Lake George, MN Profile: Facts & Data

The Lake George CDP⁽¹⁾ had a population of 245 as of July 1, 2024. Lake George ranks in the lower quartile for Population Density when compared to the other cities, towns and Census Designated Places (CDPs) in Minnesota. See peer rankings below.

The primary coordinate point for Lake George is located at latitude 47.2005 and longitude -94.9936 in Hubbard County. The formal boundaries for the Lake George Census Designated Place encompass a land area of 4.48 sq. miles and a water area of 1.65 sq. miles. Hubbard County is in the Central time zone (GMT -6).

The Lake George Census Designated Place has a U1 Census Class Code which indicates a census designated place with an official federally recognized name. It also has a Functional Status Code of "S" which identifies a statistical entity.

A Census Designated Place (CDP) is a statistical counterpart to a self-governing (incorporated) place such as a city, town, or village. A CDP is not a legal entity and has no governmental functions.

Lake George, MN Data & Demographics (As of July 1, 2024)

POPULATION
Total Population	245 (100%)
Population in Households	245 (100.0%)
Population in Families	206 (84.1%)
Population in Group Quarters¹	0
Population Density	48
Diversity Index²	17


INCOME
Median Household Income	$84,835
Average Household Income	$105,337
% of Income for Mortgage⁴	26%
Per Capita Income	$49,874
Wealth Index⁵	112
Socioeconomic Status Index⁶	Moderate (58.1)

HOUSING
Total HU (Housing Units)	225 (100%)
Owner Occupied HU	103 (45.8%)
Renter Occupied HU	13 ( 5.8%)
Vacant Housing Units	109 (48.4%)
Median Home Value	$350,000
Average Home Value	$373,301
Housing Affordability Index³	97

HOUSEHOLDS
Total Households	116
Average Household Size	2.11
Family Households	83
Average Family Size	2.00

NOTES

Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.
The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

Lake George, MN - Peer Comparisons by Rank and Percentile

The table below compares Lake George to the other 914 incorporated cities, towns and CDPs in Minnesota by rank and percentile using July 1, 2024 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

GROWTH RATE / YEAR	2020-2024	2024-2029
Population	1.19%	0.08%
Households	0.20%	0.00%
Families		-0.24%
Median Household Income		0.95%
Per Capita Income		2.05%
Owner Occupied HU		1.14%

Variable Description	Rank	Percentile
Total Population	# 642	30th
Population Density	# 871	5th
Median Household Income	# 314	66th
Housing Affordability Index	# 398	44th
Per Capita Income	# 189	79th
Diversity Index	# 603	34th

Lake George, MN Profile: Facts & Data

Lake George, Minnesota - Basic Facts

Lake George, MN Data & Demographics (As of July 1, 2024)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Lake George, MN - Peer Comparisons by Rank and Percentile

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