The South Branch of the Root River flows through it, with a waterfall dam across from Sylvan Park.

An Amish community is in the area and the town is home to many unique shops and restaurants, and a professional stage theater.

[7] According to the United States Census Bureau, the city has a total area of 1.32 square miles (3.42 km2), all land.

Author John Villani named the community one of the 100 Best Small Art Towns in America.

[10] Since 1989, Lanesboro has been home to the Commonweal Theatre Company, a professional ensemble dedicated to celebrating the human condition through actor-based storytelling.

Each year, the Commonweal offers 4-6 plays ranging from Ibsen to family-friendly entertainment to holiday classics.

During the summer months, two plays run in repertory, giving visitors the opportunity to see two different shows during their stay.

A live one-hour radio show, "Over the Back Fence," is broadcast each Sunday evening from the theater during the summer months with tickets sold at the door.

This $3.5 million home seats 191 patrons in a thrust auditorium with an exterior designed to complement historic Lanesboro.

In 2007, Garrison Keillor broadcast A Prairie Home Companion from the Lanesboro softball field and featured stories and songs about rhubarb.