Cost of Living in Lakefield, MN

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11%
Overall NAT. AVG.
0%
Groceries NAT. AVG.
38%
Housing NAT. AVG.
Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
The cost of living index is based on a national average of 100. For example, if the cost of living score is 90, then the estimated cost of living is 10% lower than the national average. If the score is 110, then the estimated cost of living is 10% higher than average. The overall index is calculated using weighted estimates across major everyday expense categories, including housing (30%), groceries (16%), transportation (12%), healthcare (10%), utilities (8%), lifestyle and entertainment (8%), household expenses (8%), and education and childcare (8%). All values are AI-assisted city-level estimates designed for directional comparisons.
Index Lakefield Minnesota National
Cost of living89100100
Groceries100100100
Health care101100100
Housing62100100
Transportation97100100
Utilities106104100
Lifestyle & Entertainment99100100
Household Items97100100
Education & Childcare10499100
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Homes For Sale In Lakefield, MN

property for sale

101 4th Ave N

Lakefield, MN
property for sale

45760 710th St

Lakefield, MN
property for sale

203 5th Ave N

Lakefield, MN
property for sale

0 Okabena RD

Heron Lake Twp, MN
See the Newest Homes For Sale In Lakefield, MN

Cost Of Living Quick Facts

  • The cost of living in Lakefield is 11% lower than the Minnesota average
  • The cost of living in Lakefield is 11% lower than the national average
  • Lakefield housing is 38% lower than the national average
  • Minnesota general sales tax is 35% higher than the national average
  • Minnesota state income tax is 106% higher than the national average

Most Affordable Places to Live in and Around Lakefield

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Compare Lakefield, MN Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index
      Lifestyle index
      Household index
      Educare index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$85,243$7,104$1,989$2,558
      Renters$63,167$5,264$1,474$1,895

      Minnesota Sales Tax

      State General Sales Tax With Max Surtax
      Minnesota 6.875% 7.875%

      Minnesota Income Tax

      State Income Tax (Low) Income Tax (High)
      Minnesota 5.35% 9.85%

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Wilder, MN387228.1%
      Dundee, MN747525.2%
      Alpha, MN1678317.1%
      Heron Lake, MN7298415.5%
      Okabena, MN2158416.1%
      Lakefield, MN1,7408911.0%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Itta Bena, MS1,7408020.1%
      Courtland, VA1,740972.5%
      Wrightsville, AR1,7398317.4%
      Princeville, IL1,741927.7%
      Bernice, LA1,7418118.6%
      Lakefield, MN1,7408911.0%
      Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
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