Median Age
41 Years
Largest Age Group
50-59 Years
Approximately 14% of Residents
Under 20
25%
Over 65
18%
Avg Rent
$1,506
Population
29,241
Renter Mix
19% Rent
Prior Lake sits about 20 miles southwest of Minneapolis along the shores of Upper and Lower Prior Lake, two connected bodies of water that give the city its name and character. On any given morning, you might catch someone launching a kayak near Sand Point Beach, grabbing coffee along Highway 13, or heading downtown to browse locally owned shops. The city has more than 80 miles of sidewalks and trails and sits close to neighboring Shakopee and Savage, giving residents access to a wide range of dining, retail, and entertainment options without a long drive. Renters will find a mix of single-family-style townhomes, garden apartments, and mid-rise apartment communities. The rental stock tends toward roomier floor plans, reflecting the suburban setting. Prior Lake was incorporated as a village back in 1891, making it one of the oldest cities in the south metro area, and the city hosts an annual Lakefront Music Festival each July that draws large crowds to Lakefront Park.
Median Household Income
$115,404
Average: $147,164
Education
11,252
Residents Have a Degree
Job Market
17,301
Workers Employed
Median Age
41 Years
Largest Age Group
50-59 Years
Approximately 14% of Residents
Under 20
25%
Over 65
18%
Housing Distribution
Prior Lake has more homeowners than renters.
Education Distribution
Review this city's overall education levels.
As of July 2026, the average apartment rent in Prior Lake, MN is $1,289 for a studio, $1,506 for one bedroom, $1,743 for two bedrooms, and $2,134 for three bedrooms. Apartment rent in Prior Lake has increased by 1.8% in the past year.
Explore how walkable, bikeable, drivable, and transit-friendly Prior Lake, MN is for everyday living.
Somewhat Walkable
Walkability
Exceptionally Drivable
Drivability
Fairly Bikeable
Bikeability
Public
Grades K-5
519 Students
Public
Grades K-5
506 Students
Jeffers Pond Elementary School
Public
Grades K-5
506 Students
Public
Grades K-5
505 Students
Jeffers Pond Elementary School
Public
Grades PK-5
487 Students
Public
Grades 6-8
1,987 Students
Public
Grades 6-8
1,066 Students
Special Education Extended School Year
Public
Grades K-12
Public
Grades 9-12
75 Students
Special Education Extended School Year
Public
Grades K-12
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© 2026. All rights reserved.
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in June 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.