Lake City: Economy & Jobs
Lake City's typical household earns $72,244 (1.1× below Wabasha County median $82,007; 1.2× below Minnesota median $89,062), with homes at a median value of $238,700. The surrounding county supports 21,366 jobs (avg $60,513).
- $80,551 avg taxable income per return — similar than the median household income (vs Minnesota $91,811).
Income & Affordability
Median household income $72,244 — below the Minnesota median ($87,024). Poverty rate 5.9% (U.S. average ~12.5%). 36% of renters spend more than half their income on rent ("severely cost-burdened" by HUD definition; U.S. ~24%).
| Affordability · Home Price To Income | 3.3× |
|---|---|
| Affordability · Home Affordability | moderate |
| Affordability · Rent Pct Income | 17.0% |
| Affordability · Rent Affordability | affordable |
| Affordability · Pct Severely Rent Burdened | 36.5% |
| Affordability · Poverty Rate | 5.9% |
| Affordability · Property Tax Pct Income | 3.8% |
| Irs Income · IRS tax returns filed | $24,790 |
| Irs Income · Total Adjusted Gross Income (thousands) | $1,996,852 |
| Irs Income · Average AGI per return | $80,551 (vs Minnesota $91,811) |
| Irs Income · Year | 2022 |
| Income Estimate | $86,745 |
| Median Household Income | $72,244 (vs Minnesota $87,024) |
| Poverty Rate | 5.9% |
Sources: IRS SOI 2022 · Census ACS 5-Year 2023 · Refreshed 2026-04-12
Economic Character
Qualitative classification derived from Census occupation, industry, and income data — workforce composition (white-collar/blue-collar), top employing sector, and income tier.
| Economic Character · Workforce | mixed |
|---|---|
| Economic Character · Top Industry | Education Healthcare |
| Economic Character · Income Level | middle-class |
| Economic Character · Median Income | $72,244 |
Employment & Workforce
Employment + workforce stats. The county-level employment count covers all jobs within the county, not just town residents. Unemployment rate 0.4% — below the U.S. average of ~4%. 10% work from home (U.S. average ~15%).
| Commuter Profile · Mean Commute Min | 20.30 |
|---|---|
| Commuter Profile · Work From Home Pct | 10.5% |
| Commuter Profile · Profile | short commute |
| Employment · Avg annual employment (county) | 21,366 |
| Employment · Total annual wages (county) | $1,292,904,099 |
| Employment · Average annual pay | $60,513 |
| Employment · Year | 2024 |
| State Occupation Wages · Year | 2023 |
| State Occupation Wages · All Occupations · Soc Code | 00-0000 |
| State Occupation Wages · All Occupations · Title | All Occupations |
| State Occupation Wages · All Occupations · Employment | 2,881,100 |
| Unemployment Rate | 0.4% (vs Minnesota 2.8%) |
Sources: BLS QCEW 2023 · BLS Occupational Employment and Wage Statistics (OES) · Census ACS 5-Year 2023 · Refreshed 2026-04-12
Industry Sectors
Major industries by establishment count from Census County Business Patterns (2022). Sectors are NAICS-coded; counts are county-wide employer establishments.
| Agriculture · Total Farms | 53 |
|---|---|
| Agriculture · Land In Farms Acres | 6,306 |
| Agriculture · Avg Farm Size Acres | 119.00 |
| Agriculture · Top Commodities | Crop Totals, Grain, Animal Totals, Corn, Milk |
| Agriculture · Year | 2022 |
| Business Patterns · Establishments (employer count) | 1,286 |
| Business Patterns · Total Employees | 18,779 |
| Business Patterns · Annual Payroll Thousands | 987,673 |
| Business Patterns · Year | 2022 |
Sources: USDA NASS Census 2022 — county FIPS matched · Census CBP API — county FIPS match
Local Business Mix
Retail and service businesses by category (Census CBP NAICS-coded). Counts cover the surrounding county, not just the town. Reflects the everyday commercial mix residents can access.
| Local Businesses · Grocery Stores | 12 |
|---|---|
| Local Businesses · Liquor Stores | 13 |
| Local Businesses · Gas Stations | 19 |
| Local Businesses · General Merchandise | 6 |
| Local Businesses · New Car Dealers | 5 |
| Local Businesses · Used Car Dealers | 4 |
| Local Businesses · Beauty Salons | 13 |
| Local Businesses · Pet Grooming | 3 |
Sources: Census CBP — NAICS detail codes
Dining Scene
Eating + drinking establishments by NAICS category (Census CBP 2022) — full-service restaurants, fast-food, bars, coffee shops. County-level counts.
| Dining Scene · Full Service Restaurants | 30 |
|---|---|
| Dining Scene · Fast Food | 30 |
| Dining Scene · Bars | 8 |
| Dining Scene · Coffee Snacks | 7 |
Sources: Census CBP NAICS 722
Banking
FDIC-insured bank branches with addresses. Branch density correlates with population — fewer branches per resident in lower-density areas.
Branches (2)
SNAP & Food Access
USDA-authorized SNAP retailers — supermarkets, super stores, convenience stores, and other locations where SNAP benefits can be redeemed. Per-1K density tracks food access.
Sample (5)
| Nearest Snap · Name | KWIK TRIP 600 |
|---|---|
| Nearest Snap · Total In Area | 6 |
Chamber of Commerce
IRS-registered chamber of commerce organizations matched to this town. Reflects the IRS Exempt Organizations BMF; some chambers operate informally and may not appear here.
| Chamber Of Commerce · Name | LAKE CITY CHAMBER OF COMMERCE |
|---|
Sources: IRS EO BMF · Refreshed 2026-04-12
Spending & Tax
Federal spending flowing to the surrounding county — direct payments, grants, contracts, loans (USAspending.gov).
| Federal Spending · Federal Spending Fy2024 | $329,594,351 |
|---|---|
| Federal Spending · Per Capita | 6,926.87 (vs Minnesota $8,335) |
| Federal Spending · Population | 47,582 people (vs Minnesota 32,889) |
Sources: USAspending API
Other
| Pct Drove Alone | 74.0% |
|---|---|
| Pct Public Transit | 3.0% |
| Pct Walked | 10.5% |
| Retirement Score · Median age | 49.1 years (vs Minnesota 37.5y) |
| Retirement Score · Ss Household Pct | 45.3% |
| Retirement Score · Hospitals Nearby | 2 |
| Retirement Score · Va Access | Yes |
| Retirement Score · Factors | older population, strong SS base, hospital access, VA nearby |
| Retirement Score · Rating | excellent |
Sources: Census ACS 5-Year 2023 · Refreshed 2026-04-12