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EconPulse

Local economy signal dashboard

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PLACEThriving

Big Lake, MN

Thriving overall. Population is the clearest support signal, while jobs needs the most attention. Housing reads as affordable for a median-income household.

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Overall score74out of 100
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83
26
100
98
97

Population

378

Data freshness

Unknown

GDP / Output

+6.4% YoY

83

$1.9B

Output changed +6.4% in 2024.

Vintage date unknown

State growth5.1%
U.S. growth5.3%

Jobs

Unemployment rate

26

6.7%

Unemployment is 6.7% for Latest available.

Vintage date unknown

State avg4.1%
U.S. avg5.2%

Population

+8.9% 5-year

100

378

Population moved +8.9% over the latest ACS window.

Vintage date unknown

State population5,739,445
U.S. population334,922,499

Housing

Rent share of income

98

1.3%

Median rent consumes 1.3% of median household income: Affordable.

Vintage date unknown

State rent$1.3K
U.S. rent$1.4K
HUD_API_TOKEN missing; ACS median gross rent is used as the housing affordability fallback.

Federal Funds

$7.8K per resident

97

$281.0M

$281.0M in federal obligations flowed here in FY2025.

Vintage date unknown

State total$242.1B
U.S. total$5.3T

Population and output

Trend Snapshot

Reported share

Industry Breakdown

FY2025

Federal Money

Federal obligations

$281.0M

$7.8K per resident in reported federal flow.

Top agencies

Dollars
1. Social Security Administration$201.2M
2. Department of Veterans Affairs$30.2M
3. Department of the Interior$9.1M

Top recipients

Dollars
1. FOND DU LAC RESERVATION$22.9M
2. FOND DU LAC TRIBAL AND COMMUNITY COLLEGE$5.7M
3. J. F. BRENNAN COMPANY, INC.$3.3M

Affordable

Housing Affordability

1.3%

of median income

1BR estimate$81
2BR estimate$107
Median income$92,500
Median home value$256,800

ACS context

Quick Facts

Population

378

Median age

42.8

Bachelor's degree+

20.6%

Poverty rate

12.7%

Labor force participation

55.8%

Prime rate

6.8%

CPI YoY

+3.2%

U.S. GDP YoY

+6.5%

Sources and warnings

Data Provenance

Census ACS 5-year

2024

BLS LAUS / CPS

Latest available

BEA regional CAGDP1

2024

USAspending

FY2025

FRED

2026-07-30

HUD Fair Market Rent

Latest available

Data notes
  • HUD_API_TOKEN missing; ACS median gross rent is used as the housing affordability fallback.

5-year compound growth

Historical Trends

Population CAGR

+1.7%

GDP CAGR

+6.1%

Federal flow

5 years

Population (5 years)
2020347
2021337
2022383
2023351
2024378
GDP (5 years)
2020$1.4B
2021$1.6B
2022$1.7B
2023$1.8B
2024$1.9B

2-year linear forecast

Predictive Outlook

Population forecast

2024378
2025382 *
2026390 *

R² = 35.5% · * projected

GDP forecast

2024$1.9B
2025$2.0B *
2026$2.2B *

R² = 95.5% · * projected

Linear regression over available historical data. Projections are estimates based on past trends and do not account for policy changes, economic shocks, or other external factors.

housing affordability breakdown

Cost of Living

Median household income$92,500/yr
Median rent$99/mo
Rent share of income1.3%
Est. mortgage (30yr, 6.5%)$15,582/yr
Mortgage share of income16.8%

Rent data from Census ACS 5-year. Mortgage estimate assumes 20% down, 6.5% APR, 30-year fixed.

employment snapshot

Job Market

Unemployment rate6.7%
State avg4.1%
U.S. avg5.2%
Labor force participation55.8%
Poverty rate12.7%

Data from BLS LAUS / CPS. Latest available.

valuation snapshot

Real Estate

Median home value$256,800
Median monthly rent$99
Price-to-rent ratio216.2x

High price-to-rent ratio — renting may be more economical than buying in this market.

composite score

Investment Climate

Investment climateStrong
Composite score70/100
Economic growth83/100
Labor market26/100
Population momentum100/100
Overall stability74/100

Composite score weighs economic growth, labor market health, population momentum, and overall stability. Not financial advice.

Location Context

Big Lake CDP, Minnesota

City/Town

Part of

Duluth, MN-WI

Nearby locations

Cloquet, MNMahnomen, MNScanlon, MNCarlton, MNMahtowa, MN