Lafayette, MN Profile: Facts & Data

The City of Lafayette had a population of 473 as of July 1, 2024. Lafayette ranks in the lower quartile for Diversity Index when compared to the other cities, towns and Census Designated Places (CDPs) in Minnesota. See peer rankings below.

The primary coordinate point for Lafayette is located at latitude 44.4466 and longitude -94.3953 in Nicollet County. The formal boundaries for the City of Lafayette encompass a land area of 1.15 sq. miles and a water area of 0 sq. miles. Nicollet County is in the Central time zone (GMT -6).

The City of Lafayette 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.

Lafayette, MN Data & Demographics (As of July 1, 2024)

POPULATION
Total Population	473 (100%)
Population in Households	473 (100.0%)
Population in Families	393 (83.1%)
Population in Group Quarters¹	0
Population Density	376
Diversity Index²	12


INCOME
Median Household Income	$91,632
Average Household Income	$99,900
% of Income for Mortgage⁴	21%
Per Capita Income	$43,086
Wealth Index⁵	85
Socioeconomic Status Index⁶	High (65.2)

HOUSING
Total HU (Housing Units)	230 (100%)
Owner Occupied HU	168 (73.0%)
Renter Occupied HU	36 (15.7%)
Vacant Housing Units	26 (11.3%)
Median Home Value	$310,526
Average Home Value	$332,738
Housing Affordability Index³	113

HOUSEHOLDS
Total Households	204
Average Household Size	2.32
Family Households	141
Average Family Size	3.00

NOTES

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.
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 races 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.
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.
The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
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.
The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

Lafayette, MN - Peer Comparisons by Rank and Percentile

The table below compares Lafayette to the other 914 incorporated cities, towns and CDPs in Minnesota by rank and percentile using July 1, 2024 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.

GROWTH RATE / YEAR	2020-2024	2024-2029
Population	-0.92%	-0.25%
Households	-0.57%	-0.20%
Families		0.14%
Median Household Income		2.24%
Per Capita Income		2.84%
Owner Occupied HU		0.12%

Variable Description	Rank	Percentile
Total Population	# 515	44th
Population Density	# 570	38th
Median Household Income	# 240	74th
Housing Affordability Index	# 569	62nd
Per Capita Income	# 380	59th
Diversity Index	# 775	15th

Lafayette, MN Profile: Facts & Data

Lafayette, Minnesota - Basic Facts

Lafayette, MN Data & Demographics (As of July 1, 2024)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Lafayette, MN - Peer Comparisons by Rank and Percentile

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