Prior Lake, MN
- Overview
- Performance
- Listings
- Buy Box
Key Performance Metrics
Market snapshotPerformance indicators for the Prior Lake short-term rental market based on reliable data.
Listings
7 / 33
Reliable / Active
Cap Rate
5%
Middle-Earners Gross Yield
Revenue
$23,462
Middle-Earners Revenue
Occupancy
65%
Middle-Earners Occupancy
Home Value
$511,364
Median Home Sale Price
Top Earners
$47,973
Top-Earners Revenue
Prior Lake
Market Revenue Seasonality
Top Listings
Highest revenueThe highest-performing listings in Prior Lake.
Loading top listings...
Challenging to Investors
Prior Lake Regulations
Strict prohibition of sub‑60‑day rentals in residential districts forces investors into a 60–180 day mid‑term niche, eliminating the primary short‑term vacation‑rental demand. While the $250 permit and clear steps are moderate, the limited list of permitted properties and lack of clear cap/criteria create uncertainty and restrict scale, making compliance feasible but constraining profitability.
Local STR Agent
STR specialist · Prior Lake, MN
About Prior Lake
Prior Lake is an exurban city 20 miles (32 km) southwest of Minneapolis seated next to Savage and Shakopee in Scott County in the state of Minnesota. Surrounding the shores of Lower and Upper Prior Lake, the city lies south of the Minnesota River in an area known as RiverSouth and establishes the urban fringe of the south-southwest portion of Minneapolis-St. Paul, the sixteenth largest metropolitan area in the United States. The population was 27,617 at the 2020 census.Prior Lake was first incorporated as a village in 1891. Prior Lake is one of the oldest cities in the south metro area. The city's modern rapid growth is due in part to the ease of access for commuters to the rest of the region, via the upgraded State Highway 13.