US5.com
  1. Home
  2. States
  3. Minnesota
  4. ZIP 56150
  5. Housing & Real Estate
Lakefield city, MN

ZIP 56150 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 56150

Median Home Value
$128,500
Median Rent
$528
Affordability Snapshot
$35,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$825/mo PITI).

9%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

1.9x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

20.3 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 56150 in Lakefield city, MN, a household would need roughly $35,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $825. That sits below the local median household income ($69,224), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Owner-occupied majority; balanced tenure mix.

Heating Fuel
Housing Metrics
Owner Occupied
87.3%+34% vs US avg
x
Vacancy Rate
10.0%-3% vs US avg
x
Broadband Access
84.7%-3% vs US avg
x
4+ Bedrooms
5.8%-61% vs US avg
x
Built Pre-1939
8.8%-32% vs US avg
x
Built Post-2014
0.5%-92% vs US avg
x
Rent Burden >30%
9.2%-81% vs US avg
x
Mortgage-Free
53.9%+41% vs US avg
x
$128,500
Home Value
$528
Rent
1954
Year Built
2007
Moved In

Residents have lived here since ~2007 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached91.9%
  • 1-unit attached1.7%
  • 2-9 units3.1%
  • 10+ units1.4%
  • Mobile home & other1.9%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$128,500
Median rent$528
Owner-occupied87.3%
Vacant10.0%
Price-to-income1.9x
Est. income to buy$35,000