Lanesboro, MN
Population 804 · Minnesota
About Lanesboro, MN
Lanesboro is a small community located in Minnesota with a population of 804 residents according to the latest US Census Bureau American Community Survey data. The median household income is $80,000 per year, which is 6% above the national median of $75,149. The median age of 47.1 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 Lanesboro features a median home value of $186,900, which is 24% below the national median of $244,900. This positions Lanesboro in a moderately priced market relative to the rest of the country. Median monthly rent is $532, 54% below the national average of $1,163/month. Of the 467 total housing units, 72% are owner-occupied (264 units) and 28% are renter-occupied (104 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Lanesboro shows an unemployment rate of 1.5%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 8.8%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Lanesboro have an average one-way commute time of 21.8 minutes.
Education & Demographics
43.2% of Lanesboro residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 0.1% White, 1.0% Hispanic or Latino, 0.0% Black or African American, and 1.1% Asian residents, with 1.4% of the population being foreign-born.
How Lanesboro Ranks in Minnesota
Cost of Living in Lanesboro, MN
Compared to national averages, Lanesboro has a median household income of $80,000 (6% above the national median of $75,149). Home values average $186,900, which is 24% below the national median. Monthly rent at $532 is 54% below the US average of $1,163. Within Minnesota, Lanesboro's income is 8% above the state average of $74,221, and home values are 9% below the state median of $204,472.
Why Live in Lanesboro, MN?
Lanesboro offers a strong local economy with a median household income of $80,000, well above the national average, and affordable housing with a median home value of $186,900, below the US average of $244,900, and rent that’s lower than the national average at $532/month. Additionally, the city features a strong job market with an unemployment rate of just 1.5%, and a well-educated community where 43.2% of residents hold a bachelor’s degree or higher, and a low poverty rate of 8.8%, better than the national average, and short commute times averaging just 21.8 minutes.
Lanesboro has a population of 804 with a median age of 47.1 years. Compare Lanesboro with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Lanesboro
Cities in Minnesota with a similar population size.
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 Lanesboro With Other Cities
Frequently Asked Questions about Lanesboro
What is the population of Lanesboro, MN?
The population of Lanesboro, MN is 804 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Minnesota.
What is the median household income in Lanesboro?
The median household income in Lanesboro, MN is $80,000 per year, which is 6% above the national median of $75,149.
What is the median home value in Lanesboro?
The median home value in Lanesboro, MN is $186,900, which is 24% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Lanesboro?
The median monthly rent in Lanesboro, MN is $532, which is 54% below the national average of $1,163/month.
What is the unemployment rate in Lanesboro?
The unemployment rate in Lanesboro, MN is 1.5%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Lanesboro, MN a good place to live?
Lanesboro offers above-average incomes, affordable housing, and a strong job market. With a population of 804 and a median age of 47.1, the city appeals to established professionals and retirees.
How educated is Lanesboro, MN?
43.2% of residents in Lanesboro 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 Lanesboro?
Key cost-of-living indicators for Lanesboro, MN: median home value is $186,900 (24% below national), median rent is $532/month, and median household income is $80,000. The home-value-to-income ratio is 2.3x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Lanesboro?
The poverty rate in Lanesboro, MN is 8.8%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Lanesboro, MN?
Lanesboro's population is 0.1% White, 1.0% Hispanic or Latino, 0.0% Black or African American, 1.1% Asian, and 0.0% two or more races. 1.4% of residents are foreign-born.