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Housing Affordability in Lakefield, MN
Households that spend 30% or more of income on housing, rent and owner costs compared with income. American Community Survey 2020-2024 5-year estimates.
- Households paying 30%+ for housing
- 27.2%
- Minnesota 27.1%
- Renters paying 30%+
- 35.5%
- Minnesota 48.1%
- Homeowners paying 30%+
- 26.4%
- Minnesota 19.4%
- Owner costs with a mortgage
- $1,133/mo
- Minnesota $1,947/mo
Lakefield has fewer than 10,000 residents, so these survey estimates have wide margins of error. Compare with care.
Housing costs compared with income
- Renters paying 30% or more2235.5%
- Homeowners paying 30% or more15626.4%
- Renters paying 50% or more1219.4%
- Median rent as a share of income: 17.2%
- Median owner costs as a share of income, with a mortgage: 17.4%
- Median owner costs without a mortgage: $542/mo
- Median home value divided by median household income: 1.9
How it compares
Swipe the table sideways to see more columns.
| Area | Households paying 30%+ for housing | Renters 30%+ | Owners 30%+ | Median rent as % of income |
|---|---|---|---|---|
| Lakefield, MN | 27.2% | 35.5% | 26.4% | 17.2% |
| Jackson County | 19.4% | 38.2% | 15.2% | 19.2% |
| Minnesota | 27.1% | 48.1% | 19.4% | 29.2% |
| United States | 32.2% | 51.1% | 22.7% | 30.6% |
Frequently asked questions
- What is the housing cost burden in Lakefield, MN?
- In Lakefield, MN, 27.2% of households spend 30% or more of their income on housing costs.
- How does Lakefield compare with Minnesota?
- The households paying 30%+ for housing in Lakefield is 27.2%, compared with 27.1% for Minnesota as a whole.
Source: U.S. Census Bureau, American Community Survey · 2020-2024 5-year estimates