Lakeland, MN
Population 1,510 · Minnesota
About Lakeland, MN
Lakeland is a small town located in Minnesota with a population of 1,510 residents according to the latest US Census Bureau American Community Survey data. The median household income is $101,339 per year, which is 35% above the national median of $75,149. The median age of 52.7 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Lakeland features a median home value of $357,700, which is 46% above the national median of $244,900. This positions Lakeland in a moderately priced market relative to the rest of the country. Median monthly rent is $1,644, 41% above the national average of $1,163/month. Of the 743 total housing units, 86% are owner-occupied (604 units) and 14% are renter-occupied (102 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Lakeland shows an unemployment rate of 4.6%, which is near the national rate of 3.7%. The poverty rate stands at 3.8%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Lakeland have an average one-way commute time of 24.4 minutes.
Education & Demographics
46.2% of Lakeland residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 1.5% White, 0.2% Hispanic or Latino, 0.0% Black or African American, and 2.4% Asian residents, with 3.5% of the population being foreign-born.
Cost of Living in Lakeland, MN
Compared to national averages, Lakeland has a median household income of $101,339 (35% above the national median of $75,149). Home values average $357,700, which is 46% above the national median. Monthly rent at $1,644 is 41% above the US average of $1,163. Within Minnesota, Lakeland's income is 37% above the state average of $74,221, and home values are 75% above the state median of $204,472.
Why Live in Lakeland, MN?
Lakeland offers a strong local economy with a median household income of $101,339, well above the national average, and a well-educated community where 46.2% of residents hold a bachelor’s degree or higher, and a low poverty rate of 3.8%, better than the national average. Additionally, the city features short commute times averaging just 24.4 minutes.
Lakeland has a population of 1,510 with a median age of 52.7 years. Compare Lakeland with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Lakeland
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Madison | 1,507 | $56,435 | $104,600 | Compare |
| Red Lake | 1,506 | $55,092 | $136,000 | Compare |
| Clara City | 1,497 | $58,431 | $116,500 | Compare |
| Avon | 1,493 | $90,987 | $240,400 | Compare |
| Minneota | 1,531 | $72,396 | $158,100 | Compare |
| Canby | 1,563 | $58,839 | $131,800 | Compare |
| Dawson | 1,441 | $70,286 | $118,800 | Compare |
| Pierz | 1,581 | $55,438 | $155,700 | 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.
Compare Lakeland With Other Cities
Frequently Asked Questions about Lakeland
What is the population of Lakeland, MN?
The population of Lakeland, MN is 1,510 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Minnesota.
What is the median household income in Lakeland?
The median household income in Lakeland, MN is $101,339 per year, which is 35% above the national median of $75,149.
What is the median home value in Lakeland?
The median home value in Lakeland, MN is $357,700, which is 46% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Lakeland?
The median monthly rent in Lakeland, MN is $1,644, which is 41% above the national average of $1,163/month.
What is the unemployment rate in Lakeland?
The unemployment rate in Lakeland, MN is 4.6%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Lakeland, MN a good place to live?
Lakeland offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 1,510 and a median age of 52.7, the city appeals to established professionals and retirees.
How educated is Lakeland, MN?
46.2% of residents in Lakeland aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Lakeland?
Key cost-of-living indicators for Lakeland, MN: median home value is $357,700 (46% above national), median rent is $1,644/month, and median household income is $101,339. The home-value-to-income ratio is 3.5x, a moderate figure by national standards.
What is the poverty rate in Lakeland?
The poverty rate in Lakeland, MN is 3.8%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Lakeland, MN?
Lakeland's population is 1.5% White, 0.2% Hispanic or Latino, 0.0% Black or African American, 2.4% Asian, and 0.5% two or more races. 3.5% of residents are foreign-born.