Minnesota · Census place 34316
Lakefield city, MN
Quick answer
Lakefield city has 1,652 residents, ranking #292 of 914 places in Minnesota. Median household income is $62,656, the median home is worth $115,900 and median gross rent runs $867 a month.
- Population
- 1,652Lakefield city residents
- Median household income
- $62,656Past 12 months, inflation adjusted
- Median home value
- $115,900Owner-occupied units
- Median gross rent
- $867Rent plus utilities, monthly
- Median age
- 43.9 yrsAll residents
- Homeownership rate
- 87.9%Owner-occupied households
What the numbers mean in Lakefield city
Housing cost measured against local earnings.
A household earning the Lakefield city median would spend about 16.6% of gross income on the median rent. The 30% mark is the federal threshold for cost burden, so anything above it signals a stretched rental market. The median home costs 1.8× the median household income; nationally that ratio sits near 4.5×. Poverty affects 9.8% of residents and 87.9% of households own their home.
Source: US Census Bureau, ACS 2019-2023 5-year estimates · rates as published for 2019-2023 ACS 5-year
Compare with nearby places
Places of similar size in Minnesota.
- Osakis city 1,667
- Hinckley city 1,665
- Oronoco city 1,665
- Warren city 1,637
- St. John's University CDP 1,615
- Frazee city 1,595
- Pierz city 1,581
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