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Advertise here →Medicine Lake, MN · Market Data
Medicine Lake, Minnesota real estate market data.
Real estate market data for Medicine Lake, MN (Hennepin County) — Census median home value $1,014,500, county listing prices down about 1.0% over the past year.
Medicine Lake, MN is in Hennepin County, Minnesota — covering the whole local market here: resale homes, condos, land, and new construction. The most recent Census estimate puts the population at 541, with a median household income of $161,250. Census data puts Medicine Lake's median home value at $1,014,500 (all owner-occupied homes); Hennepin County's current median listing price runs $418,023, down about 1.0% over the past year.
At a glance
Medicine Lake market snapshot
Population
541
Median Household Income
$161,250
Median Home Value (city)
$1,014,500
Median Listing Price (Hennepin County)
$418,023
Median Gross Rent
$1,025/mo
Price Trend (YoY)
-1.0%
Market data compiled from public sources; deemed reliable but not guaranteed; verify independently. Full source list ↗
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What makes Medicine Lake different
Home Value, By Source
The Census Bureau's American Community Survey (2023 5-year estimate) puts Medicine Lake's median home value — across all owner-occupied homes, not just recent sales — at $1,014,500. Separately, Hennepin County's current median listing price (via Realtor.com data, 2026-06-01) runs $418,023. These cover different geography (city vs. county) and different measures (assessed value vs. active listings), which is why we show both rather than picking one — full source list on our data sources page.
County Price Trend
Hennepin County's FHFA house price index shows a 3.01% annual change in 2025.
Population & Income
Medicine Lake has an estimated population of 541 and a median household income of $161,250, per the Census Bureau's American Community Survey (2023 5-year estimate).
Affordability Snapshot
Medicine Lake's Census-reported median home value works out to about 6.3x the area's median household income, and median gross rent runs roughly 8% of that same income on an annualized basis. Housing economists commonly flag a price-to-income ratio above 4x as historically elevated -- useful context, not a personal affordability verdict.
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Common questions
Medicine Lake FAQ
What are home values like in Medicine Lake, MN?
The Census Bureau's American Community Survey puts Medicine Lake's median home value at $1,014,500. Hennepin County's current median listing price runs $418,023, down about 1.0% over the past year.
What is the population of Medicine Lake, MN?
The U.S. Census Bureau's American Community Survey (2023 5-year estimate) puts Medicine Lake's population at approximately 541.
What's the median rent in Medicine Lake, MN?
The Census ACS estimates median gross rent in Medicine Lake at approximately $1,025 per month.
What is the median household income in Medicine Lake, MN?
Census ACS data puts the median household income in Medicine Lake at approximately $161,250.
Is the Medicine Lake housing market growing?
Hennepin County's FHFA house price index shows a 3.01% annual change in 2025.
Is Medicine Lake, MN affordable relative to income?
Census ACS data puts Medicine Lake's median home value at about 6.3 times the median household income, with median gross rent equal to roughly 8% of that income annually. This is a general benchmark, not a personal pre-qualification -- your own income, debt, and down payment determine what you can actually afford.
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