As of 2024 the population of Forest Lake is 20,798. The population is expected to grow to 21,540 by 2029 - a growth rate of 0.70%.
The median age of Forest Lake residents is 40.
The diversity index of Forest Lake is 29.9, meaning that there is a 30% chance that any two people selected out of 100 residents will be of different race or ethnicity from one another.
The average household income in Forest Lake is $123,651 and projected to be $141,033 in 2029. Per capita income is $49,642, projected to be $57,203 in 2029. 5.26% of households – 1,093 – have an income of $200,000 or higher. Average net worth is $1,502,151 and the average disposable income is $89,076.
There are 8,775 housing units in Forest Lake; 5,860 are owner-occupied, 2,488 are rented, and 427 are vacant. The average home value is $486,284, with 991 homes built in 2010 or later, and 505 built in 1939 or earlier.
There are 730 businesses in Forest Lake, employing 9,349 workers and pulling from a labor force of 11,089 age 16 and above. 5,934 workers commute into Forest Lake from outside the county or state. Key industries for the area include:
4,961 residents both live and work in/around Forest Lake. The average travel time is 26.9 minutes. 8.43% people have a commute of less than 5 minutes while 2.48% commute 90 minutes or more each way. Of commuters, 8,492 drive alone, 676 carpool, and 178 take public transportation. 290 use other modes of transport such as motorcycle, bicycle, walking, etc. 1,453 residents work from home.
3,641 members of the workforce hold a high school diploma or GED. 1,733 have associates degrees, 3,738 have bachelor’s degrees, and 1,716 hold a graduate or professional degree.
