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Retirement Planning in Lake County, MN

What does it take to retire comfortably in Lake County? Here are the numbers.

Median Income

$73,860

Retirement Income (80%)

$59,088

Est. Nest Egg Needed

$830,925

Cost of Living Index

114

Retirement Income Analysis

Income Needs (Annual)

Target Income (80% rule)$59,088
Est. Social Security$25,851
Annual Income Gap$33,237

Housing Costs

Median Rent$837/mo
Annual Housing$10,044
Property Tax Rate0.8%
Median Home Value$200,900

About Lake County, Minnesota

Lake County in Minnesota has a median household income of $73,860 and a homeownership rate of 83.0%. Using the 4% rule, retirees in this county would need approximately $830,925 in savings to cover the gap between Social Security and their target retirement income.

These are estimates based on county-level medians. Your actual retirement needs depend on your specific income, expenses, healthcare costs, Social Security benefits, and investment portfolio. Use our calculator for a personalized Monte Carlo analysis.

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Other Counties in Minnesota

Hennepin CountyRamsey CountyDakota CountyAnoka CountyWashington CountySt. Louis CountyOlmsted CountyStearns County

County-level data from U.S. Census Bureau American Community Survey (ACS) 2022 5-Year Estimates. Additional sources: SSA, BLS. Estimates based on county-level medians and the 4% withdrawal rule. This is not financial advice.