Cost of living in Lake City, Minnesota

Lake City, Minnesota has about 5,034 people. That count is a 2020–2024 Census average, not a headcount from one day.

A typical home is worth about $238,700.

HUD's fair-market rent for a 2-bedroom in Wabasha County is $1,014 a month. That is the county number, not an apartment listing in Lake City. It runs from October 2026 through September 2027.

In the Rochester, MN metro area, prices sit at 90.8 when the U.S. average is 100. That is a 2024 BEA index.

Minnesota taxes wages. A typical combined sales tax is 8.1% as of January 1, 2026. That mix is statewide, not Lake City's exact store tax.

In July 2026, a typical Minnesota home paid 17.45¢ per kilowatt-hour. That is a state average from EIA, not Lake City's bill.

For the week of October 12, 2026, EIA's all-grades gasoline price in Minnesota was $4.257 a gallon. At 12,000 miles a year and 25 mpg, the index counts that as $2,043.36 a year. Those miles are our standard, not a Census figure, and every town in Minnesota shares this price.

Among 338 places we list in Minnesota with a rent figure, 234 have higher typical rent than Lake City.