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Prior Lake Homes - Choosing Prior Lake Homes for Sale

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Prior Lake is a small city in Scott County, Minnesota. It is located 20 miles southwest of Minneapolis and is considered a suburb of the Twin Cities. The city is situated around the banks of both Upper and Lower Prior Lake in an area commonly referred to as “South of the River,” which is the southern border of the Minneapolis-St. Paul metro area. Prior Lake has grown tremendously in the past years and there is a large discrepancy in the population statistics. Depending on who you ask, the population in 2009 was anywhere from 23,000 to 25,220. The area of Prior Lake first became known to European fur trappers in 1725, although it would be over one hundred years later that a permanent settlement would spring up. In the early 1800s, the area would be fought over by European Americans and the native Sioux. In 1853, the county was officially formed and Prior Lake was incorporated as a village in 1891. Today, the city is still known for large Native American population and its proximity to the Shakopee-Mdewakanton Indian Reservation that have made the city simultaneously a haven for legal gambling and natural beauty.

In 2000, the population of the city was 15,917. This included 5,645 households occupying 5,791 total Prior Lake homes. The current housing market lists anywhere from 350 to 400 Prior Lake homes for sale at any single time. The median price of Prior Lake homes for sale is $255,020. This is down from a 2006 high of $342,000. Even though home values have decreased, there are very few foreclosures in the city. It is not unusual for foreclosure listings to be absolutely bare or contain only a single home. The price per square foot for homes in Prior Lake is $159.

The racial makeup of Prior Lake is not exceptionally diverse, but is on par with most of small-town Minnesota. 95% of residents are listed as white, 2% are Native American, 1% are African-American, and 1% are Latino or Hispanic. The city has deep family values, and 66% of all households are married couples. 22% of households are non-families. The city residents are primarily younger couples with children. A full 30% of residents are under the age of 18. 44% are 18 to 44 years of age, and 26% are 45 years and up. The median household income in the city is well above the U.S. average at $75,363.

The economy of Prior Lake is dependent upon the area casinos and the Twin Cities. Jobs in the Twin Cities are in manufacturing, health care, transportation, utilities, and education.

Residents in Prior Lake homes benefit from an excellent ground transportation system that includes State Route 13. SR-14 passes northeast-southwest through the length of the city and is said to be responsible for its rapid growth. Air transport is available at the Minneapolis-St. Paul International Airport, located 24 miles to the northeast.

Public Education is served by Prior Lake Savage Area Schools. The Prior Lake High School is actually located in the nearby town of Savage. There are two middle schools in Prior Lake and seven middle schools. The city is also home to St. Michael Catholic School, a private school serving grades Pre-K to 8.

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