salaryRent is lower than in 69% of U.S. cities. That makes it a rare mix of above-average pay and below-average rent. A typical house costs about 3.4 years of household income. Most homes (93.7%) are owned, so rentals can be hard to find.
How much money do I need?
To rent here comfortably, you should earn about $51,880 a year. That is $25 an hour at a full-time job.
Is rent cheaper than other Minnesota cities?
Yes. Rent here is cheaper than in most of Minnesota. It is number 41 of 150 cities from cheapest to most expensive.
How much do households earn in Ham Lake?
Share of households by yearly income. 47.9% of households earn $100,000 or more.
Rent by apartment size in Ham Lake
| Size | Ham Lake | U.S. average |
|---|---|---|
| 1 bedroom | $985 | $1,324 |
| 2 bedrooms | $1,312 | $1,509 |
| 3 bedrooms | $1,505 | $1,698 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Ham Lake overall?
Everyday prices in Minnesota overall are 1% below the U.S. average (index 98.6, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Ham Lake, so the Minnesota figure is shown.
Taxes and bills in Ham Lake
Life in Ham Lake
Is it cheaper to rent or buy in Ham Lake?
Renting is cheaper right now: about $1,773 a month less.
Owning assumes a typical $442,500 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $44,250 for the down payment.
Frequently asked questions
What is the average rent in Ham Lake, MN?
Renting in Ham Lake costs a median of about $1,297 a month in 2026, including utilities. The Minnesota median is $1,525.
How much do I need to make to live in Ham Lake?
To keep rent under 30% of income, you need about $51,880 a year, or $25 an hour at a full-time job.
Is Ham Lake cheap or expensive?
Ham Lake is rated Cheap: rent takes 12.0% of the typical household income of $129,566. It ranks 41st cheapest of 150 Minnesota cities we track.
How much are property taxes in Ham Lake?
The median homeowner in Ham Lake pays $3,583 a year in property taxes, about 0.81% of the median home value.
Is Ham Lake more expensive than the national average?
Overall prices in Minnesota are 1% below the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Ham Lake?
The median home value in Ham Lake is $442,500, about 3.4 times the typical yearly household income.
16,702 people live in Ham Lake. Numbers are typical (middle) values.