Lakefield city, Minnesota demographics and economy

Census American Community Survey 2023 5-Year Estimates for Lakefield city, Minnesota.

Population
1,652
Median HH Income
$62,656
Median Home Value
$115,900
Median Age
43.9

Workforce

Unemployment rate
0.5%
4 unemployed of 846 in labor force
Bachelor's degree or higher
13.5%
of population age 25+ (1,184 total)
Below poverty line
9.8%
157 of 1,603 surveyed

Housing & cost of living

Median home value
$115,900
owner-occupied housing units
Median gross rent
$867/mo
renter-occupied units, all bedrooms

Related resources

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Market size estimator
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Similar-sized Minnesota places

Data source: U.S. Census Bureau American Community Survey 2023 5-Year Estimates (Table B). Geography: place (incorporated city/town/CDP). Public domain (USA.gov).

Indicators: B01003 (population), B19013 (median household income), B25077 (median home value), B01002 (median age), B25064 (median gross rent), B23025 (labor force/unemployment), B15003 (educational attainment), B17001 (poverty).

Generated 2026-05-27. Census applies suppression rules to small populations; some values may be unavailable.