Why Live in Gem Lake
Gem Lake, a small city in Ramsey County, spans just over a square mile and is characterized by its unique architecture, scenic views, and the popular Gem Lake Hills Golf Course. The neighborhood is heavily wooded, providing secluded residential lots with homes ranging from $300,000 to $1 million. The golf course, featuring two nine-hole courses, is a local favorite due to its accessibility and welcoming atmosphere for all skill levels. Historic homes, including a lodge and ranch-style houses from the 1920s, coexist with modern villas built in the 2010s. Although students commute to nearby White Bear Lake for schooling, the high school there is highly rated. Gem Lake itself, a 183-acre body of water, offers residents opportunities for kayaking, sightseeing, and fishing. Local attractions include the Black Sea Restaurant, known for Mediterranean and Turkish cuisine, and Sak's Sports Bar, which hosts live music and game nights. For shopping, Vadnais Square Shopping Center provides access to major retailers like Fresh Thyme Market, Walmart, Target, and Marshalls. While public transportation is limited, Highway 61 offers convenient routes to Saint Paul, 11 miles away, and downtown Minneapolis, 17 miles away.
Frequently Asked Questions
What is the average home price in Gem Lake, MN?
Homes for sale in Gem Lake, MN have an average home price of $435,000.
Are home prices dropping in Gem Lake?
Yes, home prices in Gem Lake are down 40% in the last 12 months.
How many homes have sold over the last 12 months in Gem Lake, MN?
1 home has sold in Gem Lake, MN over the last 12 months.
What are the most popular zip codes in Gem Lake, MN?
How much do you need to make to afford a house in Gem Lake?
The median home price in Gem Lake is $435,000. If you put a 20% down payment of $87,000 and had a 30-year fixed mortgage with an interest rate of 6.81%, your estimated principal and interest payment would be $2,270 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $97K a year to afford the median home price in Gem Lake.
How are the schools in Gem Lake, MN?
Home Trends in Gem Lake, MN
On average, homes in Gem Lake, MN sell after 51 days on the market compared to the national average of 50 days. The median sale price for homes in Gem Lake, MN over the last 12 months is $435,000, down 33% from the median home sale price over the previous 12 months.
Median Sale Price
$435,000
Median Single Family Sale Price
$435,000
Average Price Per Sq Ft
$168
Last 12 months Home Sales
1
Median List Price
$435,000
Median Change From 1st List Price
0%
Median Home Sale Price YoY Change
-33%