Lafayette City, Minnesota
Population 570

Overview

Housing
Median Home Value
$82,700
Half are $66,600 - $110,500
Median Monthly Owner Costs
$952
With a Mortgage
Median Monthly Rent
$567
Includes Utilities
Median Year Housing Built
1953
Employment & Commute
Median Household Income
$48,000
Poverty Rate
12%
Unemployment Rate
6.7%

The city of Lafayette is one of 5 cities in Nicollet County. It is a rural city located in southern Minnesota near the Minnesota River.

Lafayette, MN is a Place (City):
Often referred to as cities, places can be categorized as Census Designated Places (CDP) or legal entities. The places that are legal entities provide governmental functions. CDPs have no governmental authority and exist only for statistical purposes. They are similar to legal entities in that they are a concentrated population identifiable by a name. Neither cross state lines, but may extend across county lines. A CDP may not extend into a legal entity.
Need a wider view? Lafayette, MN is a part of the Mankato, MN Metro Area.

Housing

1953

Median Year Housing was BuiltAll Housing Including Owner/Renter Occupied and Unoccupied

76.4%

Home Ownership PercentageOccupied Housing Units

13

Price to Rent RatioOccupied Housing Units

The price to rent ratio compares home values to rental costs. Values over 20 indicate that it is likely more affordable to rent. Values under 15 indicate that it is likely more affordable to buy. Values between 15 and 20 indicate that extra judgment must be taken when making housing decisions. It is calculated as the median home value divided by the median annual contract rent (ie. rent without additional utilities).

$82,700

Median Owner Occupied Home Value

$952

Median Monthly Ownership CostsOwner Occupied Housing Units with a Mortgage

Monthly housing costs include mortgage payments, real estate taxes, insurance, utilities, and condo fees. When comparing to monthly rental costs, be careful to also look at the median number of bedrooms. Owner occupied homes generally include more bedrooms than rentals.

1.1%

Average Annual Real Estate Taxes as a Percent of Home ValueOwner Occupied Housing Units

1.7

Housing Affordability (Median Multiple)

The median multiple is the ratio of median house price by the median annual household income. In other words, how many years would it take for the median income to pay off the median home price? Higher values indicate that the incomes in the area are not high enough to warrant the higher home prices. Anything under 3 is considered affordable while higher values indicate that housing is not affordable.

$567

Median Monthly Rent and Utility CostsRenter Occupied Housing Units with Housing Costs

Monthly housing costs include rent and utilities. When comparing to monthly ownership costs, be careful to also look at the median number of bedrooms. Owner occupied homes generally include more bedrooms than rentals.

Employment

$48,125

Median Household Income

30.8

Household Income Inequality

Income inequality is measured using the Gini coefficient. Lower values indicate that household income is spread evenly across the income groups. Higher values indicate that one income group is much more common than others.

12%

Poverty Rate

Poverty status uses the standards set by the Office of Management and Budget (OMB). If a family's total income is less than a certain threshold, every person in the family is considered to be in poverty. The threshold varies based on family size, composition, and age.

$31,607

Median Annual Individual EarningsPast 12 months for the Population Ages 16+ With Earnings

60%

Unadjusted Gender Pay GapPopulation Ages 16+ with Earnings

The unadjusted gender pay gap is the median indvidiual female earnings as a percentage of male earnings. In other words, women who work in Lafayette, MN generally make around 6025% of what men do. Much of that difference is likely due to the number of hours worked (see the Full Time vs Part Time Work chart), occupations chosen (see the Employed by Occupation chart), education, and job experience. Adjusting for each of those factors to see what women with similar qualifications and jobs make compared to men is difficult, but the adjusted pay gap would be more likely to show the difference due to discrimination, difference in ability, or willingness to negotiate pay. For these reasons, differences in the gender pay shown here may be more likely to show the gender ideals in an area than the discriminatory practices.

6.7%

Unemployment RatePopulation Ages 16+ in the Civilian Labor Force

To classify as unemployed, people must not be in the military and must be actively looking for work (also known as the U3 measure of unemployment which is the official unemployment rate). In Lafayette, MN, 24% of the population ages 16+ are not employed, but are also not looking for work so they are not considered in the unemployment rate. See the Labor Force Participation Rate for more information.

76%

Labor Force Participation RatePopulation Ages 16+

People in the labor force include those in the armed forces as well as civilians who are employed or classified as unemployed. To classify as unemployed, people must be actively looking for work. Common people that are not considered in the labor force are students, homemakers, retired workers, seasonal workers not currently looking for work, and institutionalized people. In Lafayette, MN, 24% of people are neither employed or looking for work.

Means Of Transportation To WorkWorkers Ages 16+

Car, truck, etc.
90%
Public transportation
1%
Taxi
0%
Bicycle, Walked, or Other Means
5%
Worked at Home
5%

Education

Educational AttainmentPopulation Ages 25+

Less than High School Diploma
13.3%
High School Graduate
56.1%
Associate's degree
12.5%
Bachelor's degree
13.6%
Master's degree
0.5%
Professional school degree
2.2%
Doctorate degree
1.9%

Demographics

570

Total Population

Life Stages

Children Under 10
19%
Children 10-17
11%
Young Adult Singles
14%
Middle Aged and Married
23%
Seniors
15%
Other
18%

Race

White
99%
Black
0%
American Indian or Alaskan
0%
Asian
0%
Pacific Islander
0%
Other
0%
Two Plus Races
1%
8

Racial and Ethnic Diversity

The racial and ethnic diversity index measures the probability that any two people chose at random from Lafayette, MN are of different races or ethnicities where higher numbers represent more diversity. It was developed by the University of North Carolina and USA Today in 1991 and adapted in 2000 to account for differences in Census questions. It uses the same calculation methods as the Gini Index used by the Census Bureau to determine household income inequality.

Climate

The climate estimates use Lafayette, MN weather from 1971 to 2000 at the nearest official weather station which is located at NEW ULM 2 SE.

Average Daily Temperatures by Month (°F)

Average Monthly Precipitation (Inches)

Summer High Temps

This weather station's average summer high temps are lower than 66% of other weather stations.

Winter Low Temps

This weather station's average winter low temps are lower than 88% of other weather stations.

Precipitation Levels

This weather station's average precipitation levels are lower than 62% of other weather stations.

Entity Info

PropertySourceValue
State2013 ACSMN
Summary Level2013 ACS160 (place)
Logical Record Number2010 Census0287183
Logical Record Number2013 ACS0012534
Region2013 ACS2
Division2013 ACS4
State FIPS2013 ACS27
Place FIPS2013 ACS33920
Metro Micro Politan Statistical Area Principal City Indicator2010 CensusN
New England City & Town Area Principal City Indicator2010 CensusN
Name2010 CensusLafayette city
Name2013 ACSLafayette city, Minnesota
Functional Status Code2010 CensusA
Legal Statistical Area Description Code2013 ACS25
State ANSI2010 Census00662849
Place ANSI2010 Census02395584
Full GEOID2013 ACS16000US2733920
GEOID2013 ACS2733920
Population2010 Census504
Population2013 ACS570
Housing Units2010 Census244
Housing Units2013 ACS259
Land Area2013 ACS1.2 square miles
Water Area2010 Census0
Population Density2013 ACS494.3 people per sq. mile
Minimum Bounding Rectangle Or Bounding Box2013 ACS[44.434845,-94.401748], [44.456639,-94.382962],
Centroid Or Center Coordinates2013 ACS44.447187945571, -94.393302318624
FIPS Place Class Code2010 CensusC5
Place Size Code2010 Census08