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.
More Forest Lake, MN Property Resources
Rent to own Homes in Cities Near Forest Lake, MN
- Afton
- Beldenville
- Birchwood Village
- Center City
- Columbus
- Cottage Grove
- Deer Park
- Dellwood
- Dresser
- Forest Lake
- Gem Lake
- Grant
- Hammond
- Hastings
- Houlton
- Hudson
- Hugo
- Inver Grove Heights
- Lake Elmo
- Lakeland
- Lakeland Shores
- Lake St. Croix Beach
- Landfall
- Lindstrom
- Lino Lakes
- Little Canada
- Mahtomedi
- Maplewood
- Marine on St. Croix
- Newport
- North Hudson
- North St. Paul
- Oakdale
- Oak Park Heights
- Osceola
- Pine Springs
- Prescott
- Roberts
- Shafer
- Somerset
- South St. Paul
- Stillwater
- St. Marys Point
- St Paul
- Saint Paul
- St. Paul Park
- Taylors Falls
- Vadnais Heights
- Welch
- White Bear Lake
Neighborhoods in Forest Lake, MN
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No zip codes foundBuying 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
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.