Lakeville, IN
Population 669 · Indiana
About Lakeville, IN
Lakeville is a small community located in Indiana with a population of 669 residents according to the latest US Census Bureau American Community Survey data. The median household income is $55,179 per year, which is 27% below the national median of $75,149. The median age of 39.2 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Lakeville features a median home value of $122,300, which is 50% below the national median of $244,900. This makes Lakeville one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $769, 34% below the national average of $1,163/month. Of the 405 total housing units, 43% are owner-occupied (143 units) and 57% are renter-occupied (188 units). The higher proportion of renters may reflect a transient population, younger demographics, or high housing costs relative to income.
Economy & Employment
The local economy in Lakeville shows an unemployment rate of 2.9%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 14.5%, above the national average of 12.4%. Workers in Lakeville have an average one-way commute time of 24.3 minutes.
Education & Demographics
14.5% of Lakeville residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 2.7% White, 0.3% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.0% of the population being foreign-born.
Cost of Living in Lakeville, IN
Compared to national averages, Lakeville has a median household income of $55,179 (27% below the national median of $75,149). Home values average $122,300, which is 50% below the national median. Monthly rent at $769 is 34% below the US average of $1,163. Within Indiana, Lakeville's income is 20% below the state average of $69,330, and home values are 25% below the state median of $163,409.
Why Live in Lakeville, IN?
Lakeville offers affordable housing with a median home value of $122,300, below the US average of $244,900, and rent that’s lower than the national average at $769/month, and a strong job market with an unemployment rate of just 2.9%. Additionally, the city features short commute times averaging just 24.3 minutes.
Potential considerations include median household income ($55,179) that falls below the national average. However, Lakeville’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Lakeville has a population of 669 with a median age of 39.2 years. Compare Lakeville with other cities to see how it stacks up, or explore all cities in Indiana.
Similar Cities Near Lakeville
Cities in Indiana with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Mecca | 670 | $42,917 | $57,000 | Compare |
| Pennville | 666 | $36,607 | $75,000 | Compare |
| Cynthiana | 663 | $75,625 | $115,600 | Compare |
| Sharpsville | 663 | $90,978 | $117,800 | Compare |
| Lake of the Woods | 658 | $64,375 | $189,600 | Compare |
| Reynolds | 655 | $55,625 | $105,900 | Compare |
| Camden | 651 | $53,977 | $98,700 | Compare |
| Dana | 650 | $53,005 | $53,900 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Indiana
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, IN?
The population of Lakeville, IN is 669 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Indiana.
What is the median household income in Lakeville?
The median household income in Lakeville, IN is $55,179 per year, which is 27% below the national median of $75,149.
What is the median home value in Lakeville?
The median home value in Lakeville, IN is $122,300, which is 50% below the national median of $244,900. A significant portion of residents rent their homes.
What is the average rent in Lakeville?
The median monthly rent in Lakeville, IN is $769, which is 34% below the national average of $1,163/month.
What is the unemployment rate in Lakeville?
The unemployment rate in Lakeville, IN is 2.9%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Lakeville, IN a good place to live?
Lakeville offers a moderate cost of living, affordable housing, and a strong job market. With a population of 669 and a median age of 39.2, the city appeals to a broad range of residents.
How educated is Lakeville, IN?
14.5% of residents in Lakeville aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Lakeville?
Key cost-of-living indicators for Lakeville, IN: median home value is $122,300 (50% below national), median rent is $769/month, and median household income is $55,179. The home-value-to-income ratio is 2.2x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Lakeville?
The poverty rate in Lakeville, IN is 14.5%, 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, IN?
Lakeville's population is 2.7% White, 0.3% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 0.0% of residents are foreign-born.