Commercial Real Estate Market in Lafayette, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
1 active listing and 61 off-market properties in Lafayette, MN.
Market Trends
Lafayette, MN spans 53.6 square miles in Nicollet County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Lafayette, MN runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Lafayette, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Lafayette, MN runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in Lafayette, MN runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 83.1%
- Commercial 9.4%
- Industrial 7.5%
Largest Zones share of zoned land by district
Agriculture And Rural Residence
Single And Two Family Residential
Commercial
Industrial
Multiple Family Residential
Lafayette, MN zones 793 acres across 5 districts. Commercial zoning covers 9.4% of zoned land, residential 83.1% and industrial 7.5%. The largest single district is Agriculture And Rural Residence at 54.1%. For commercial buyers the practical constraint is that only 16.9% of land carries a commercial or industrial designation.
Agriculture And Rural Residence (A)
The A Zone is needed in order to protect the farm industry as a viable, long-term use in those incorporated areas that are furthest from urban growth and associated services. This also promotes new urban growth to occur closer to services in an efficient manner.
Market overview
Demographics & Economy
Lafayette, MN has 888 residents in 377 households. Density runs 17 people per square mile. Median household income here is $97,344 and median gross rent $840 a month.
888
Population
377
Households
2.4
Avg Household Size
41
Median Age
25%
College-Educated
97%
High-School Grad
53.6 sq mi
ZIP Area
17
Density / Sq Mi
$97,344
Median Household Income
$45,855
Median Earnings
$840
Median Rent
$200,400
Median Home Value
Tools
Nearby Markets
Frequently Asked Questions
What zoning applies to commercial property in Lafayette?
Lafayette, MN zones 793 acres across 5 districts, of which 9.4% is commercial and 7.5% industrial. The largest single district is Agriculture And Rural Residence at 54.1% of zoned land. The A Zone is needed in order to protect the farm industry as a viable, long-term use in those incorporated areas that are furthest from urban growth and associated services. This also promotes new urban growth to occur closer to services in an efficient manner. Residential zoning covers 83.1% and open space 0%.
Where does Realmo's Lafayette market data come from?
Realmo compiles Lafayette, MN figures from 3 recent recorded sales, 1 active sale listings, 61 tracked off-market properties, the current Lafayette zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 1 active for-sale and 0 active for-lease listings in Lafayette, MN. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 793 zoned acres across 5 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Midwest region level, retail vacancy is reported at Midwest region level and industrial vacancy is reported at Midwest region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
