Prior Lake, Minnesota Demographics & Population 2026
During the 2020–2024 ACS period, Prior Lake, Minnesota had a total population of 28,016, the 36th largest city in Minnesota, with a median household income of $134,255, which is 51% higher than the state average. The poverty rate is 3.1%.
Data vintage: U.S. Census Bureau ACS 2020–2024 5-Year Estimates · refreshed July 2026 · Methodology & source notes
Key Takeaways
- Household income is 51% above the state average — one of the wealthiest communities in Minnesota.
- An exceptionally low poverty rate of 3.1% — among the lowest in Minnesota.
- 52.4% of adults hold a bachelor's degree or higher — top 10% in Minnesota.
- Near full employment with an unemployment rate of just 1.5%.
Prior Lake Quick Facts
How Prior Lake Changed
Change from the 2019–2023 ACS period to 2020–2024. These are rolling five-year estimates, not year-over-year measurements.
| Metric | 2019–2023 | 2020–2024 | Change |
|---|---|---|---|
| Population | 27,832 | 28,016 | +0.7% |
| Median household income | $130,278 | $134,255 | +3.1% |
| Median home value | $429,900 | $450,700 | +4.8% |
How Prior Lake Compares
Median Household Income
Median Home Value
Economy & Housing
Household Income Distribution
Detailed income brackets
Employment
Housing Overview
People & Demographics
Age Distribution
Race & Ethnicity
Diversity Index
A less diverse community where one racial or ethnic group represents a large majority.
State average: 41 | National average: 61
Education
Educational Attainment (Adults 25+)
Prior Lake Rankings in Minnesota
Explore Minnesota Rankings
Other Cities in Scott County
| City | Population | Median Income | Poverty | Home Value |
|---|---|---|---|---|
| Shakopee | 46,012 | $107,223 | 5.9% | $374,800 |
| Savage | 32,889 | $125,513 | 5.8% | $432,300 |
| New Prague | 8,237 | $94,539 | 3.2% | $350,500 |
| Belle Plaine | 7,423 | $99,315 | 2.7% | $318,200 |
| Jordan | 6,771 | $110,057 | 5.5% | $336,200 |
| Elko New Market | 5,002 | $152,150 | 1.1% | $433,100 |
Cities Similar to Prior Lake
These cities in the same state have comparable population and economic profiles.
| City | Population | Median Income | Home Value | Bachelor's+ | Poverty |
|---|---|---|---|---|---|
| Rosemount | 27,562 | $129,625 | $424,100 | 51.6% | 3.0% |
| Ramsey | 28,421 | $116,415 | $359,600 | 34.4% | 4.1% |
| Chanhassen | 26,006 | $143,651 | $566,300 | 64.1% | 2.9% |
| Chaska | 28,706 | $110,956 | $404,700 | 46.6% | 5.8% |
| Elk River | 26,793 | $108,741 | $370,100 | 33.8% | 3.4% |
Population Overview
Prior Lake is a mid-sized community located in Minnesota, within Scott County. The total population is 28,016. It ranks as the 36th most populous out of 914 Census-designated places in Minnesota.
Age Demographics
The median age in Prior Lake is 39.6 years. This is 2% higher than the state median of 38.8 years.
Economy, Income & Housing
The median household income in Prior Lake is $134,255. This is 51% higher than the state median of $89,062. It is also 66% higher than the national median of $80,734. The poverty rate stands at 3.1%. This is 66% lower than the state poverty rate of 9.3%. This exceptionally low poverty rate indicates strong economic prosperity across the community. The unemployment rate is 1.5%. This is 62% lower than the state rate of 4.1%. The median home value is $450,700. Housing costs are 37% higher than the state median of $329,300. The home-value-to-income ratio is 3.4x. 86.2% of occupied housing units are owner-occupied. This homeownership rate is 19% higher than the state average of 72.2%.
Race & Ethnicity
The largest racial or ethnic group in Prior Lake is White (non-Hispanic), making up 79.2% of the population. Hispanic or Latino residents account for 5.8%. The Black or African American population (2.2%) is well below the state average of 7.0%.
Education
52.4% of residents aged 25 and older hold a bachelor's degree or higher. This places Prior Lake in the top 10% of all cities in the state for educational attainment. This is 33% higher than the state rate of 39.4%. Nationally, 35.7% of adults hold at least a bachelor's degree. The high school graduation rate (or equivalent) is 96.2%. Notably, 15.1% of adults hold a graduate or professional degree, indicating a highly educated workforce.
Data Sources & Methodology
All demographic data for Prior Lake, Minnesota is sourced from the U.S. Census Bureau's American Community Survey (ACS) 2020–2024 5-Year Estimates. The ACS collects data from approximately 3.5 million households annually and pools five years of responses so that even small communities can be measured, though the margin of error widens as the population falls. Comparisons are made against Minnesota state averages and national averages calculated from the same dataset. Rankings reflect the city's position among all 914 Census-designated places in Minnesota. Read more about how these figures are produced on our methodology page, or visit data.census.gov for official data.
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Frequently Asked Questions
What is the population of Prior Lake, Minnesota?
Prior Lake, Minnesota has a population of 28,016 according to the most recent U.S. Census ACS 5-Year Estimates.
What is the median household income in Prior Lake, MN?
The median household income in Prior Lake is $134,255, which is 66% higher than the national median of $80,734.
What is the poverty rate in Prior Lake, MN?
The poverty rate in Prior Lake is 3.1%. This means approximately 870 residents live below the federal poverty line.
What is the racial makeup of Prior Lake, Minnesota?
Prior Lake's population is 79.2% White, 2.2% Black, 5.8% Hispanic/Latino, and 5.5% Asian.
What is the median home value in Prior Lake, MN?
The median home value in Prior Lake is $450,700. The home-value-to-income ratio is 3.4x.
How educated is Prior Lake, Minnesota?
52.4% of adults (25+) in Prior Lake hold a bachelor's degree or higher, and 15.1% hold a graduate or professional degree.