Forest Lake, MN housing market
Typical home value
$428K
▲ 3.5% 1 yr
Typical rent
$1,573/mo
▲ 5.1% 1 yr
Gross rent yield
4.4%
U.S. 6.3%
5-year home value change
+14%
U.S. +20%
Key takeaways
- 1The typical home in Forest Lake is worth $428,361, up 3.5% over the past year and up 14% over five years.
- 2Typical rent is $1,573 a month (+5.1% YoY), a gross rent yield of 4.4% (below the Minneapolis, MN metro's 5.4%).
- 3With 20% down at 7.32%, principal and interest on the typical home is about $2,354/mo, $781 more than typical rent.
- 4Zillow forecasts the Minneapolis, MN metro's home values to change +1.6% over the next 12 months.
Market temperature (Minneapolis, MN metro)
Buyer's market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 32/100, #406 hottest of 546 metros. Below 44 favors buyers; above 55 favors sellers.
Home values and rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Forest Lake compares
| Measure | Forest Lake | Minneapolis, MN metro | United States |
|---|---|---|---|
| Typical home value | $428,361 | $387,807 | $366,157 |
| Home value, 1-yr change | +3.5% | +1.7% | +1.2% |
| Typical rent | $1,573 | $1,736 | $1,932 |
| Rent, 1-yr change | +5.1% | +3.5% | +2.7% |
| Gross rent yield | 4.4% | 5.4% | 6.3% |
| Price-to-rent ratio | 22.7 | 18.6 | 15.8 |
| Mortgage P&I, typical home | $2,354 | $2,131 | $2,012 |
Run the numbers
Rental property calculator
Cash flow on a typical Forest Lake rental, pre-filled.
Rent vs buy in Forest Lake
Which costs less over the years you'll stay.
Mortgage calculator
Monthly payment on a $428K home.
Other cities in the Minneapolis, MN metro
Minneapolis, MN
$328K home$1,747 rent
▲ 0.7% 1 yr
Saint Paul, MN
$291K home$1,524 rent
▲ 0.8% 1 yr
Bloomington, MN
$360K home$1,681 rent
▲ 1.0% 1 yr
Brooklyn Park, MN
$345K home$1,558 rent
▲ 0.5% 1 yr
Plymouth, MN
$505K home$1,907 rent
▲ 1.8% 1 yr
Woodbury, MN
$461K home$2,196 rent
▲ 2.2% 1 yr
Lakeville, MN
$485K home$2,101 rent
▲ 0.9% 1 yr
Maple Grove, MN
$424K home$2,198 rent
▲ 1.3% 1 yr
City figures are Zillow's typical home value (ZHVI) and observed rent (ZORI). Gross yield is before expenses. Data refreshed Oct 26, 2026.