Lafayette is located in south Minnesota. Lafayette is between the Nicollet, Sibley county. Lafayette has 1.15 square miles of land area and has no water area. As of 2010-2014, the total Lafayette population is 492, which has shrunk 6.99% since 2000. The population growth rate is much lower than the state average rate of 9.44% and is much lower than the national average rate of 11.61%. Lafayette median household income is $49,432 in 2010-2014 and has grown by 34.62% since 2000. The income growth rate is higher than the state average rate of 29.12% and is higher than the national average rate of 27.36%. Lafayette median house value is $94,600 in 2010-2014 and has grown by 38.51% since 2000. The house value growth rate is lower than the state average rate of 51.31% and is lower than the national average rate of 46.91%. As a reference, the national Consumer Price Index (CPI) inflation rate for the same period is 26.63%. On average, the public school district that covers Lafayette is better than the state average in quality. The Lafayette area code is 507.