Home values, rents and more in Lakefield, MN
September 2026 figures from Zillow and the U.S. Census Bureau · updated 2026-11-07
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How Lakefield compares
The typical home in Lakefield, MN is worth about $209,000, according to the Zillow Home Value Index for September 2026. Home values in Lakefield are 40% below the typical value in Minnesota ($349,000) and 43% below the U.S. typical value ($366,000).
Over the past year, home values in Lakefield fell 1.2%, compared with +2.3% in Minnesota and +1.2% nationally.
The median household income is $71,648, against $89,062 in Minnesota and $80,734 in the U.S. (Census Bureau, American Community Survey 2020–24).
About 1,507 people live in Lakefield (American Community Survey 2020–24).
Lakefield has the 127th-lowest typical home value of the 675 cities in Minnesota with Zillow figures.
Part of: Jackson County, MN · Minnesota
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- 5- and 10-year price changes
- Days on market and months of supply
- Price cuts and sale-to-list ratio
- Price-to-income and monthly cost to buy
- Crime rates
- Homeowners insurance premiums
- Commute time to downtown
- Flood, wildfire and natural hazard risk
- Property-tax rate
- 2024 presidential vote
- Age, education and household make-up
- Amenities and transit nearby
Nearby cities
ZIP codes in Lakefield, MN
Sources
Home values: Zillow Home Value Index (ZHVI), all homes, middle tier, smoothed and seasonally adjusted, September 2026. Rents: Zillow Observed Rent Index (ZORI), seasonally adjusted. Population: Census population estimates (July 2025) for states, metros and counties; ACS 2020–24 for cities and ZIP codes. Income: U.S. Census Bureau, ACS 2020–24 5-year estimates. Boundaries: U.S. Census Bureau cartographic boundary files. Compiled by Home Economics.
"Typical" is Zillow's middle-tier value (homes between the 35th and 65th percentiles), not a median sale price. Changes are over the 12 months to September 2026.