Pervaiz Maseech died on Monday from trauma he sustained after being hit on the head with an iron rod during the fight.
Several of the injured remain in critical condition.
Police told Dawn that the clash was not related to religious tensions, but pertained to a local dispute.
It was not the first time the community had erupted in violence. On Sunday, the same fight had taken place, but Lahore police, busy with the HBL Pakistan Super League (PSL), were unable to respond.
On Monday, nearly 200 people gathered on the street and began chanting slogans and hurling abuses towards one another.
Pervaiz, who lived on the same street, went outside to confront the group. It was then that several in the group, carrying guns, began aerial firing.
Pervaiz was surrounded by the mob and beaten on the back of his head with an iron rod, Friday Times reported.
News of the young man’s death spread quickly among the Christian community, and police remained on the scene to quash the simmering unrest.
Police have arrested a suspect and have registered a murder FIR against others involved. (IANS)