Lafayette, MN
Population 478 · Minnesota
About Lafayette, MN
Lafayette is a small community in Minnesota with a population of 478 residents. The median household income is $95,500 per year, which is above the national average. The median age in Lafayette is 42.1 years.
Housing in Lafayette has a median home value of $142,700 and median monthly rent of $725. Of the 211 total housing units, the majority are owner-occupied, with 157 owner-occupied and 15 renter-occupied units.
The unemployment rate in Lafayette is 0.0% and the poverty rate is 2.7%. 21.8% of residents hold a bachelor's degree or higher. The average commute time is 23.7 minutes.
Cost of Living in Lafayette, MN
Compared to national averages, Lafayette has a median household income of $95,500 (27% above the national median of $75,149). Home values average $142,700, which is 42% below the national median. Monthly rent at $725 is 38% below the US average of $1,163. Within Minnesota, Lafayette's income is 29% above the state average of $74,221, and home values are 30% below the state median of $204,472.
Why Live in Lafayette, MN?
Lafayette offers a strong local economy with a median household income of $95,500, well above the national average, and affordable housing with a median home value of $142,700, below the US average of $244,900, and rent that’s lower than the national average at $725/month. Additionally, the city features a strong job market with an unemployment rate of just 0.0%, and a low poverty rate of 2.7%, better than the national average, and short commute times averaging just 23.7 minutes.
Lafayette has a population of 478 with a median age of 42.1 years. Compare Lafayette with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Lafayette
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Verndale | 479 | $44,083 | $105,500 | Compare |
| Racine | 476 | $95,125 | $239,500 | Compare |
| Floodwood | 482 | $40,972 | $100,000 | Compare |
| Jenkins | 472 | $70,500 | $265,900 | Compare |
| St. Marys Point | 484 | $106,250 | $471,400 | Compare |
| Ellsworth | 471 | $58,438 | $85,700 | Compare |
| Butterfield | 486 | $57,292 | $77,800 | Compare |
| Newfolden | 468 | $69,000 | $143,800 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Minnesota
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Lafayette
What is the population of Lafayette, MN?
The population of Lafayette, MN is 478 according to the latest Census data.
What is the median household income in Lafayette?
The median household income in Lafayette, MN is $95,500 per year.
What is the median home value in Lafayette?
The median home value in Lafayette, MN is $142,700.
What is the average rent in Lafayette?
The median monthly rent in Lafayette, MN is $725.
What is the unemployment rate in Lafayette?
The unemployment rate in Lafayette, MN is 0.0%.