspects for property owners is the amount of property taxes. This graph shows distribution of property taxes in Lake City, MN compared to median property taxes around the country. The prevalent amount of property taxes in Lake City, MN equals $2500, which is less than the national average.
During Oct 2022, the average price for an apartment in/near Lake City, MN increased by 42.9% to $394,905.
After collecting all data points, we now see that the average price for 1-bed apartment stands at $254,900 with no changes this month. Asking price for 2-bed apartment also decreased by 37.4% and a place of this size will now cost you $238,000. A 3-bed apartment goes for $472,266, it increased by 27.4% lately. We discerned the rise of 4- and more bed apartment pricing. It decreased by 9.3% and made it down to $413,166.
While assessing the property pricing Lake City, MN, you can note that it remains flat with a price tag of $198,000. Price reports demonstrate that house price increased by 0.1% this month making it up to $413,471. Condos faced an upward trend these days. The median price for a condo decreased by 32.9%, it’s now available for $254,900.