The typical owner-occupied home in Fifty Lakes is worth about $457,300, 39% above the Minnesota median of $329,300 and 37% above the national median of $332,700. Owners pay a median $2,675 a year in property taxes, about 0.58% of their home's value, lower than the Minnesota rate of 1.02%. The median household earns $84,615 a year, so the median home costs 5.4 times the median income (3.7 times for Minnesota). 94% of occupied homes here are lived in by their owners, and 36% of those owners still have a mortgage.
Fifty Lakes at a glance
| Fifty Lakes | Minnesota | U.S. | |
|---|---|---|---|
| Median home value | $457,300 | $329,300 | $332,700 |
| Median property tax paid per year | $2,675 | $3,357 | $3,119 |
| Property tax as a share of value | 0.58% | 1.02% | 0.94% |
| Median household income | $84,615 | $89,062 | $80,734 |
| Homes lived in by their owners | 94% | 72% | 65% |
| Owner homes with a mortgage | 36% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $1,825 | $1,947 | $1,963 |
| Those costs as a share of the owners' income | 26.7% | 19.7% | 21.0% |
| Median rent | – | $1,280 | $1,413 |
| Median year homes were built | 1978 | 1979 | 1980 |
| Vacant homes | 59.1% | 9.3% | 10.1% |
| Population | 478 | 5,739,445 | 334,922,499 |
What a typical home costs per month in Fifty Lakes
At this week's average 30-year rate of 7.11%, buying the median Fifty Lakes home of $457,300 with 20% down costs about $2,873 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,634, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $123,111 for the 20%-down payment. That payment is 41% of the median Fifty Lakes household income of $84,615; at that income and 20% down, the 28% guideline points to a home of about $314,000.
| Down payment | $91,460 |
|---|---|
| Loan amount | $365,840 |
| Principal and interest | $2,461 |
| Property taxes (0.58% a year) | $221 |
| Homeowners insurance (our estimate, 0.5% a year) | $191 |
| PMI | $0 |
| Total per month | $2,873 |
Change the numbers in the calculator
| Down payment | $16,006 |
|---|---|
| Loan amount | $449,017 |
| Principal and interest | $3,021 |
| Property taxes (0.58% a year) | $221 |
| Homeowners insurance (our estimate, 0.5% a year) | $191 |
| FHA mortgage insurance | $202 |
| Total per month | $3,634 |
Change the numbers in the calculator
Questions about home buying in Fifty Lakes
What is the median home value in Fifty Lakes?
About $457,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Fifty Lakes?
Homeowners pay a median $2,675 a year, which is about 0.58% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Fifty Lakes?
For the median home with 20% down at 7.11%, the payment is about $2,873 a month. Keeping that under 28% of gross income takes about $123,111 a year.
More about Fifty Lakes
- Mortgage Refinance in Fifty Lakes
- Debt Relief in Fifty Lakes
- Home Equity Loans in Fifty Lakes
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data