1st Advantage MortgageLake of the Woods County households have a median income of $77,546 and median rent of $955 a month (ACS 2020 to 2024). A loan makes sense only if its total cost beats your alternatives and the payment fits your budget. Check the lender's Minnesota license first.
On this page
- Lake of the Woods County, MN: the basics
- Renting and owning in Lake of the Woods County
- How much Lake of the Woods County households make
- Employment and commuting in Lake of the Woods County
- Lake of the Woods County towns compared
- How Lake of the Woods County compares with nearby counties
- Budget math at the Lake of the Woods County median
- People and households in Lake of the Woods County
- Local borrowing considerations for Lake of the Woods County
- Steps before you apply in Lake of the Woods County
- Minnesota rules that apply in Lake of the Woods County
- More guides for Lake of the Woods County
- Frequently asked questions
Lake of the Woods County, MN: the basics
Roughly 3,821 residents live in Lake of the Woods County, Minnesota, 86th by population among the state's 87 counties and county equivalents. Land area is 1,298 square miles (2024 Gazetteer), so density runs near 3 per square mile. Under the July 2023 OMB definitions, Lake of the Woods County is not part of any metropolitan area. Baudette is the biggest of its 4 Census places, at roughly 1,139 people (30% of the county total). Small populations mean wide margins of error, so read every Lake of the Woods County figure on this page as a rough guide.
Renting and owning in Lake of the Woods County
Renters in Lake of the Woods County pay a median of $955 a month, 25% below the Minnesota figure of $1,280. 52% of renting households spend 30% or more of income on rent, and 13% spend half or more. Home values center on $216,100, or 2.8 years of median income. The ownership rate is 82%. Median construction year: 1986.
| Measure | Lake of the Woods County | Minnesota | Median U.S. county |
|---|---|---|---|
| Median gross rent | $955/mo | $1,280/mo | $877/mo |
| Median home value | $216,100 | $329,300 | $185,300 |
| Owners | 82% | 72% | 75% |
| Rent-burdened renters | 52% | 48% | 45% |
| Burdened owners | 23% | 23% | n/a |
| Mobile homes | 26.4% | 2.9% | n/a |
Owners with equity have a second option. Weigh a secured line against an unsecured loan by risk as well as cost before you choose (how they compare). When half or more of renters are already stretched, a new payment needs a stress test: what happens if a paycheck is a week late?
How much Lake of the Woods County households make
The median household income in Lake of the Woods County is $77,546; statewide it is $89,062, so Lake of the Woods County runs 13% below Minnesota as a whole. In the state ranking that is 26th of 87.
| Households earning | Lake of the Woods County | +/- vs Minnesota |
|---|---|---|
| Under $35,000 | 22.5% | +5.1 pts |
| $35,000 to $99,999 | 40.8% | +2.7 pts |
| $100,000 to $199,999 | 25.1% | -5.7 pts |
| $200,000 or more | 11.7% | -2.2 pts |
Some 22% of households here live on less than $35,000 a year; 37% have six-figure incomes. The poverty rate is 6.4%, 3 points lower than the state's 9.3%. For a borrower in Lake of the Woods County, the county median is only context: a lender looks at the income you can document, so pay stubs, benefit letters or tax returns matter more than any average.
Employment and commuting in Lake of the Woods County
By the Census industry count, 27% of employed Lake of the Woods County residents work in manufacturing and 16% in education and health care. The sharpest difference from the state is in manufacturing, at 27% locally and 13% for Minnesota. Averaged over the five survey years, 1.5% of the labor force was out of work and looking. 8% of commuters travel 45 minutes or more each way, and 5% work from home.
| Industry (employed residents 16+) | Lake of the Woods County | Gap to Minnesota |
|---|---|---|
| Manufacturing | 27.1% | +13.7 pts |
| Education and health care | 15.8% | -10.0 pts |
| Public administration | 9.7% | +6.0 pts |
| Arts, lodging and food service | 9.4% | +2.2 pts |
| Transportation, warehousing and utilities | 7.5% | +2.5 pts |
| Retail trade | 7.4% | -3.3 pts |
A lender verifies what your own job pays. The county's industry mix tells you about the local economy, not about your application.
Lake of the Woods County towns compared
Here are the 4 most populous of the county's 4 Census places, with income and rent from the same 2020 to 2024 survey. About 40% of Lake of the Woods County residents live in one of the 4. Live in one of these Lake of the Woods County communities, or between them? This is your local guide.
| Community | Type | Residents | Household income (median) | Rent (median) | Distance |
|---|---|---|---|---|---|
| Baudette | city | 1,139 | $71,061 | $899 | 15 mi |
| Williams | city | 237 | n/a | n/a | 2 mi |
| Roosevelt | city | 150 | $68,036 | n/a | 9 mi |
| Angle Inlet | CDP | 0 | n/a | n/a | 41 mi |
How Lake of the Woods County compares with nearby counties
Distances run center to center, from Roseau County at 42 miles out to Red Lake County at 83. Income ranges from $66,940 in Koochiching County to $77,325 in Pennington County; none of these neighbors top Lake of the Woods County's median.
| Nearby county | Center to center | Household income | Gross rent | Owner-occupied |
|---|---|---|---|---|
| Lake of the Woods County | - | $77,546 | $955/mo | 82% |
| Roseau County, MN | 42 mi | $74,474 | $880/mo | 79% |
| Beltrami County, MN | 62 mi | $68,975 | $1,053/mo | 70% |
| Koochiching County, MN | 63 mi | $66,940 | $671/mo | 80% |
| Pennington County, MN | 71 mi | $77,325 | $862/mo | 72% |
| Marshall County, MN | 72 mi | $72,543 | $690/mo | 83% |
| Red Lake County, MN | 83 mi | $77,188 | $583/mo | 83% |
Budget math at the Lake of the Woods County median
Here is the Lake of the Woods County median household run through a simple DTI check. Your numbers will differ.
- Start: $6,462 gross per month ($77,546 / 12)
- Less median rent of $955, which is 15% of it
- $1,630: what a 40% ratio leaves once rent is paid
Subtract what you already pay on other debts. A new payment should fit in what remains, with some to spare.
People and households in Lake of the Woods County
Degree holders: 25% of adults over 25. 3.5% of residents have no health coverage.
| Indicator | Lake of the Woods County | All of Minnesota | U.S. county median |
|---|---|---|---|
| Median age | 50.7 | 38.8 | 41.5 |
| Bachelor's or higher | 25.4% | 39.4% | 22.2% |
| No high school diploma | 3.2% | 6.1% | n/a |
| No health insurance | 3.5% | 4.7% | 7.8% |
| No vehicle | 2.4% | 6.7% | 5.4% |
| Work from home | 5.4% | 17.6% | 8.7% |
| Poverty rate | 6.4% | 9.3% | 13.2% |
| Unemployment (ACS) | 1.5% | 4.1% | 4.4% |
| Minutes to work | Lake of the Woods County workers |
|---|---|
| Under 15 min | 55.2% |
| 15 to 29 min | 28.0% |
| 30 to 44 min | 9.0% |
| 45 to 59 min | 4.7% |
| 60+ min | 3.0% |
Local borrowing considerations for Lake of the Woods County
Based on the Lake of the Woods County data above, these borrowing questions are most likely to matter locally.
- Manufactured homes. 26% of Lake of the Woods County housing units are mobile homes, and their repairs are often paid with unsecured loans. Get the quote in writing.
- Older households. A 50.7 median age means fixed-income borrowing is common; a fixed payment and short term limit risk.
- Renters under pressure. When 52% pay 30% or more for rent, the smallest loan that solves the problem is the right size.
Steps before you apply in Lake of the Woods County
Before you apply, wherever you live in Lake of the Woods County:
- Write down what the expense costs; a smaller loan costs less.
- Ask each lender for the APR and all fees in writing.
- Confirm the lender is licensed in Minnesota.
- Ask about early-payoff penalties.
Minnesota rules that apply in Lake of the Woods County
The Minnesota Department of Commerce is the place to verify any lender's Minnesota license. Federal complaints: consumerfinance.gov. The Minnesota guide covers state rules in more detail.
More guides for Lake of the Woods County
The Minnesota guide covers the whole state.
Frequently asked questions
Is Lake of the Woods County a high-income county?
Its $77,546 median ranks 26th of 87 Minnesota counties and compares with $65,681 for the median U.S. county.
How does Lake of the Woods County rent compare with Minnesota?
$955 locally versus $1,280 for the state, 25% below.
Should Lake of the Woods County homeowners use home equity instead?
Maybe, but weigh the risk: 82% of Lake of the Woods County homes are owner-occupied, and a home-equity loan or line is secured by the house while a personal loan usually is not.
I live in a small Lake of the Woods County town. Is this my guide?
Yes. If your town has no city guide, this county page is the local one; it covers Baudette, Williams, Roosevelt, Angle Inlet.
Does my county matter to the questionnaire?
Only your state does. Whether you live in Lake of the Woods County or elsewhere in Minnesota, the same rules apply.