As of 2025 the population of Forest Lake is 20,605. The population is expected to grow to 21,535 by 2030 - a growth rate of 0.89%.
The median age of Forest Lake residents is 40.
The diversity index of Forest Lake is 30.6, meaning that there is a 31% 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 $122,137 and projected to be $132,651 in 2030. Per capita income is $49,784, projected to be $54,881 in 2030. 5.52% of households – 1,138 – have an income of $200,000 or higher. Average net worth is $1,539,286 and the average disposable income is $89,334.
There are 8,805 housing units in Forest Lake; 5,913 are owner-occupied, 2,483 are rented, and 409 are vacant. The average home value is $493,909, with 1,199 homes built in 2010 or later, and 588 built in 1939 or earlier.
There are 747 businesses in Forest Lake, employing 8,843 workers and pulling from a labor force of 10,894 age 16 and above. 5,320 workers commute into Forest Lake from outside the county or state. Key industries for the area include:
5,410 residents both live and work in/around Forest Lake. The average travel time is 25.4 minutes. 9.39% people have a commute of less than 5 minutes while 1.44% commute 90 minutes or more each way. Of commuters, 7,954 drive alone, 825 carpool, and 2 take public transportation. 358 use other modes of transport such as motorcycle, bicycle, walking, etc. 1,755 residents work from home.
3,666 members of the workforce hold a high school diploma or GED. 1,776 have associates degrees, 3,671 have bachelor’s degrees, and 1,552 hold a graduate or professional degree.
