Prior Lake, MN Real Estate
According to census data in the year 2000 there were 5,794 housing units in Prior Lake.
This represents a 38.7% growth from 4,177 in 1990.
Of those housing units, 5,475 were located in either urbanized areas or urban clusters, and 319 were located in what is classified as a rural area.
Homeownership rate in Prior Lake is about 87.6%.
Prior Lake's vacancy rate, including seasonal lodging, is about 2.5%.
Average household size is 2.82 people.
The majority of houses, apartments or condos in Prior Lake were built after 1984.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 0.10% |
| One Bedroom | 5.20% |
| Two Bedrooms | 18% |
| Three Bedrooms | 42% |
| Four Bedrooms | 27.10% |
| Five Bedrooms or more | 7.50% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.91 |
| Median year structure was built | 1985 |
| Median Value of occupied units | $175,100 |
| Median Price asked for vacant units | $231,300 |
Rented Homes, Apartments and Condos
| Average Household Size | 2.16 |
| Median year structure was built | 1979 |
| Median Monthly Rent asked for vacant units | $625 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0.90% |
| Second Mortgage | 12.90% |
| Home Equity Loan | 15.60% |
| Simple Mortgage | 59.30% |
| Debt Free | 11.20% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 19.8% |
