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The total population of Lakefield is estimated to be 1,626 with 757 males (46.56%) and 869 females (53.44%). There are 112 more females than males in Lakefield.
The median household income in Lakefield was $60,760 in 2021, which marked an a decrease of 332(0.54%) from $61,092 in 2020. This income is 81.44% of the U.S. median household income of $74,606 (all incomes in 2022 inflation-adjusted dollars).
Per the latest American Community Survey by the Census Bureau, Lakefield sees its highest median household income among householders in the age group of 25 to 44 years old, at $74,162. Overall, the median household income for the city of Lakefield stands at $60,760.
In Lakefield, the median income for all workers aged 15 years and older, regardless of work hours, was $39,986 for males and $26,081 for females. However, when specifically considering full-time, year-round workers within the same age group, the median income was $55,172 for males and $37,427 for females.
In Lakefield, population is primarily represented by White households, reporting a median income of $60,392.
In 2022, the population of Lakefield was 1,716, a 1.15% decrease year-by-year from 2021. Previously, in 2021, Lakefield's population was 1,736, an increase of 0.12% compared to a population of 1,734 in 2020.
The median age in Lakefield, MN is 41.4, as per 2021 ACS 5-Year Estimates. Of the total population, 21.92% were under the age of 15, 12.87% aged 15 to 29, 39.01% aged 30 to 64, 18.98% aged 65 to 84, and 7.23% were 85 years of age and older.
Racial distribution of Lakefield population: 96.42% are White, 0.53% are Black or African American, 0.18% are Asian and 2.88% are multiracial.