Prior Lake is a medium-sized city located in the state of Minnesota. With a population of 28,027 people and seven associated neighborhoods, Prior Lake is the 36th largest community in Minnesota. Much of the housing stock in Prior Lake was built relatively recently. The construction of new real estate can often be taken as an indication that the local Prior Lake economy is robust, and that jobs or other amenities are attracting an influx of new residents. This seems to be the case in Prior Lake, where the median household income is $130,278.00.

Prior Lake real estate is some of the most expensive in Minnesota, although Prior Lake house values don't compare to the most expensive real estate in the U.S.

Also of interest is that Prior Lake has more people living here who work in computers and math than 95% of the places in the US.

A relatively large number of people in Prior Lake telecommute to their jobs. Overall, about 21.97% of the workforce works from home. While this may seem like a small number, as a fraction of the total workforce it ranks among the highest in the country. These workers are often telecommuters who work in knowledge-based, white-collar professions. For example, Silicon Valley has large numbers of people who telecommute. Other at-home workers may be self-employed people who operate small businesses out of their homes.

Because of many things, Prior Lake is a very good place for families to consider. With an enviable combination of good schools, low crime, college-educated neighbors who tend to support education because of their own experiences, and a high rate of home ownership in predominantly single-family properties, Prior Lake really has some of the features that families look for when choosing a good community to raise children. Is Prior Lake perfect? Of course not, and if you like frenetic nightlife, it will be far from your cup of tea. But overall this is a solid community, with many things to recommend it as a family-friendly place to live.

If knowledge is power, Prior Lake is a pretty powerful place. 51.49% of the adults in Prior Lake have earned a 4-year college degree, masters degree, MD, law degree, or even PhD. Compare that to the national average of 21.84% for all cities and towns.

The per capita income in Prior Lake in 2022 was $63,391, which is wealthy relative to Minnesota and the nation. This equates to an annual income of $253,564 for a family of four.

Prior Lake is a somewhat ethnically-diverse city. The people who call Prior Lake home describe themselves as belonging to a variety of racial and ethnic groups. The greatest number of Prior Lake residents report their race to be White, followed by Asian. Important ancestries of people in Prior Lake include German, Norwegian, Irish, English, and Polish.

The most common language spoken in Prior Lake is English. Other important languages spoken here include Spanish and Slavic languages.