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City · 20,729 residents · Washington County, Minnesota

Forest Lake , Minnesota

In Forest Lake, a typical home is worth $393,500 and typical rent is $1,421 a month. Compared with all of Washington County, typical household income is 19% lower, typical rent is 17% lower, and the share of households that own their home is 8 points lower.

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  • Typical home value

    $393,500

    7% below the county

    19% above Minnesota

    • Forest Lake
    • Washington
    • Minnesota

  • Typical rent

    $1,421a month

    17% below the county

    11% above Minnesota

    • Forest Lake
    • Washington
    • Minnesota

  • Typical household income

    $92,944a year

    19% below the county

    4% above Minnesota

    • Forest Lake
    • Washington
    • Minnesota

  • Households that own their home

    73%

    8 points below the county

    1 points above Minnesota

    • Forest Lake
    • Washington
    • Minnesota

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$428,361
3.5% more than 12 months ago
Typical rent
$1,573 a month
5.1% more than 12 months ago

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Forest Lake is in Washington County. The FHA loan limit ($552,000 for a one-unit home), the fair market rents and the help on this page are those of all of Washington County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Forest Lake apart

What this place has that others do not, from public data, most unusual first.

  1. Nearby, in Wyoming, the typical rent is $1,166: 18% less than in Forest Lake ($1,421).

  2. The typical household income in Forest Lake is $92,944, 19% less than in Washington County as a whole ($115,345).

  3. The typical rent in Forest Lake is $1,421 a month, 17% less than in Washington County as a whole ($1,710).

  4. 73% of households in Forest Lake own their home, against 81% in Washington County.

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Forest Lake

What homes there are in Forest Lake, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

In Forest Lake, 6 in 10 homes are single-family detached houses; in Washington County, 7.

Year built

In Forest Lake, half of the homes were built before 1988; in Washington County, before 1992.

There are fewer big homes in Forest Lake than in Washington County: 62% have 3 bedrooms or more, against 71%.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

With a mortgage

$2,141 a month

Washington County: $2,275 a month

Without a mortgage

$791 a month

Washington County: $809 a month

Owners with a mortgage

69%

Washington County: 69%

Owning costs less in Forest Lake: with a mortgage, the typical cost is $2,141 a month; in Washington County, $2,275. Without one, $791.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

The typical home value in Forest Lake rose 45% since 2015–2019, about the same as in Washington County (46%).

Rents in Forest Lake rose more slowly than in Washington County: 27% since 2015–2019, against 31%.

Housing prices ran ahead of income in Forest Lake: typical income rose 16%, against +45% for home values and +27% for rent.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureForest LakeWashington CountyMinnesotaUnited States
Rental vacancy Unreliable estimate5.3%5.3%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate0.6%0.9%
More than one person per room Unreliable estimate1.5%2.3%3.4%
People per household 2.492.582.432.53
Drive alone 72%66%69%69%
Carpool 7%8%8%9%
Public transit Unreliable estimate1%2%3%
Walk or bike 3%1%3%3%
Work from home 18%24%18%15%
Other means Unreliable estimate1%1%2%
Typical commute 20 to 29 minutes20 to 29 minutes20 to 29 minutes20 to 29 minutes

A household in Forest Lake has 2.49 people on average, about the same as in Washington County (2.58).

In Forest Lake, 72% of workers drive alone to work; in Washington County, 66%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Forest Lake?

A typical home costs more than the typical income allows

We start with a typical home in Forest Lake, worth $393,500, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 42% of the typical household income in Forest Lake, which is $92,944 a year. For that payment to be 28% of income, a household would need to earn about $140,012 a year.

The calculator's FHA and conventional loan limits are those of all of Washington County.

Your numbers

Local data
$

Starts at the typical home value in Forest Lake. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $13,773 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$3,267

at 7.18% · 30 years

Loan amount
$386,372
Total interest
$555,899
Paid off in
November 2056

Includes $6,645 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $2,169 a month

  • Tight

    $2,169 to $2,788 a month

  • Hard

    more than $2,788 a month

    Your payment · 42%

Compared with the typical household income in Forest Lake ($92,944 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$3,267
Principal & interest$2,617
Property tax$312
Home insurance$164
FHA mortgage insurance (MIP)$174

You need at least $13,773 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Forest Lake and Washington County

Forest Lake is in Washington County, Minnesota. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Forest Lake's own numbers

Typical home value
$393,500
Typical monthly rent
$1,421
Typical yearly household income
$92,944
Households that own their home
73%
Effective property tax rate
0.95%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Washington County

FHA limit, one-unit home
$552,000
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,734
Price change over 5 years (FHFA)
+35%
Homes in a high flood-risk zone
0.6%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Washington County.

Everything about Washington County

Buying

Buying a home in Forest Lake

A typical home in Forest Lake is worth $393,500: 7% below the county and 19% above Minnesota. With the typical household income in Forest Lake ($92,944 a year), a typical home costs 4.2 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Forest Lake 4.2 years
  • Washington 3.7 years
  • Minnesota 3.7 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Washington County

According to FHFA’s house price index, home prices in Washington County rose 69% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Washington County.

Period County Minnesota U.S.
Last year (2025) +1.8% +2.8% +2.9%
5 years (2020–2025) +35% +37% +47%
10 years (2015–2025) +69% +71% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Forest Lake next to Washington County, Minnesota and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Forest Lake $393,500
  • Washington $422,000
  • Minnesota $329,300
  • United States $332,700
Typical monthly rent
  • Forest Lake $1,421
  • Washington $1,710
  • Minnesota $1,280
  • United States $1,413
Typical yearly household income
  • Forest Lake $92,944
  • Washington $115,345
  • Minnesota $89,062
  • United States $80,734
See the full table
Forest Lake next to Washington County and Minnesota
Measure Forest Lake Washington County Minnesota U.S.
Typical home value $393,500 $422,000 $329,300 $332,700
Typical monthly rent $1,421 $1,710 $1,280 $1,413
Typical yearly household income $92,944 $115,345 $89,062 $80,734
Households that own their home 73% 81% 72% 65%
Typical yearly property tax $3,751 $4,164 $3,357 $3,119
Effective property tax rate 0.95% 0.99% 1.02% 0.94%
Renters with high rent for their income 49% 51% 48% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Washington County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Forest Lake

For a typical $393,500 home in Forest Lake, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Forest Lake's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $3,267a month

    Least cash to close
    Down payment
    $13,773
    Cash to close
    $25,578
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $174

  • Conventional, 5% down $3,195a month

    Down payment
    $19,675
    Cash to close
    $31,480
    Rate
    7.18%
    Mortgage insurance
    PMI · $187

  • Conventional, 20% down, no PMI $2,608a month

    Down payment
    $78,700
    Cash to close
    $90,505
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $2,972a month

    Down payment
    $59,025
    Cash to close
    $70,830
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Forest Lake and for Washington County.

Property tax

Effective rate in Forest Lake

0.95%of the home’s value each year

$3,751 a year for the typical owner in Forest Lake.

  • Forest Lake 0.95%
  • Washington 0.99%
  • Minnesota 1.02%

What Minnesota publishes Homestead market value exclusion (Minnesota Office of the Revisor of Statutes (Minnesota Statutes))

Exemptions and deadlines in Minnesota

Flood risk in Washington County

FEMA does not publish these numbers by city: they are for all of Washington County.

Homes in the high-risk zone
0.6%
580
Of those, with NFIP insurance
22%
County Minnesota U.S.
Homes in the high-risk zone 0.6% 0.7% 3.5%
Of those, with NFIP insurance 22% 17% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Forest Lake

Typical rent in Forest Lake is $1,421 a month: 17% below the county. In Forest Lake, 49% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Washington County, by unit size. To pay the 2-bedroom one ($1,734 a month) without spending more than 30% of your income, you would need to earn $33.35 an hour working full time.

HUD fair market rent for all of Washington County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $1,265 $24.33 $50,600
1 bedroom $1,427 $27.44 $57,080
2 bedrooms $1,734 $33.35 $69,360
3 bedrooms $2,264 $43.54 $90,560
4 bedrooms $2,538 $48.81 $101,520

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Forest Lake

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Forest Lake is in ZIP code 55025.

For 2 bedrooms it is $1,720: $14 less than the fair market rent for Washington County ($1,734).

  • 55025 $1,720$2,250

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Forest Lake when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Forest Lake

HUD lists 8 buildings with rents for lower incomes in Forest Lake. These are the largest.

  • Kilkenny Court 1440 4th St SE, Forest Lake 55025 92 homes, 91 low-income · 1 bd: 83 · 2 bd: 9 · In service since 2008 · For older adults (651) 464-7300
  • Headwaters Landing 20041 Fitzgerald Trl N, Forest Lake 55025 45 low-income homes · 1 bd: 9 · 2 bd: 22 · 3 bd: 14 · In service since 2020 · For families, people experiencing homelessness
  • Westridge Townhomes 816 12th St SW, Forest Lake 55025 42 low-income homes · For families (651) 464-2399
  • Whispering Pines 7 5th Ave NE, Forest Lake 55025 42 homes, 40 low-income · Run by Washington County Cda · Average payment: $360 a month · Average wait: 4 months (651) 458-0936
  • Forest Ridge Townhomes Multiple Building Addresses, Forest Lake 55025 38 homes, 37 low-income · 2 bd: 19 · 3 bd: 19 · In service since 2007 · For people with disabilities, families

See all 56 buildings in Washington County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Forest Lake

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

There is 1 HUD-approved agency with an office in Washington County; none says it serves in Spanish.

A man shakes hands with the specialist who helped him with his loan, in the kitchen of his new home.

HUD counseling is free or low-cost

Assistance programs in Forest Lake

No down payment, repair or rent-help program on our list is for Forest Lake or Washington County. The ones below are statewide in Minnesota: they work in Forest Lake the same as in the rest of the state.

Which programs do I qualify for? All programs in Minnesota

  • Deferred Payment Loan (Start Up)

    Statewide in Minnesota

    Minnesota state agency loan for the down payment and closing costs alongside the Start Up mortgage for first-time buyers: up to $14,000 (or $18,000 in the Plus version), with no interest or monthly payments, repaid at the end of the mortgage. Offered by Minnesota Housing (Minnesota Housing Finance Agency).

    Deferred

    See the program Official page

  • Monthly Payment Loan

    Statewide in Minnesota

    Minnesota Housing loan of up to $14,000 for the down payment and closing costs, which you repay over 15 years at the same rate as your Minnesota Housing mortgage; it works with Start Up (first-time buyers) or Step Up. Offered by Minnesota Housing (Minnesota Housing Finance Agency).

    Repayable

    See the program Official page

Housing counselors near Forest Lake

The HUD-approved agencies closest to the center of Forest Lake, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Anoka County Community Action Program, Inc

    1201 89th Ave NE Ste 345, Blaine · 16 miles away

    • Pre-purchase counseling
    • Homebuyer education workshops
    763-783-4747x4851

  • Navicore Solutions-Roseville, MN

    1700 Highway 36 W Ste 510, Roseville · 19 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 3 more
    (866) 472-4557

  • Minnesota Homeownership Center

    1000 Payne Avenue, Saint Paul · 20 miles away

    (651) 659-9336

Every agency in Washington County All counseling agencies in Minnesota

Help in Spanish near Forest Lake

1 of the 3 agencies on this list says it serves in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Forest Lake

HUD’s record names them for Forest Lake or Washington County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Washington County Cda Public housing and Section 8 vouchers (651) 458-0936

All housing agencies in Minnesota Source: HUD

Cities

Other cities in Washington County

These cities are also in Washington County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Washington County Housing in Minnesota

Nearby cities

The cities closest to Forest Lake, with the typical home value.

Neighboring counties

If Washington County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Forest Lake.

All guides
Two girls write and draw together at the living-room table.

Questions

Housing questions about Forest Lake

Short answers with the numbers for Forest Lake and all of Washington County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Forest Lake?

The typical home value in Forest Lake is $393,500, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Washington County it is $422,000.

How much does it cost to rent in Forest Lake?

Typical rent in Forest Lake is $1,421 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Washington County is $1,734.

What is the FHA loan limit in Forest Lake?

Forest Lake uses the FHA limit for all of Washington County (2026): $552,000 for a one-unit home and $1,061,550 for a four-unit home.

How much property tax do owners pay in Forest Lake?

The typical homeowner in Forest Lake pays $3,751 a year, according to the U.S. Census Bureau. That is 0.95% of the home’s value; in Washington County, the rate is 0.99%.

Where can I find free help to buy or rent in Forest Lake?

There is 1 HUD-approved counseling agency with an office in Washington County. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).