Rents are right about where Forest Lake's 10-year trend predicts.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,573 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
Rent in Forest Lake is at its highest level since Zillow's records here began in February 2023.
Rent in Forest Lake changed +5.2% over the year to September 2026. Across the 53 Minnesota cities Zillow tracks, the typical change was +3.4%.
Rent has risen 8 months in a row, and rose in 10 of the last 12 months.
30% of the median household income ($92,944) is $2,324 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($2,200); a 4-bedroom is $2,460.
New Brighton, 15 miles away, rents for 11% less ($1,394/mo), about $2,100 a year in savings.
From Zillow's monthly rent index (ZORI) for Forest Lake. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Forest Lake, MN is majority owner-occupied, has a median income above the national average, 35.4% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Forest Lake, MN has changed in 5 years
The median rent in Forest Lake, MN stood at $1,351 in 2023 and currently runs about $1,573, reflecting a 16.4% increase over the period. Census figures show median household income at $92,944 today, compared with $87,753 five years earlier. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. The population has grown by 1.8% since 2021, moving from about 20,366 residents to roughly 20,729. The combined trend lines point to a market that has changed measurably from where it stood in early 2023.
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Can you afford rent in Forest Lake on your salary?
At $1,573/mo, how Forest Lake rent compares to typical pay (30% rule).
Forest Lake rent by bedroom count
Median rent for each apartment size in Forest Lake. Click any size for full breakdown.
Tips for renters in Forest Lake
Last updated: October 17, 2026
The median rent in Forest Lake is $1,573/mo as of October 2026. A studio apartment averages $1,190/mo while a 2-bedroom runs $1,650/mo. One-bedroom apartments average $1,350/mo and 3-bedroom units go for $2,200/mo.
At 20% of local median household income ($92,944/yr), Forest Lake ranks as affordable compared to the national benchmark of 30%. Rents have increased 5.2% over the past year.
Frequently asked questions
How much income do you need to rent in Forest Lake?
Is rent going up or down in Forest Lake?
How does Forest Lake rent compare to other cities in Minnesota?
Which nearby cities are cheaper to rent in than Forest Lake?
At $1,573/mo, rent takes ~20% of Forest Lake's median household income ($92,944/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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