What it's like to live in Prior Lake
Prior Lake is a small city in Minnesota with unemployment below the national average, household incomes running above the national average, crime rates well below the national average, and a highly educated workforce. Those factors carry real weight for anyone weighing where to move next.
The tradeoffs are worth naming plainly. Prior Lake deals with rent well above the national average, home prices well above the national average, a rent burden that leaves many renters stretched thin, and cold, harsh winters.
The good
- Low unemployment
- Higher-than-average incomes
- Low crime rates
- Highly educated workforce
- Average class sizes
The not so good
- Rent well above the national average
- High home prices
- High rent burden for renters
- Cold, harsh winters
- Snowy winters — 55" per year
How Prior Lake compares
Median household income
Median rent (per month)
Median home value
What it takes to move to Prior Lake
Based on Prior Lake's median rent, home value and household income
To rent
$3,308
up front: first month plus a typical one-month deposit
- Income to keep rent under 30%: $66,160 a year
- 58% of Prior Lake renters spend 30% or more of their income on rent
To buy
$90,140
a 20% down payment on the median home
- With 10% down: $45,070
- Homes cost 3.4× the typical local household income (US: 4.1×)
Moving costs, closing costs and taxes not included.
The details
Cost of living▲ 17% above US
$1,654/mo median rent
Rent runs on the higher side, at $1,654 a month median. Whether that premium makes sense usually comes down to the local job market and what it pays. Home prices run above average, with a median around $450,700. Buyers should expect to stretch their budget here.
Median home value $450,700 · 58% of renters cost-burdened
Job market▼ 26% below US
3.2% unemployment
Unemployment here is 3.2%, a little below the national average of 4.3%.
City-level (BLS)
Safety▼ 60% below US
132 violent crimes per 100k
Safety is genuinely one of the selling points here. Both violent and property crime run well below the national average, the kind of numbers that fade into the background after a week of living somewhere.
Property crime 1010/100k · Prior Lake Police Department · 2025 data
Getting aroundNear US average
25 min average commute
Commutes run about average, at 24.7 minutes. Fine day to day, but it adds up over a year, and where someone lives relative to where they work starts to matter. 7 in 10 workers drive to work; 25% work from home.
How workers get to work
Climate
Summers are warm, with highs around 81°F, and winters are cold and harsh, with lows dropping to 11°F.
Average month
30-year averages, 1991–2020
Education & workforce▲ 46% above US
52% bachelor's degree or higher
This is a highly educated city, with over half the adult population holding a college degree. That tends to shape the job market and the broader culture, and it's a solid indicator of a strong professional scene.
Schools
10 public schools inside the boundary
There are 10 public schools inside the boundary and 3 private schools. The student-to-teacher ratio is 16:1, close to the national average of 16:1.
Parks & recreation
The nearest national park or historic site is Mississippi National River & Recreation Area (23 miles away). There are 2 national parks and sites within a day's drive.
Bottom line
Prior Lake's strongest points are unemployment below the national average and household incomes running above the national average; the main tradeoffs are rent well above the national average and home prices well above the national average. A year of median rent ($1,654/mo) equals 15% of the median household income here, less than the 21% typical nationwide. It tends to suit job seekers, anyone prioritizing low crime, and remote workers (25% of workers here already work from home). It may be a harder fit for anyone who dislikes long, cold winters.
Other places near Prior Lake
All Minnesota guides →Moving to Shakopee →
4 mi away · pop. 46,012
Rent $1,531/mo · Income $107,223
Compare with Prior Lake →Moving to Burnsville →
8 mi away · pop. 64,463
Rent $1,513/mo · Income $87,024
Compare with Prior Lake →Moving to Eden Prairie →
9 mi away · pop. 63,051
Rent $1,833/mo · Income $130,489
Compare with Prior Lake →Not sure Prior Lake is the one?
Put it side by side with another city.