Lake City is home to 5,034 people in Minnesota. At a median age of 49.1, this is an older place than the country as a whole. Owners hold 79% of the housing stock. 3% of people here were born outside the United States. Home values have more than doubled since 2000, reaching $238,700. 28% of adults hold a bachelor's degree or higher.
At a glance
Lower income
median household income $72,244, below the US median
US median: $82,259
Older
median age 49.1
US median: 38.9
Less educated
28% hold a bachelor's degree
US average: 36%
Less affordable
home values up 36%, inflation adjusted
US median home: $376,019
Unique to this place
What stands out about Lake City
What changed most since 1990
White share98.8% → 92.6%(−6.3 pts)US over the same years: −17.8 pts
Median age39.6 → 49.1(+9.5 years)US over the same years: +6.0 years
Median home value (2024 dollars)$122,404 → $238,700(+95%)US over the same years: +67%
Shares are "alone or in combination": a person with both Medicare and Medicaid counts in each, so categories overlap and do not sum to 100%.
Section 09 · Service history
Veterans
Veterans by period of service, 2024
Gulf War (2001 or later)20.3%(64)
US avg: 26.4%
Gulf War (1990s)3.8%(12)
US avg: 24.3%
Vietnam era31.7%(100)
US avg: 33.1%
Korean War1.6%(5)
US avg: 4.5%
World War II0%(0)
US avg: 1%
Share of the 315 veterans here. A veteran who served across eras counts in each, so shares can total more than 100%. Peacetime-only service is included in the total but not shown as an era.
BAR + DOT: THIS PLACE · TICK: US AVERAGE
Over time
Lake City, decade by decade
Lake City population, inflation-adjusted income and home value, education, and diversity by year
Year
Population
Median household income
Median home value
Bachelor's degree+
Diversity score
1990
4,422
$59,339
$122,404
15.6%
2.9
2000
4,950
$74,027
$175,061
20.6%
11.3
2010
5,063
$67,188
$227,294
18.6%
14.6
2020
5,252
$73,305
$216,834
29.1%
20.8
2024
5,034
$72,244
$238,700
28.4%
17.7
Census years come from the decennial census and the latest year from the American Community Survey, so part of any change between those two rows can reflect the different surveys. Dollar figures are adjusted for inflation to 2024 dollars; a figure ending in "+" was at the Census Bureau's reporting cap that year. The diversity score runs from 0 to 100; see how it's calculated.
