Cost of Living in Lakeville, MN
Population: 72,480 • 2026 Data
$138,119
Median Household Income
+78% vs national
$1,727
Median Monthly Rent
+28% vs national
$425,200
Median Home Value
+25% vs national
2.3%
Unemployment Rate
Housing in Lakeville
The median home value in Lakeville, MN is $425,200. Monthly rent for a typical unit averages $1,727, while total monthly housing costs (including utilities and insurance) average $1,977.
Rent-to-income ratio: 15.0%. This is within the recommended 30% threshold, suggesting housing is relatively affordable for median-income earners.
Income and Employment
The median household income in Lakeville, MN is $138,119. The unemployment rate stands at 2.3%, with a labor force of 40,919 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.