Lafayette, MN—56054
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Lafayette, MN
As of Oct '25, the median home price in Lafayette, MN is $242,000, with a year-over-year change of 8.8%. This indicates that home prices in Lafayette, MN are increasing. According to Zillow, the 1-year price projection is 2.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $242,000 | 8.8% |
| Single Family | $243,000 | 10.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $198,000 | 8.2% |
4 Bed | $286,000 | 8.7% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Lafayette, MN
Lafayette, MN lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Lafayette, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Lafayette, MN is 141. This is a increase of 10.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $230,000 | -7.0% |
Listing Count | 3 | 333.0% |
| Listings as % of Homes | N/A | 333.0% |
Days on Market | 141 | 10.0% |
Demographics — Lafayette, MN
As of the latest ACS Survey released in 2023, Lafayette, MN has a population of 865, which has decreased by -8.9% over the past 5 years. Lafayette, MN is a moderately popular place for families, as children make up 16.4% of the population. The area has a moderately educated workforce, with 25.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 865 | -8.9% |
% Under 18 | 16.4% | -37.9% |
% Seniors | 19.9% | 55.5% |
% WFH | 6.7% | -30.2% |
% w/ College Degree | 25.3% | 50.6% |
As of the latest ACS Survey released in 2023, Lafayette, MN is a predominantly white area, with 96.9% of the population identifying as white. The white population has shrunk by 1.0% in the last 5 years. The second most common race or ethnicity in Lafayette, MN is hispanic, making up 0.7% of the population. Foreign-born residents account for 0.3% of the population in Lafayette, MN, and this percentage has increased by 200.0% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 96.9% | -1.0% |
% Black | 0.0% | N/A |
% Hispanic | 0.7% | ∞% |
% Asian | 0.0% | N/A |
% Foreign Born | 0.3% | 200.0% |
Mortgage and Risk — Lafayette, MN
Lafayette, MN lacks sufficient mortgage origination data for analysis.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | N/A |
% Conventional Loans | N/A |
% Government Loans | N/A |
% Investor Loans | N/A |
% Second Loans | N/A |
% Cash Out Refinance | N/A |
Loan Activity
No data available
Rentals and Section 8 — Lafayette, MN
Lafayette, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | 7.7% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $820 |
| 2 Bedroom | N/A | N/A | $1,000 |
| 3 Bedroom | N/A | N/A | $1,400 |
| 4 Bedroom | N/A | N/A | $1,690 |
Affordability — Lafayette, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.1 |
| Median Home Price | $242,000 |
| Median Household Income | $97,300 |