Foreclosure Homes in Gem Lake, MN

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Top Reasons To Live In Gem Lake, MN In 2024

Gem Lake is located in Ramsey, Minnesota, with an estimated municipal population of 500 residents. All of the best foreclosed homes for sale in Gem Lake are located in the following zip code areas on 55110. The estimated population per square kilometer (.62 miles) in Gem Lake is 184.

Cost Of Living In Gem Lake, MN

So, about how much do homes cost in Gem Lake? The most recent median value of resident-owned homes in Gem Lake is 329,694. An estimated 91.2 percent of households in Gem Lake own their homes, with an average family size of 3.38. The median household income in Gem Lake is 124,844, with60.8 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Gem Lake, the median commute time of resident workers (in minutes) is 26.4. And last, but certainly not least, are you looking for homes to rent in Gem Lake? If so, the average rent price paid by renters in Gem Lake is 1,536, according to recent statistics.

Diversity And Demographics In Gem Lake, Minnesota

Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Gem Lake, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.

The median age of residents in Gem Lake is 36.6, split between 44.6 percent male versus 55.4 female. The percentage of residents who report being married in Gem Lake is 67.4, with an average family size of 3.38.

The percentage of residents who report their race in Gem Lake is as follows:

White 96.6%
Black / African American 0.4%
Asian 2.1%
American Indian / Alaskan Native 0%
Native Hawaiian / Other Pacifc Islander 0%
Multi-racial 0.9%
Other 0%

Looking for family-friendly neighborhoods in and/or near Gem Lake? Or maybe you are searching for 55+ active adult communities in and/or near Gem Lake?

The percentage of residents who report their age in Gem Lake is as follows:

Under 10 21.9%
Aged 10-19 9.9%
20s 7.9%
30s 18%
40s 10%
50s 9.7%
60s 13.2%
70s 6.2%
80+ 3.2%

Best Schools In Gem Lake, Minnesota

It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Gem Lake with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Gem Lake.

Pros And Cons Of Living In Gem Lake, Minnesota

How do you know that living in -- or moving to -- Gem Lake is right where you need to be? Perhaps you grew up in Gem Lake or already live nearby; therefore, the decision to buy a home in Gem Lake is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Gem Lake for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.

Here are some questions to ask yourself when shopping for foreclosed homes for sale in Gem Lake:

  • What type of neighborhood environment (suburban, urban, rural, etc.) do you prefer?
  • What types of shopping (mom and pop, mall, big box), restaurants (fast food, chain, local) and businesses (small, big, mixed) would you like nearby?
  • What leisure-time activities (golf, biking, hiking, etc.) do you enjoy?
  • What type of commute (car, plane, home office) do you seek?

In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Gem Lake.

Reasons To Move To Gem Lake, Minnesota, In 2024

Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Gem Lake can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Gem Lake, meanwhile, can field multiple offers from more qualified buyers.

Gem Lake, MN Foreclosures


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