Rental Market Trends in Lafayette, MN
What is the average rent in Lafayette, MN?
$621/month
Average Rent
650 Sq Ft
Average Apartment Size
+0.7%
Increase in the Last Year
As of October 2025, the average rent in Lafayette, MN is $621 per month. This is 62% lower than the national average rent of $1,629/month, making renting in Lafayette more affordable than most cities in the US. When you rent an apartment in Lafayette, you can expect to pay about per month for a studio, $621 for a one-bedroom apartment, and around $629 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay or more.
How much has average rent changed in Lafayette, MN?
In the past year, rent has increased by 0.7%, which averages out to $5 more per month.
What salary do I need to live comfortably in Lafayette, MN?
Because the average rent in Lafayette is $621, you’ll want to make about $2,070 per month or $24,840 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
Nearby City Rent Trends
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Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in September 2025.
* Percentages may not total 100 due to rounding.