Apartments for rent in Lake City, MN

Lake City, a small town in Minnesota, has a population of slightly more than 5,000. Retirees are a frequent sight, as they make up 25% of the population compared to 14% nationally, while young adults feature less prominently in the demographics. Overall, the town's population, at an average age of just under 46, skews older than most cities in Minnesota. Renters tend to be in the minority in the area, and 77% of residents own their homes. Renting remains an affordable option, though, as the town boasts a relatively low average rent of $884 per month. Over the course of a year, renters in Lake City will save around $1,300 compared to the state average.

Many Lake City residents work in one of three industries: manufacturing, healthcare, and retail. Combined, these industries make up 28% of the town's workforce. Meanwhile, looking at job function, many residents work in transportation, which ranks as the top field in the town. Lake City workers take home an average annual income of around $67,000, about $14,000 less than the state average. The town's average income also falls below the national average of $73,345. Lake City has a large percentage of residents over the age of 25 who possess a high school degree or GED (29%) compared to the national average. Further, 12% possess a Bachelor's degree and 5% have earned a Master's or Doctoral degree.

Averaging about 21 minutes, Lake City's commute time is shorter than the state average of about 25 minutes. Driving a vehicle is the most common means of commuting to work, opted for by 43% of commuters, while public transit is not extensively used. Few residents (3%) walk to work, though the number exceeds the national average.