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New Report Fall 2026 Housing Affordability Report: every state is less affordable than in late August as average 30-year mortgage rates passed 7%. Read the report

Gem Lake, MN Housing Affordability Index

Gem Lake, Minnesota has an MBR Housing Affordability Index score of 84.8 (Moderately Less Affordable) as of October 30, 2026, ranking 781st most affordable of 809 scored Minnesota cities, compared with 97.5 statewide and 97.4 nationally. On a median-priced $568,900 home with 20% down, the Minnesota average 30-year fixed rate of 7.27% means a monthly principal and interest payment of about $3,110, or 30% of the city’s $124,583 median household income.

The MBR Housing Affordability Index (MBR-HAI) for Gem Lake is updated every night from live Minnesota mortgage rates and U.S. Census Bureau income, home value and housing cost data for the city. A score of 100 equals the national average; higher scores mean homeownership is more affordable.

Gem Lake MBR-HAI 84.8 Moderately Less Affordable
Rank in Minnesota 781 of 809 1 = most affordable
Minnesota 97.5 Statewide score
National 97.4 100 = baseline
Avg 30-yr rate 7.27% Minnesota lenders
Median home value $568,900 U.S. Census Bureau

Gem Lake is 12.7 points below the Minnesota score. Scores as of October 30, 2026. See the Minnesota index

View Gem Lake Mortgage Rates

What It Takes to Buy in Gem Lake

$3,110/mo
Principal & Interest
Median home, 20% down, 7.27%
$133,300
Income Needed
To keep the payment at 28% of income
$124,583
Median Household Income
Minnesota: $89,062
4.6x
Price-to-Income Ratio
Minnesota: 3.7x
$1,829/mo
Median Owner Costs
Mortgage, taxes, insurance, utilities
$7,500/yr
Median Property Tax
1.32% of median value
32.5%
Owner Cost Burden
Owners spending 30%+ of income on housing
36.0%
Renter Cost Burden
Renters spending 30%+ of income on rent

Source: U.S. Census Bureau American Community Survey 5-Year Estimates (2024) for Gem Lake, Minnesota. The rate is the Minnesota average 30-year fixed rate from MonitorBankRates, since lenders publish rates by state.

Cite the Gem Lake Score

“MonitorBankRates (MBR) Housing Affordability Index, MonitorBankRates.com, October 30, 2026. Gem Lake, Minnesota score: 84.8 (Moderately Less Affordable), ranked 781 of 809 Minnesota cities. monitorbankrates.com/housing-affordability-index/minnesota/gem-lake”