Prior Lake pairs some of the metro's most popular recreational lakes with newer construction and a growing collection of 55+ communities. Combined with Scott County's lower property tax rates, it's an increasingly popular retirement landing spot.
The Prior Lake housing market
Median home values in Prior Lake run in the mid-$400s, with lakefront and executive homes on Lower and Upper Prior Lake pushing well past $1M. Scott County property taxes are among the lowest in the metro.
Reverse mortgages in Prior Lake
Prior Lake homeowners often combine a HECM for Purchase with the sale of a larger family home elsewhere in the metro, buying into a Prior Lake single-level or association home with no future mortgage payment.
For the statewide rules, counseling requirements and 2026 lending limits, read the Minnesota reverse mortgage guide, or see the Scott County reverse mortgage guide. New to the program? Start with what is a reverse mortgage.
Neighborhoods
- Lakefront
- The Wilds
- Jeffers Pond
- Fish Point
- Northwood
Loan options for Prior Lake
- Reverse Mortgage (HECM)
- Jumbo Reverse
- HECM for Purchase
- Conventional & Jumbo
- VA & FHA
- Refinance
Attractions & landmarks
- Lower & Upper Prior Lake
- Sand Point Beach
- Cleary Lake Regional Park
- The Wilds Golf Club
- Mystic Lake (nearby)
Schools
Prior Lake–Savage Area Schools (ISD 719), consistently well-rated and a driver of family demand.