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There are currently 107 real estate properties in Medicine Lake, MN, with a median automated valuation model (AVM) price of $773,800.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Medicine Lake, MN, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Medicine Lake, MN, is $757,190.00, with the most expensive house in Medicine Lake, MN, topping out at $1,394,000.00 and the cheapest home in Medicine Lake, MN, clocking in at $357,900.00. In other words, there’s something for every potential homebuyer or savvy investor in Medicine Lake, MN!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Medicine Lake, MN, is on a rollercoaster ride. The average rent price in Medicine Lake, MN, is $2,804.00. Indeed, when looking to rent in Medicine Lake, MN, you can expect to pay as little as $1,480.00 or as much as $3,760.00, with the average rent median estimated to be $2,910.00. The good news is that finding an affordable and desirable property to rent in Medicine Lake, MN -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Find the best foreclosure homes listings for sale — bank-owned, government (Fannie Mae, Freddie Mac, HUD, etc.) and others — in and near the Medicine Lake, MN area at Foreclosure.com. Get information on foreclosure homes for rent, how to buy foreclosures in Medicine Lake, MN and much more. Save thousands at closing with home foreclosure listings in Medicine Lake, MN — up to 75% off market value!
Medicine Lake is located in Hennepin, Minnesota, with an estimated municipal population of 374 residents. All of the best foreclosed homes for sale in Medicine Lake are located in the following zip code areas on Foreclosure.com: 55441. The estimated population per square kilometer (.62 miles) in Medicine Lake is 837.
So, about how much do homes cost in Medicine Lake? The most recent median value of resident-owned homes in Medicine Lake is 716,155. An estimated 66.1 percent of households in Medicine Lake own their homes, with an average family size of 3.44. The median household income in Medicine Lake is 86,563, with41.8 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Medicine Lake, the median commute time of resident workers (in minutes) is 20.4. And last, but certainly not least, are you looking for homes to rent in Medicine Lake? If so, the average rent price paid by renters in Medicine Lake is 944, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Medicine Lake, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Medicine Lake is 42.6, split between 51.4 percent male versus 48.6 female. The percentage of residents who report being married in Medicine Lake is 52.3, with an average family size of 3.44.
The percentage of residents who report their race in Medicine Lake is as follows:
| White | 92% |
| Black / African American | 0.7% |
| Asian | 2.3% |
| American Indian / Alaskan Native | 0% |
| Native Hawaiian / Other Pacifc Islander | 0.2% |
| Multi-racial | 3.9% |
| Other | 0.9% |
Looking for family-friendly neighborhoods in and/or near Medicine Lake? Or maybe you are searching for 55+ active adult communities in and/or near Medicine Lake?
The percentage of residents who report their age in Medicine Lake is as follows:
| Under 10 | 11% |
| Aged 10-19 | 17% |
| 20s | 6.4% |
| 30s | 10.3% |
| 40s | 15.6% |
| 50s | 17.9% |
| 60s | 9.9% |
| 70s | 8.9% |
| 80+ | 3% |
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Medicine Lake with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Medicine Lake.
How do you know that living in -- or moving to -- Medicine Lake is right where you need to be? Perhaps you grew up in Medicine Lake or already live nearby; therefore, the decision to buy a home in Medicine Lake is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Medicine Lake for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Medicine Lake:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Medicine Lake.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Medicine Lake can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Medicine Lake, meanwhile, can field multiple offers from more qualified buyers.
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