Washington County · Minnesota · Midwest · 21k residents
Forest Lake, MN: economy, jobs & business costs
The site-selection read on Forest Lake: labor costs, talent, corporate tax, energy, and business activity, with the Minnesota median as the yardstick. Compare it live against any of 3,000 US cities.
Data coverage: ACS place data; supplementary fields may use state estimates.
Average weekly wages in the surrounding labor market run $1,218/wk. Minnesota's corporate income tax rate is 9.8%. Commercial electricity averages 12.1¢/kWh.
Compare Forest Lake side by side
Avg. weekly wage
$1,218/wk
Corporate income tax
9.8%
Bachelor's degree or higher
35.4%
Commercial electricity
12.1¢/kWh
Economic momentum
How fast Forest Lake's economy is moving, ranked against the US cities we track.
52/100
Steady
Ranks Forest Lake's residential building-permit and jobs growth against the US cities we cover. The label is relative pace, not a direction, so a market can rank low while some figures still rise. A higher score moves faster, it is not cheaper or better. This is economic activity, not commercial lease rates or vacancy. Not investment or relocation advice.
| ACS median home value | $393,500 |
| Price per sq. ft. | $200 |
| Property tax rate | 1.05% |
| 1-bedroom rent | $1,291/mo |
| 2-bedroom rent | $1,410/mo |
| State & local income tax | 3.68% |
| Sales tax | 7.5% |
| Corporate income tax | 9.8% |
| Avg. weekly wage | $1,218/wk |
| Bachelor's degree or higher | 35.4% |
| Commercial electricity | 12.1¢/kWh |
| Businesses per 1k residents | 24.8/1k |
| Wage: Software developer | $130,920 |
| Wage: Registered nurse | $103,040 |
| Wage: General manager | $103,570 |
| Wage: Customer service | $49,480 |
| Wage: Warehouse worker | $37,440 |
| Wage: Heavy truck driver | $64,200 |
| Wage: Electrician | $81,890 |
| Wage: Retail salesperson | $36,670 |
| Cost of living index | 100 |
| Groceries index | 100 |
| Utilities | $165/mo |
| Transit pass | $85/mo |
| Gas price | $3.15/gal |
| Healthcare index | 102 |
| Childcare (per child) | $1,350/mo |
| Median household income | $92,944 |
| Unemployment rate | 2.9% |
| Population | 21k |
| Crime index | 40/100 |
| School rating | 7.0/10 |
| Walkability | 30/100 |
| Disaster risk | 84/100 |
| Avg. commute | 24 min |
| Sunny days / year | 195 days |
| July high | 83°F |
| January low | 3°F |
| Annual snowfall | 52 in |
| Home price YoY | +3.1% |
| Home price MoM | +0.1% |
| Rent YoY | +3.8% |
| Rent MoM | +0.3% |
| Employment (jobs) YoY | +0.9% |
| Building permits YoY | -28.9% |
| Ocean coast | 1016 mi |
| Big lake | 38 mi |
| Mountains | 497 mi |
| Major airport | 29 mi |
| Ski resort | 107 mi |
Popular comparisons
Nearby
- Hugo, MN · 16k
- Lino Lakes, MN · 22k
- Ham Lake, MN · 17k
- White Bear Lake, MN · 24k
- St. Paul, MN · 307k
Similar size
- Northfield, MN · 21k
- South St. Paul, MN · 21k
- New Hope, MN · 21k
- Willmar, MN · 21k
- West St. Paul, MN · 21k
Real listings in Forest Lake
LoopNet ↗Crexi ↗CommercialCafe ↗
Links open third-party listing searches. WhereToHQ has no paid relationship with these sites.
- Is Forest Lake a good place to run a business?
- Minnesota's corporate income tax rate is 9.8%; average weekly wages in the surrounding labor market run $1,218/wk; commercial electricity averages 12.1¢/kWh. Weigh these against your own priorities in the business comparison tool.
- What is the cost of living in Forest Lake, MN?
- Forest Lake indexes at 100 for day-to-day costs against a national baseline of 100, with a typical two-bedroom renting for $1,410/mo and a acs median home value of $393,500.
- How much does a house cost in Forest Lake?
- The acs median home value in Forest Lake is $393,500 (Census ACS estimate; individual listings vary).
- How much is rent in Forest Lake?
- A two-bedroom in Forest Lake rents for about $1,410/mo.