Lakefield, MN Profile: Facts & Data

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Lakefield, Minnesota - Basic Facts

The City of Lakefield had a population of 1,681 as of July 1, 2019. Lakefield ranks in the upper quartile for Population Density when compared to the other cities, towns and Census Designated Places (CDPs) in Minnesota. See peer rankings below.

The primary coordinate point for Lakefield is located at latitude 43.6775 and longitude -95.1717 in Jackson County. The formal boundaries for the City of Lakefield encompass a land area of 1.28 sq. miles and a water area of 0 sq. miles. Jackson County is in the Central time zone (GMT -6). The elevation is 1,483 feet.

The City of Lakefield (GNIS ID: 2395608) has a C5 Census Class Code which indicates an active incorporated place that is independent of any county subdivision and serves as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

Alternate Unofficial Names for Lakefield: City of Lakefield.

Jump to... (On This Page!)
  1. Lakefield 2019 Demographic Data
  2. Growth Rates for Lakefield (Historical & 5-Year Forecast)
  3. Peer Comparisons (Rank and Percentile)
  1. Neighborhoods Demographics (Home Values, Household Income, etc.)
  2. Minnesota Research Tools (Easy Tools & Current Data)
  3. Minnesota Data Comparison Tool - 2019 Demographics

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Boundary Maps, Demographic Data, School Zones Review maps and data for the neighborhood, city, county, ZIP Code, and school zone. July 1, 2019, data includes home values, household income, percentage of homes owned, rented or vacant, etc.


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Lakefield, MN Data & Demographics (As of July 1, 2019)

HOUSING AFFORDABILITY INDEX

Lakefield, MN Housing Affordability Index is 263
State of Minnesota Housing Affordability Index is 135
The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.

WEALTH INDEX

Lakefield, MN Wealth Index is 60
State of Minnesota Wealth Index is 112
The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.

These new demographic attributes are availiable for Neighborhoods, Cities, Counties, and ZIP Codes.

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  1. For information about schools and school attendance zones, use the HTL Address Tool
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  3. The new 2-Minute Introduction and Concise Guide to Big Data which will help you make the most effective use of HomeTownLocator Tools.
  4. See the References & Data Sources page for more information about methodology and sources of data.
  5. See the Minnesota COVID-19 Data and US COVID-19 Data for more information on the spread of the novel coronavirus.

POPULATION

Total Population 1,681 (100%)
Population in Households 1,650 (98.2%)
Population in Families 1,274 (75.8%)
Population in Group Quarters1 31 ( 1.8%)
Population Density 1,256
Diversity Index2 14
 

INCOME

Median Household Income $50,734
Average Household Income $61,800
Per Capita Income $27,540
Wealth Index4 60

HOUSING

Total Housing Units 838 (100%)
Owner Occupied HU 590 (70.4%)
Renter Occupied HU 159 (19.0%)
Vacant Housing Units 88 (10.5%)
Median Home Value $96,659
Housing Affordability Index3 263
 

HOUSEHOLDS

Total Households 750
Average Household Size 2.2
Family Households 449
Average Family Size 3
NOTES
  1. Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
  2. The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different race or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
  3. The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
  4. The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.

GROWTH RATE / YEAR

2010-2019 2019-2024
Population -0.12% -0.11%
Households -0.21% -0.21%
Families -0.38% -0.31%
Median Household Income   1.35%
Per Capita Income   1.86%

Lakefield, MN - Peer Comparisons by Rank and Percentile

The table below compares Lakefield to the other 903 incorporated cities, towns and CDPs in Minnesota by rank and percentile using July 1, 2019 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description Rank Percentile
Total Population # 288 68th
Population Density # 197 78th
Diversity Index # 488 46th
Median Household Income # 692 23rd
Per Capita Income # 643 29th

Additional comparisons and rankings can be made with a VERY EASY TO USE Minnesota Census Data Comparison Tool.

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