Rent to own Homes in Forest Lake, MN

Among locals, Forest Lake's nickname is "As good as it sounds," and that says a lot, considering that Forest Lake sits along one of the 100 largest -- and most beautiful -- lakes in Minnesota. With a population of 19,132, this former timber town has cold winters, but beautiful summers in the low 80s. The birthplace of Log Cabin Syrup, Forest Lake is also a haven for winter sports enthusiasts; and in 2013, 18 world records were broken here in snowmobiling.

Forest Lake, MN is a great place for affordable rent-to-own homes! With a median household income of over $84,436 and a median rent of $1,132, the Forest Lake, MN rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Forest Lake, MN. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.

Check out Forest Lake, MN rent to own homes for sale, which may include auction properties, for sale by owner, and more.
Showing 1 - 44 of 176
1 of 25 304 138TH AVE
Rent To Own
 
Single Family Home
Houlton, WI 54082
4
3
2653 ft2
2007
107 WILKIN ST
Rent To Own
West Seventh
Single Family Home
Saint Paul, MN 55102
3
2
1548 ft2
1880
4141 3RD ST NE #106
Rent To Own
 
Townhouse/Condo
Minneapolis, MN 55421
1
1
738 ft2
1986
6337 GIRARD AVE S
Rent To Own
CARAG
Single Family Home
Minneapolis, MN 55423
2
3
1380 ft2
1940
6319 W 32ND ST
Rent To Own
Lenox
Single Family Home
Minneapolis, MN 55416
1
1
612 ft2
1926
14620 GARRETT AVE #211
Rent To Own
 
Townhouse/Condo
Saint Paul, MN 55124
1
1
720 ft2
1980
New
20461 206TH DR N
Rent to Own Eligible
 
Single Family Home
Forest Lake, MN 55025
4
4
1860 ft2
2001
New
21163 S CLYDESDALE CURV
Rent to Own Eligible
 
Townhouse/Condo
Forest Lake, MN 55025
2
2
1320 ft2
2003
21670 HEALY AVENUE CIR N
Rent to Own Eligible
 
Single Family Home
Forest Lake, MN 55025
4
2
1486 ft2
1977
20048 FITZGERALD TRL N
Rent to Own Eligible
 
Townhouse/Condo
Forest Lake, MN 55025
2
3
1772 ft2
2022
1 of 28 20162 FARNHAM LN N
Rent to Own Eligible
 
Townhouse/Condo
Forest Lake, MN 55025
2
2
1666 ft2
2003
20661 FENSTON AVE N
Rent to Own Eligible
 
Townhouse/Condo
Forest Lake, MN 55025
2
2
1356 ft2
2001
6901 N SHORE TRL N
Rent to Own Eligible
 
Single Family Home
Forest Lake, MN 55025
3
2
1727 ft2
1947
New
7385 208TH STREET CT N
Rent to Own Eligible
 
Single Family Home
Forest Lake, MN 55025
4
3
1748 ft2
1978
1252 ISLAND DR
Rent to Own Eligible
 
Townhouse/Condo
Forest Lake, MN 55025
2
2
1268 ft2
1998
19963 FARNHAM AVE N
Rent to Own Eligible
 
Single Family Home
Forest Lake, MN 55025
4
4
3384 ft2
2019
New
6338 207TH ST N
Rent to Own Eligible
 
Townhouse/Condo
Forest Lake, MN 55025
3
2
1258 ft2
2002
New
156 6TH ST NW
Rent to Own Eligible
 
Single Family Home
Forest Lake, MN 55025
3
2
1165 ft2
1900
New
6516 APPALOOSA AVE N
Rent to Own Eligible
 
Townhouse/Condo
Forest Lake, MN 55025
3
3
1590 ft2
2004
887 8th Ave SE
Rent to Own Eligible
 
Townhouse/Condo
Forest Lake, MN 55025
3
2
1536 ft2
1984
1 of 71 15057 HORNSBY ST NE
Rent to Own Eligible
 
Single Family Home
Forest Lake, MN 55025
2
2
1098 ft2
1975
5096 EVERGREEN RD
Rent to Own Eligible
 
Single Family Home
Forest Lake, MN 55025
3
1
2756 ft2
1981
New
25698 FRIESLAND CT
Rent to Own Eligible
 
Single Family Home
Wyoming, MN 55092
3
2
1884 ft2
2000
New
1 of 31 10425 KISMET ISLE
Rent to Own Eligible
 
Single Family Home
Chisago City, MN 55013
4
3
2158 ft2
1988
4824 Elm Dr N
Rent to Own Eligible
 
Townhouse/Condo
Hugo, MN 55038
2
2
911 ft2
2005
4813 EDUCATION DR N
Rent to Own Eligible
 
Single Family Home
Hugo, MN 55038
2
2
1550 ft2
2020
4827 EDUCATION DR N
Rent to Own Eligible
 
Single Family Home
Hugo, MN 55038
2
2
1550 ft2
2021
4384 Empress Dr N
Rent to Own Eligible
 
Townhouse/Condo
Hugo, MN 55038
3
2
1512 ft2
2005
4831 EDUCATION DR N
Rent to Own Eligible
 
Single Family Home
Hugo, MN 55038
2
2
1550 ft2
2021
15134 FANNING DR N
Rent to Own Eligible
 
Townhouse/Condo
Hugo, MN 55038
3
3
1982 ft2
2007
15110 GREENE AVE N
Rent to Own Eligible
 
Single Family Home
Hugo, MN 55038
2
2
1151 ft2
1999
5149 149TH ST N #4
Rent to Own Eligible
 
Townhouse/Condo
Hugo, MN 55038
2
2
1288 ft2
2007
1 of 32 4490 Rosemary Way
Rent to Own Eligible
 
Townhouse/Condo
Hugo, MN 55038
2
2
1632 ft2
2009
New
5075 149th St N
Rent to Own Eligible
 
Townhouse/Condo
Hugo, MN 55038
2
2
1288 ft2
2005
4478 Rosemary Way
Rent to Own Eligible
 
Townhouse/Condo
Hugo, MN 55038
2
2
1632 ft2
2010
5045 149TH ST N #2
Rent to Own Eligible
 
Townhouse/Condo
Hugo, MN 55038
2
2
1288 ft2
2005
Hot New
14914 GLENBROOK AVE N
Rent to Own Eligible
 
Townhouse/Condo
Hugo, MN 55038
3
2
938 ft2
1999
4363 VICTOR PATH #6
Rent to Own Eligible
 
Townhouse/Condo
Hugo, MN 55038
2
3
1437 ft2
2004
4615 VICTOR PATH #6
Rent to Own Eligible
 
Townhouse/Condo
Hugo, MN 55038
2
3
1440 ft2
2010
Hot
1979 MAIN ST
Rent to Own Eligible
 
Single Family Home
Hugo, MN 55038
3
2
929 ft2
1980
13919 FLAY AVE N
Rent to Own Eligible
 
Townhouse/Condo
Hugo, MN 55038
2
1
1159 ft2
2000
New
13813 FLAY AVE N
Rent to Own Eligible
 
Townhouse/Condo
Hugo, MN 55038
3
3
1050 ft2
2003
13886 GENEVA AVE N
Rent to Own Eligible
 
Single Family Home
Hugo, MN 55038
3
3
1887 ft2
2021
6712 PALM ST
Rent to Own Eligible
 
Single Family Home
Hugo, MN 55038
4
3
2114 ft2
2015
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Buying a Home in Forest Lake, MN

Forest Lake, MN is seeing rapid growth and Forest Lake, MN's' housing market remains not optimal with an average home price that is 32% above the 2024 national average. Forest Lake, MN is part of Washington county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county Washington is 0.96% which is below the national average, which is 0.99%.

Median Home Price in Forest Lake, MN

Median Rent in Forest Lake, MN

Rent to own homes offer low monthly payments and flexible terms.

Top 6 Reasons to Live in Forest Lake

Walk on the wild side! Forest Lake is home to the Wildlife Science Center, which has the largest population of captive wolves in the U.S. Another wildlife habitat is the Lampre Pass Wildlife Management Area, located just two miles from downtown.

Scenic dining rooms! With its magnificent vistas, Forest Lake is a great place for an outdoor meal. Check out the elegant lobster mac and cheese at Acqua Restaurant, which was included in OpenTables Top 100 list of scenic view restaurants in 2013. There's also Vannelli's By the Lake, a lakefront restaurant serving classic Italian cuisine.

Fantastic parks! Lakeside Park, a locals' favorite, has a beach, three picnic areas, lovely lake trails and an access ramp for boaters. Another favorite is nearby Beltz Park, which has an outdoor skating rink and courts for tennis, basketball and sand volleyball.

Rising home values! Home values in Forest Lake have risen by 9.3 percent this past year, with median house sale prices at around $243,435, which is surprisingly affordable for a lake resort town. The elegant South Shore Drive area has houses for sale at a wide variety of prices, with listings from under $150,000 to more than $600,000. Likewise, the North Shore Drive area has a number of lovely late-century and contemporary homes at prices listed from around $229,000 up to $483,900.

Affordable rentals! Looking for rent to own properties or monthly rentals? Forest Lake has a good selection of affordable rental houses. Check out the neighborhood around 7th Street, where spacious three-bedrooms can list for under $1,300. If you prefer townhouse living, check out the area around 207th Street, where elegant townhouses list for less than $1,200.

Eclectic shopping! Forest Lake isn't just for outdoor recreation; it's also a great place for a bit of indoor recreation in the way of shopping. For one-of-a-kind items, check out 7th Avenue Antique Mall, which offers a wide range of dealers selling vintage collectibles. For unique gifts and toiletries, be sure to visit Poplar Hill Dairy Goat Farm, which specializes in goat milk soap.