Lakeville, CT
Population 641 · Connecticut
About Lakeville, CT
Lakeville is a small community located in Connecticut with a population of 641 residents according to the latest US Census Bureau American Community Survey data. The median household income is $95,156 per year, which is 27% above the national median of $75,149. The median age of 56.3 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Lakeville features a median home value of $822,200, which is 236% above the national median of $244,900. This places Lakeville in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $0, 100% below the national average of $1,163/month. Of the 348 total housing units, 73% are owner-occupied (188 units) and 27% are renter-occupied (69 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Lakeville shows an unemployment rate of 0.0%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 15.4%, above the national average of 12.4%. Workers in Lakeville have an average one-way commute time of 28.6 minutes.
Education & Demographics
74.7% of Lakeville residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 0.0% White, 0.9% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 1.6% of the population being foreign-born.
How Lakeville Ranks in Connecticut
Cost of Living in Lakeville, CT
Compared to national averages, Lakeville has a median household income of $95,156 (27% above the national median of $75,149). Home values average $822,200, which is 236% above the national median. Monthly rent at $0 is 100% below the US average of $1,163. Within Connecticut, Lakeville's income is 23% below the state average of $123,065, and home values are 59% above the state median of $516,920.
Why Live in Lakeville, CT?
Lakeville offers a strong local economy with a median household income of $95,156, well above the national average, and rent that’s lower than the national average at $0/month, and a strong job market with an unemployment rate of just 0.0%. Additionally, the city features a well-educated community where 74.7% of residents hold a bachelor’s degree or higher.
Potential considerations include a competitive housing market where the typical home costs $822,200. However, Lakeville’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Lakeville has a population of 641 with a median age of 56.3 years. Compare Lakeville with other cities to see how it stacks up, or explore all cities in Connecticut.
Similar Cities Near Lakeville
Cities in Connecticut with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Gaylordsville | 659 | $115,398 | $467,500 | Compare |
| Norfolk | 608 | $85,313 | $325,000 | Compare |
| Cannondale | 677 | $250,001 | $1,892,900 | Compare |
| Candlewood Orchards | 683 | $120,469 | $368,000 | Compare |
| Murray | 688 | $250,001 | $970,800 | Compare |
| Botsford | 702 | $205,469 | $525,000 | Compare |
| Candlewood Isle | 569 | $250,001 | $981,000 | Compare |
| Lake Bungee | 566 | $83,936 | $248,800 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Connecticut
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Lakeville With Other Cities
Frequently Asked Questions about Lakeville
What is the population of Lakeville, CT?
The population of Lakeville, CT is 641 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Connecticut.
What is the median household income in Lakeville?
The median household income in Lakeville, CT is $95,156 per year, which is 27% above the national median of $75,149.
What is the median home value in Lakeville?
The median home value in Lakeville, CT is $822,200, which is 236% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Lakeville?
The median monthly rent in Lakeville, CT is $0, which is 100% below the national average of $1,163/month.
What is the unemployment rate in Lakeville?
The unemployment rate in Lakeville, CT is 0.0%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Lakeville, CT a good place to live?
Lakeville offers above-average incomes, a competitive housing market, and a strong job market. With a population of 641 and a median age of 56.3, the city appeals to established professionals and retirees.
How educated is Lakeville, CT?
74.7% of residents in Lakeville aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Lakeville?
Key cost-of-living indicators for Lakeville, CT: median home value is $822,200 (236% above national), median rent is $0/month, and median household income is $95,156. The home-value-to-income ratio is 8.6x, which suggests housing may be stretched relative to local earnings.
What is the poverty rate in Lakeville?
The poverty rate in Lakeville, CT is 15.4%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Lakeville, CT?
Lakeville's population is 0.0% White, 0.9% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 1.6% of residents are foreign-born.