Similar to the surrounding areas, it is substantially less expensive compared to the US as a whole. Compared to the city of Mankato, it is significantly less expensive.
Home prices
The median home in Lakefield costs $93,000. It is about $3,560 (3%) higher compared to nearby areas.In comparison to the United States as a whole it is approximately $124,500 (57%) lower, and in comparison to the city of Mankato it is about $86,400 (48%) lower.
Rents
The median rent in Lakefield is $774 per month. This is approximately $161 (26%) higher compared to the surrounding areas.It is about $288 (27%) lower in comparison to the United States as a whole, and is approximately $125 (13%) lower compared to the city of Mankato.
Nearby places
Jackson
Jackson is roughly 8 miles east from Lakefield. Its housing prices are a bit more expensive. The value of the median home in Jackson is $117,500, which is $24,500 (20%) higher than Lakefield. The rent there is a little less expensive. In Jackson the median monthly rent is $711, which is $63 (8%) lower than Lakefield.
Heron Lake
Heron Lake is about 9 miles northwest of Lakefield. The housing prices there are a little less expensive. The median home price in Heron Lake is $73,900, which comes out to $19,100 (25%) lower than Lakefield. Rent there is a little less expensive. Heron Lake's median monthly rent is $625, which comes out to $149 (23%) lower than Lakefield.
Brewster
Brewster is roughly 12 miles west from Lakefield. The real estate prices there are pretty similar. The median home in Brewster is valued at $96,300, which is $3,300 (3%) higher than Lakefield. Rents there are significantly less expensive. In Brewster the median rent is $575 a month, which works out to $199 (34%) lower than Lakefield.
Windom
Windom is approximately 12 miles north of Lakefield. Its real estate prices are pretty similar. The median home in Windom is valued at $97,000, which works out to $4,000 (4%) higher than Lakefield. Rents there are a little less expensive. In Windom the median rent is $666 a month, which works out to $108 (16%) lower than Lakefield.
Alpha
Alpha is approximately 12 miles east from Lakefield. Housing prices there are substantially less expensive. Alpha's median home value is $62,500, which comes out to $30,500 (48%) lower than Lakefield. Rent there is substantially less expensive. In Alpha the median rent is $488 per month, which is $286 (58%) lower than Lakefield.
