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EconPulse

Local economy signal dashboard

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PLACEThriving

Lakefield, MN

Thriving overall. GDP / Output is the clearest support signal, while population needs the most attention. Housing reads as affordable for a median-income household.

Post on XLinkedIn
Overall score67out of 100
Compare
100
56
0
82
100

Population

1,507

Data freshness

Unknown

GDP / Output

+9.9% YoY

100

$881.0M

Output changed +9.9% in 2024.

Vintage date unknown

State growth5.1%
U.S. growth5.3%

Jobs

Unemployment rate

56

4.7%

Unemployment is 4.7% for June 2026.

Vintage date unknown

State avg4.1%
U.S. avg5.2%

Population

-10.5% 5-year

0

1,507

Population moved -10.5% over the latest ACS window.

Vintage date unknown

State population5,739,445
U.S. population334,922,499

Housing

Rent share of income

82

12.9%

Median rent consumes 12.9% of median household income: Affordable.

Vintage date unknown

State rent$1.3K
U.S. rent$1.4K
HUD_API_TOKEN missing; ACS median gross rent is used as the housing affordability fallback.

Federal Funds

$9.1K per resident

100

$91.2M

$91.2M in federal obligations flowed here in FY2025.

Vintage date unknown

State total$242.1B
U.S. total$5.3T

Population and output

Trend Snapshot

Reported share

Industry Breakdown

FY2025

Federal Money

Federal obligations

$91.2M

$9.1K per resident in reported federal flow.

Top agencies

Dollars
1. Social Security Administration$54.8M
2. Department of Agriculture$29.0M
3. Department of Veterans Affairs$4.0M

Top recipients

Dollars
1. REDACTED DUE TO PII$29.0M
2. CITY OF WORTHINGTON, MINNESOTA$892.8K
3. CITY OF JACKSON$455.3K

Affordable

Housing Affordability

12.9%

of median income

1BR estimate$631
2BR estimate$832
Median income$71,648
Median home value$133,800

ACS context

Quick Facts

Population

1,507

Median age

43.3

Bachelor's degree+

18.7%

Poverty rate

10.5%

Labor force participation

62.9%

Prime rate

6.8%

CPI YoY

+3.2%

U.S. GDP YoY

+6.5%

Sources and warnings

Data Provenance

Census ACS 5-year

2024

BLS LAUS / CPS

June 2026

BEA regional CAGDP1

2024

USAspending

FY2025

FRED

2026-07-30

HUD Fair Market Rent

Latest available

Data notes
  • HUD_API_TOKEN missing; ACS median gross rent is used as the housing affordability fallback.

5-year compound growth

Historical Trends

Population CAGR

-2.2%

GDP CAGR

+6.3%

Federal flow

5 years

Population (5 years)
20201,683
20211,702
20221,626
20231,652
20241,507
GDP (5 years)
2020$649.8M
2021$715.6M
2022$817.6M
2023$801.9M
2024$881.0M

2-year linear forecast

Predictive Outlook

Population forecast

20241,507
20251,513 *
20261,473 *

R² = 68.6% · * projected

GDP forecast

2024$881.0M
2025$937.8M *
2026$992.6M *

R² = 91.3% · * projected

Linear regression over available historical data. Projections are estimates based on past trends and do not account for policy changes, economic shocks, or other external factors.

housing affordability breakdown

Cost of Living

Median household income$71,648/yr
Median rent$770/mo
Rent share of income12.9%
Est. mortgage (30yr, 6.5%)$8,119/yr
Mortgage share of income11.3%

Rent data from Census ACS 5-year. Mortgage estimate assumes 20% down, 6.5% APR, 30-year fixed.

employment snapshot

Job Market

Unemployment rate4.7%
State avg4.1%
U.S. avg5.2%
Labor force participation62.9%
Poverty rate10.5%

Data from BLS LAUS / CPS. June 2026.

valuation snapshot

Real Estate

Median home value$133,800
Median monthly rent$770
Price-to-rent ratio14.5x

Low price-to-rent ratio — buying may be more favorable than renting in this market.

composite score

Investment Climate

Investment climateModerate
Composite score61/100
Economic growth100/100
Labor market56/100
Population momentum0/100
Overall stability67/100

Composite score weighs economic growth, labor market health, population momentum, and overall stability. Not financial advice.

Location Context

Lakefield city, Minnesota

City/Town

Part of

Minnesota

Nearby locations

Okabena, MNJackson, MNWilder, MNHeron Lake, MNFish Lake, MN