Why Live in Diamond Lake
Diamond Lake, located in Nokomis County, is a neighborhood 6 miles south of Minneapolis, featuring distinct homes with lakefront views. The area is defined by its proximity to Diamond Lake and Lake Nokomis, which offer both natural beauty and recreational opportunities. Diamond Lake Park provides a serene environment with wooded trails and wildlife, while Lake Nokomis Park is fully recreational, featuring fishing piers, concession stands, and boating rentals. The neighborhood's homes, built mainly between the 1930s and 1960s, include aesthetically pleasing old Tudor homes, Minimal Traditional, Victorians, Colonials, and well-manicured cottages. These properties range from $250,000 to $1 million, with lakefront homes commanding higher prices. Interstate 35W borders the west side, facilitating commutes to nearby cities.
Though there are no K-12 schools within Diamond Lake, nearby options include Wenonah Elementary, Hennepin Middle School, and Roosevelt High School, which offers an IB program, Spanish Dual Language program, and Advanced Placement courses. The neighborhood features dining options like the 5-8 Club, known for its Jucy Lucy burger, and grocery shopping at Cub supermarket across the highway. Diamond Lake is part of the HPDL Diamond Lake Community Association, which hosts events such as Earth Day Clean Up, Frost Fest, and the Neighborhood Garage Sale. The area has a low crime risk compared to the national average, making it a safer place to live.
Frequently Asked Questions
Is Diamond Lake a good place to live?
Diamond Lake is a good place to live, receiving 4.2 stars from its residents. Diamond Lake is considered somewhat walkable and very bikeable with some transit options. Diamond Lake has 6 parks for recreational activities. It is somewhat dense in population with 7.1 people per acre and a median age of 41. The average household income is $161,143 which is above the national average. College graduates make up 64.5% of residents. A majority of residents in Diamond Lake are home owners, with 13% of residents renting and 87% of residents owning their home. A
local real estate agent serving Diamond Lake can help you decide if this neighborhood is the right one for you. Learn more on our
Diamond Lake neighborhood guide.
Is Diamond Lake, MN a safe neighborhood?
Diamond Lake, MN is safer than the average neighborhood in the United States. It received a crime score of 3 out of 10.
How much do you need to make to afford a house in Diamond Lake?
The median home price in Diamond Lake is $420,000. If you put a 20% down payment of $84,000 and had a 30-year fixed mortgage with an interest rate of 6.74%, your estimated principal and interest payment would be $2,180 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $93K a year to afford the median home price in Diamond Lake. The average household income in Diamond Lake is $161K.
What are the best public schools in Diamond Lake?
The best public schools that serve Diamond Lake are:
What are the best private schools in Diamond Lake?
The best private schools that serve Diamond Lake are:
- Our Lady Of Peace has an A+ Niche grade, a student teacher ratio of 11:1 and an average review score of 5.0.
- Annunciation Catholic School has an A+ Niche grade, a student teacher ratio of 13:1 and an average review score of 4.3.
- Academy Of Holy Angels has an A Niche grade, a student teacher ratio of 12:1 and an average review score of 4.3.
What are the most popular zip codes in Diamond Lake, Minneapolis, MN?
What are the most popular neighborhoods near Diamond Lake, Minneapolis, MN?
Are home prices dropping in Diamond Lake?
Yes, home prices in Diamond Lake are down 71% in the last 12 months.
Home Trends in Diamond Lake, MN
On average, homes in Diamond Lake, Minneapolis sell after 34 days on the market compared to the national average of 70 days. The median sale price for homes in Diamond Lake, Minneapolis over the last 12 months is $365,000, down 82% from the median home sale price over the previous 12 months.
Median Sale Price
$365,000
Median Single Family Sale Price
$365,000
Average Price Per Sq Ft
$187
Number of Homes for Sale
0
Last 12 months Home Sales
7
Median List Price
$420,000
Median Change From 1st List Price
0%
Median Home Sale Price YoY Change
-82%