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.

One interesting thing about the economy is that relatively large numbers of people worked from their home: 21.97% of the workforce. While this number may seem small overall, as a fraction of the total workforce this is high compared to the rest of the county. 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.

Prior Lake is a good choice for families with children because of several factors. Many other families with children live here, making it a place where both parents and children are more likely to develop social ties with other families. The city’s good public school district and large population of college-educated adults provide an environment conducive to academic success. Many people own their own single-family homes, providing areas for children to play and stability in the community. Finally, Prior Lake’s overall crime rate is lower than average for the country.

Do you like to read, write and learn? If you move to Prior Lake, you'll likely find that many of your neighbors like to as well. Prior Lake is one of the more educated communities in America, with a full 51.49% of its adults having a college degree or even advanced degree, compared to a national average across all communities of 21.84%.

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.