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Places/MN/Lake
County profile

Lake

United States · GDP 2024
#2322 of 3,127 US counties by GDPbottom-decile growthmore diversified than 36% of counties
EA Place Score
——
methodology in progress
GDP 2024 (USD)
$564.7M
GDP growth
-15.4%
Jobs tracked
3,213
Employers
340
Avg. wage
$52.2k
Population
10,746
Labor & formation
Unemployment
4.1%
Median HH income
$75.5k±$4.7k
Business applications
114 · 2025

Public companies headquartered here

SEC EDGAR · FMP
CompanySectorRevenueEA

No public companies loaded for this state yet — universe expands with the full ingest.

HQ-based placement with total (global) headcount — local employment attribution needs firmographic data; the industry mix at right is measured county data (CBP).

Industry mix · employment
Manufacturing29%
Food & accommodation26%
Health care18%
Retail trade16%
Arts & recreation6%
Other services5%
share of top-6 sector employment · CBP 2023
Population & migration
Census PEP · 2020–2025
10,746
residents · 2025 · -1.6% since 2020
Income per capita $60.7k · BEA 2024
COMPONENTS OF CHANGE · 2021–2025
Domestic migration+196
International migration+0
Natural change−360

GDP trend

2019–2024 · nominal
$584.6M
2019
$536.8M
2020
$561.5M
2021
$599.1M
2022
$667.9M
2023
$564.7M
2024

Real estate & risk

FHFA · ACS · FEMA
Median home value
$241.3k±$10.3k
Median gross rent
$1.1k/mo±$57/mo
Vacancy rate
33.7%±2.2%
Affordability
4.6× wages
Residential permits
83 (7.7/1k pop)
FEMA risk score
33.9
HUD Fair Market Rent (2BR):$1.3k/mo · 2026
TOP PERILS · FEMA NRI
Strong wind 89Winter weather 83Cold wave 83
FHFA HOUSE PRICE INDEX · 2016–2025
247
2016
267
2017
277
2018
304
2019
303
2020
357
2021
415
2022
434
2023
457
2024
478
2025

Transport access

BTS · FAA · USACE
Nearest interstate
103.3 km
I-35
Nearest freight rail
11.5 km
PVTX
Nearest port
40.4 km
Silver Bay, MN
Nearest commercial airport
105.1 km
DULUTH INTL
Waterborne tonnage, host port(s) (CY2022):17,708,251 short tons/yr · Two Harbors, MN, Silver Bay, MN
Wage trend
BLS QCEW · 2019–2023
$52.2k
avg. annual pay · +18% since 2019
Similar US counties
nearest by GDP
Stone$565.2MLake$564.0MRoberts$563.0MLee$566.6MCrawford$562.6MHampshire$562.6M
The read

Lake's economy produced $564.7M in 2024, contracting 15.4% year over year — among the slowest-growing US counties. Its largest employment sector is manufacturing.

GDP: BEA (2024), USD-normalized · Jobs/employers/wages & industry mix: Census CBP (2023) · Population & migration: Census PEP · Income: BEA CAINC1 · Companies: SEC EDGAR + FMP, by HQ.
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