Home Insurance in Lakefield, Minnesota
The median home value in Lakefield is $133,800, 15% lower than the Jackson County median.
The typical home in Lakefield was built around 1959. About 52% of homes were built before 1960, in line with Jackson County (52%). Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them.
In Lakefield, the housing stock is 92% single-family homes and 4% apartments in buildings with 5+ units.
About 54% of owner-occupied homes in Lakefield have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
The vacancy rate is 12%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 90% of occupied homes in Lakefield are owner-occupied.
In Lakefield, 89% of homes are primarily heated with natural gas.
Jackson County's top FEMA-rated hazard is winter weather (Relatively Moderate), per FEMA's National Risk Index. Jackson County had 15 active NFIP flood policies as of September 2026. See the full Jackson County home insurance overview for all FEMA hazard ratings and flood coverage details.
The statewide average premium for a standard HO-3 homeowners policy in Minnesota is $1,988 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $133,800 |
|---|---|
| Median year built | 1959 |
| Owner-occupied share | 90% |
| Share of owner-occupied homes with a mortgage | 54% |
| Top county hazard | Winter Weather (Relatively Moderate) |
| Active NFIP policies in Jackson County | 15 |
| Home insurance premium | $1,988 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)