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Featured local agent — Forest Lake, MN
Sarah Mitchell
Compass Real Estate · Forest Lake, MN
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Forest Lake, MN Housing Market & Real Estate
Housing market overview · Updated monthly ·
$469,900median sale price
How is the Forest Lake, MN housing market right now?
The median home sale price in Forest Lake, MN is $469,900, up 4.5% year-over-year. Homes sell in an average of 22 days with 66 active listings. The market is currently a seller's market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Forest Lake a buyer's or seller's market?
Forest Lake, MN is currently a seller's market, based on 2.1 months of supply and homes selling in about 22 days. How we determine this →
Homes sold
31
Last 12 weeks
Days on market
22
Average pace
Active listings
66
2.1 months supply
Sale-to-list
99.4%
Below asking
What does the Forest Lake housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $469,900 |
| Median list price | $474,900 |
| Year-over-year price change | +4.5% |
| Average days on market | 22 days |
| Active inventory | 66 listings |
| Months of supply | 2.1 months |
| Sale-to-list price ratio | 99.4% |
| Median price per sq ft | $199/sq ft |
| Homes sold (latest month) | 31 |
| New listings (latest month) | 36 |
| Listings with a price cut | 50.0% |
| Market condition | Seller's market |
Source: Redfin · Updated monthly
How much do homes cost in Forest Lake by property type?
How the Forest Lake, MN market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $472,500 | $216/sq ft | 28 | 23 days |
| Condo / Co-op | $300,000 | $283/sq ft | 1 | 17 days |
| Townhouse | $270,000 | $182/sq ft | 3 | 18 days |
Source: Redfin · Updated monthly
The Forest Lake housing market is currently classified as a seller's market with a median sale price of $469,900. Prices have risen 4.5% compared to last year, with homes spending an average of 22 days on market, indicating 2.1 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 4.8x provides context for how home values compare to local earning capacity.
Homes for sale in Forest Lake
There are currently 66 homes listed for sale in Forest Lake, Minnesota. The median listing price is $475K.
Active listings
66
Homes on market
Median list price
$475K
Avg. days on market
22
Days until sale
New this week
36
Newly listed
Who lives in Forest Lake?
Population
20,678
Median income
$89,879/yr
Median age
38.8 years
Owner-occupied
71.8%
College grads
35.7%
Avg commute
25.4 min
Source: U.S. Census Bureau ACS
What are homes worth in Forest Lake?
Zillow home value
$434,497
Zillow rent index
$1,625/mo
Price-to-rent ratio
22.3x
Price-to-income
4.8x
Source: Zillow Research
What is it like to live in Forest Lake?
Forest Lake is a community of approximately 21K residents with a median age of 38.8 years.The median household income is $89,879, which reflects a relatively affluent area with strong earning potential. 35.7% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 71.8%, reflecting strong community stability and long-term resident commitment. The average commute time is 25.4 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Forest Lake offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Forest Lake?
16 schools tracked · 5,951 students
The largest public schools serving Forest Lake, MN by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Forest Lake Area High School
Grades 9-12 · 1,823 students
Forest Lake Area Middle School
Grades 7-8 · 844 students
LILA Lower School
Grades 1-5 · 597 students
LILA Upper School
Grades 6-12 · 572 students
COLUMBUS ELEMENTARY
Grades PK-6 · 426 students
Forest View Elementary
Grades PK-3 · 333 students
FOREST LAKE ELEMENTARY
Grades 4-6 · 315 students
North Lakes Academy Elementary
Grades K-5 · 266 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Forest Lake, MN?
Want a head-to-head view? Compare Forest Lake side-by-side with any other U.S. city using our market-comparison tool.
Is Forest Lake a good real estate investment market?
For investors evaluating Forest Lake, the price-to-rent ratio of 22.3x indicates higher purchase prices relative to rental income, typical of appreciation-focused markets. The market has appreciated 4.5% year-over-year, reflecting ongoing demand and value growth.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Forest Lake's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Forest Lake's median home price.
Frequently asked questions
What is the average home price in Forest Lake?
The median home sale price in Forest Lake is $469,900, up 4.5% from last year.
How long do homes stay on market in Forest Lake?
Homes typically spend 22 days on market before going under contract.
What is the median income in Forest Lake?
The median household income is $89,879 per year.
Is Forest Lake a buyer's or seller's market?
With 2.1 months of supply, Forest Lake is currently a seller's market.
What is the Zillow home value estimate for Forest Lake?
The Zillow Home Value Index (ZHVI) for Forest Lake is $434,497, representing the typical home value in the area.
What is the median condo price in Forest Lake?
The median condo/co-op sale price in Forest Lake, MN is $300,000, compared to $472,500 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Forest Lake?
The median single-family home price in Forest Lake, MN is $472,500 (about $216 per square foot).
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