Lakefield, MN demographics:
population, income, and more

Total population
1,507
-8.8% year-over-year change
Median household income
$71,648/yr
14.3% year-over-year change
Housing units
770
-6.3% year-over-year change

Lakefield population

How many people live in Lakefield

Lakefield is home to 1,507 residents, according to the most recent Census data. Gender-wise, 46.2% of Lakefield locals are male, and 53.8% are female.

Total population
1,507
-8.8% year-over-year change
Gender ratio
Male
46.2%
696
Female
53.8%
811
Value Percent YoY change
Male 696 46.2% -7.5%
Female 811 53.8% -9.9%
A higher population often means more rental variety and livelier areas. The gender balance—how many men live here compared to women—can reveal a lot about the community and the lifestyles of its residents. Use this info to get a sense of the area's pace and personality.

Age demographics

The median age in Lakefield is 43, with the population distributed as follows: about 17.2% are children under 15, then 10.3% are in the 15 to 24 age group. Adults between 25 and 44 make up 24.6% of the population, while another 18.6% fall into the 45 to 64 bracket. Finally, around 29.2% are 65 or older.

Median age
43.3
Age breakdown
Under 15
17.2%
15 to 24
10.3%
25 to 44
24.6%
45 to 64
18.6%
Over 65
29.2%
Value Percent YoY change
Under 15 260 17.2% -11.3%
15 to 24 155 10.3% -11.4%
25 to 44 371 24.6% -6.5%
45 to 64 281 18.6% -13.3%
Over 65 440 29.2% -5.0%
The age composition helps you get insight into who lives in the area. A younger population might mean a more active, fast-paced vibe, while an older one could suggest a quieter, slower lifestyle. If there's a balanced makeup, you’re likely to find a variety of services, housing types, and community spaces that cater to different life stages.

Racial makeup

In Lakefield, 97.4% of the population are US-born citizens, while 1.9% have gained naturalized citizenship. At the same time, 0.7% of residents are non-citizens. There’s also a share of 3.4% that includes residents with two or more races.

Citizenship
U.S.-born citizens
97.4%
Non-U.S.-born citizens
1.9%
Non-citizens
0.7%
Value Percent YoY change
U.S.-born citizens 1,468 97.4% -7.9%
Non-U.S.-born citizens 28 1.9% -24.3%
Non-citizens 11 0.7% -47.6%
Racial breakdown
White
95.9%
Black or African American
0%
American Indian and Alaska Native
0%
Asian
0.4%
Native Hawaiian and other Pacific Islander
0%
Two or more races
3.4%
Other
0.3%
Value Percent
White 1,445 95.9%
Asian 6 0.4%
Two or more races 52 3.4%
Other 4 0.3%

Households in Lakefield

A peek inside Lakefield households

Lakefield has 675 households, with an average of 2 members in each. Of these, 57.2% are families, while the remaining 42.8% are made up of individuals living alone or with non-relatives, such as roommates.

Households stats

Total households
675
-9.5% year-over-year change
Average people per household
2
Non-family households
289
Family households
386
Value Percent YoY change
Non-family households 289 42.8% -15.2%
Family households 386 57.2% -4.7%
The mix between family and non-family households gives a glimpse into daily life. A higher percentage of families might mean more parks and schools, while more non-family setups can mean flexible housing and diverse living styles. For renters, this can signal what kinds of homes are common and can help you figure out if the area matches your lifestyle.

Housing in Lakefield

The housing landscape of Lakefield

Lakefield's housing consists of 770 units, with 90.1% being detached single-family homes ideal for those wanting space. Attached options, including duplexes and townhouses, make up 1.4% and offer a more compact, shared living style.

Housing units
770
-6.3% year-over-year change
Housing types
Value Percent
1 unit, detached 694 90.1%
1 unit, attached 11 1.4%
2 units 17 2.2%
3 or 4 units 14 1.8%
5 to 9 units 10 1.3%
20 to 49 units 19 2.5%
50 or more units 5 0.6%
Homes built since 2020
0
% year-over-year change

The age of buildings in Lakefield

In Lakefield, the median construction year is 1959. About 23% of homes were built before the 1940s, with another 9% going up by 1949. Most development happened in the second half of the 20th century.

Construction year breakdown by decade
Value Percent YoY change
Built in 1939 or earlier 177 23% -31.1%
Built between 1940 and 1949 69 9% 19.0%
Built between 1950 and 1959 154 20% -9.4%
Built between 1960 and 1969 128 16.6% -0.8%
Built between 1970 and 1979 155 20.1% 8.4%
Built between 1980 and 1989 29 3.8% 0.0%
Built between 1990 and 1999 3 0.4% 0.0%
Built between 2000 and 2009 36 4.7% 16.1%
Built between 2010 and 2019 19 2.5% 850.0%
As a renter, knowing when homes were built helps you understand the potential condition and design of rental units. Newer builds may have more contemporary layouts, while older homes can offer character or larger lots, depending on the area.

Lakefield occupancy rates

Out of the 675 occupied housing units in Lakefield, 89.6% are owner-occupied, while 10.4% are lived in by tenants. Meanwhile, 12.3% of all homes on the local market sit vacant.

Occupied housing units
675
-9.5% year-over-year change
Occupancy breakdown
Renter occupied
70
Owner occupied
605
Value Percent YoY
change
Renter occupied 70 10.4% -22.2%
Owner occupied 605 89.6% -7.8%
Unoccupied housing units
12.3%
Unoccupied housing units refer to homes that are currently without residents—whether they're waiting for renters or owners, used seasonally, or simply unclaimed. A higher share of empty homes may mean more housing availability, while a low number can reflect a tighter market with more competition. This, along with the renter-vs.-owner mix, helps paint a clearer picture of what types of housing and services are likely to be available in the area.

Lakefield housing costs

Housing costs in Lakefield come to a median of $790 per month, while tenants specifically pay a median gross rent of $770.

Median housing costs per month
$790/month
This figure sums up typical monthly housing costs for all households in the area. If you own, it includes mortgage payments in addition to property taxes, insurance and HOA fees. If you rent, it accounts for rent plus extras like utilities. It’s useful for seeing how local living expenses stack up compared to other places.
Median gross rent in Lakefield
$770/month
Gross rent gives a more complete look at what renters actually pay, including not just base rent, but also utilities and fees. It’s a key number for evaluating rental affordability in your area of interest and understanding how it compares to nearby locations.

Education in Lakefield

Lakefield education at a glance

About 42.8% of the population in Lakefield went to high school, while 18.4% pursued college studies. Another 19.9% earned an associate degree and 14.1% hold a bachelor’s. Meanwhile, 3.7% went even further, earning a master’s or doctorate.

Education level
Value Percent YoY change
No high school 13 1.1% -58.1%
High school diploma 512 42.8% -2.3%
College diploma 220 18.4% -21.7%
Associate degree 238 19.9% 1.3%
Bachelor's degree 168 14.1% 1.8%
Graduate degree 44 3.7% 4.8%
A community’s education mix can offer insights into the local economy and housing market. Higher levels of education often align with more job opportunities and stable incomes, which can increase demand for homes and influence both rent prices and rental availability.

Income in Lakefield

How much people earn in Lakefield

The average annual household income in Lakefield was $76,060 in 2024, the most recent annual data available, according to the U.S. Census Bureau. This marked a +8.7% change from the previous year. At the same time, the median income stood at $71,648, reflecting a +14.4% shift over the same period.

Average household income in Lakefield
$76,060/year
8.7% year-over-year change
Median household income in Lakefield
$71,648/year
14.3% year-over-year change

Lakefield income by age

In Lakefield, households led by residents aged 25 to 44 — usually in the early to mid stages of their careers — have a median income of $92,344. Those with someone between 45 and 64 in charge, often well established professionally, earn $78,750 overall. Overall, 89.5% of the locals in this community live above the poverty line.

Income breakdown by age
Value YoY change
25 - 44 $92,344 16.3%
45 - 64 $78,750 23.5%
Over 65 $35,521 -9.6%
Above poverty level
1,315
Below poverty level
155
Value Percent YoY
change
Above poverty level 1,315 89.5% -8.9%
Below poverty level 155 10.5% -1.3%

Average renter income in Lakefield

To get a better sense of what renters earn on average in Lakefield, their median household income was $46,563 according to 2022 Census data. In addition, the rent-to-income ratio in the area, at 19.8%, shows what portion of their earnings goes toward housing expenses.

Renter median household income
$46,563
Rent-to-income ratio
19.8%
Understanding the rent-to-income ratio can help renters gauge if local housing costs align with their earnings. A ratio under 30% usually signals affordability, while exceeding this mark means rent is taking a larger-than-recommended bite out of income. That could make it harder for you to cover other costs like transportation, healthcare, or child care.

Employment in Lakefield

Workforce and job types in Lakefield

The job market in Lakefield is powered by 758 working residents, spread across a range of industries and roles. 62% of the working population are employed in professional or administrative positions, while 38% are in hands-on or service-based jobs. Also, 8.6% run their own businesses, 76.2% are employed by private companies, and 9.4% work in the public sector.

Workforce demographics

Working population
758
-10.0% year-over-year change
White collar
470
Blue collar
288
Value Percent YoY change
White collar 470 62% -12.8%
Blue collar 288 38% -5.0%
Employer type
Self employees
8.6%
Private companies
76.2%
Governmental workers
9.4%
Not for profit companies
5.8%
Value Percent YoY change
Self employees 65 8.6% 0.0%
Private companies 578 76.2% -10.2%
Governmental workers 71 9.4% -23.7%
Not for profit companies 44 5.8% 10.0%
Unemployment rate
0.5%
0.0% year-over-year change

Available workforce

The unemployment rate in Lakefield stands at 0.5%, representing the share of the workforce currently without a job and actively looking for one.

For renters, the unemployment rate helps paint a picture of job security and financial stability in the area. Rates around 4% to 5% are considered typical. A lower-than-average rate might suggest strong job prospects and a thriving local economy, while a higher rate could hint at fewer opportunities—both useful to consider when planning a move.

Transportation in Lakefield

How people get around in Lakefield

Commuting methods vary: 85.1% of residents travel by personal vehicle and 1.6% prefer to walk, while the remaining share relies on public transit or on two wheelers to get from A to B.

Means of transportation
Value Percent YoY change
Car 645 85.1% -7.3%
Bus or trolleybus 16 2.1% 45.5%
Bicycle 2 0.3% N/A
Walk 12 1.6% -52.0%
Understanding how locals get to work can help you plan your own routine. High car usage might mean you’ll need a vehicle, while strong public transit or walkability could save you the hassle. Commute times also play a big role in quality of life—shorter trips can give you more time for the things you enjoy.

What is the median and average household income in Lakefield by zipcode?

Zipcode Population Number of households Median income Average income
56150 2,802 1,126 $76,844 $90,901

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FAQs about Lakefield demographics 

What is the total population of Lakefield?

Lakefield has a total population of 1,507 residents, according to the latest release from the U.S. Census Bureau: the 2019-2023 American Community Survey (ACS) 5-year estimates. This figure changed by -8.8% compared to a year ago.

What is the gender ratio in Lakefield?

The gender ratio in Lakefield is as follows:
  • 46.2% males (696 residents)
  • 53.8% females (811 residents)

What is the median age in Lakefield?

The median age in Lakefield is 43.3.

What is the age distribution of the population in Lakefield?

The age distribution in Lakefield is as follows:
  • Under 15: 17.2% (260 residents)
  • Ages 15-24: 10.3% (155 residents)
  • Ages 25-44: 24.6% (371 residents)
  • Ages 45-64: 18.6% (281 residents)
  • Over 65: 29.2% (440 residents)

What is the racial and ethnic makeup of Lakefield?

The racial and ethnic makeup of Lakefield is as follows:
  • White: 95.9% (1,445 residents)
  • Black or African American: 0% (0 residents)
  • American Indian and Alaska Native: 0% (0 residents)
  • Asian: 0.4% (6 residents)
  • Native Hawaiian and Other Pacific Islander: 0% (0 residents)
  • Two or More Races: 3.4% (52 residents)
  • Other: 0.3% (4 residents)

What percentage of the population in Lakefield are U.S.-born citizens?

U.S.-born citizens represent 97.4% of the population in Lakefield.

How many housing units are there in Lakefield?

There are 770 housing units in Lakefield, reflecting a -6.3% change compared to the previous year, according to the latest data from the U.S. Census Bureau.

How many households are in Lakefield and what is the average household size?

Lakefield has a total of 675 households, with an average of 2 people in each.

What is the median household income in Lakefield?

Lakefield has a median household income of $71,648, representing a +14.3% shift from the previous year, according to the U.S. Census Bureau.

What is the employment rate and job market overview for Lakefield?

The employment rate is 99.5% in Lakefield, with a workforce of 758 residents. Here’s a detailed breakdown of the local job market:

Job types:
  • White-collar workers: 62% (470 residents)
  • Blue-collar workers: 38% (288 residents)

Places of employment:
  • Self-employed: 8.6% (65 residents)
  • Private companies: 76.2% (578 residents)
  • Governmental workers: 9.4% (71 residents)
  • Not-for-profit companies: 5.8% (44 residents)

Data source & methodology

The demographic data on this page was sourced from the latest U.S. Census Bureau release—the 2019–2023 American Community Survey (ACS) 5-year estimates.

The information, issued annually, is compiled and published by the Point2Homes Research Team as soon as new data becomes available.

No representation, guarantee, or warranty is made concerning the accuracy or completeness of modified or aggregated information for particular areas.

Page last updated: September 2025