Lakeville, MN
Population 72,480 · Minnesota
About Lakeville, MN
Lakeville is a mid-sized city in Minnesota with a population of 72,480 residents. The median household income is $138,119 per year, which is above the national average. The median age in Lakeville is 36.9 years.
Housing in Lakeville has a median home value of $425,200 and median monthly rent of $1,727. Of the 25,576 total housing units, the majority are owner-occupied, with 21,921 owner-occupied and 3,038 renter-occupied units.
The unemployment rate in Lakeville is 2.3% and the poverty rate is 3.3%. 50.9% of residents hold a bachelor's degree or higher. The average commute time is 24.6 minutes.
How Lakeville Ranks in Minnesota
Cost of Living in Lakeville, MN
Compared to national averages, Lakeville has a median household income of $138,119 (84% above the national median of $75,149). Home values average $425,200, which is 74% above the national median. Monthly rent at $1,727 is 48% above the US average of $1,163. Within Minnesota, Lakeville's income is 86% above the state average of $74,221, and home values are 108% above the state median of $204,472.
Why Live in Lakeville, MN?
Lakeville offers a strong local economy with a median household income of $138,119, well above the national average, and a strong job market with an unemployment rate of just 2.3%, and a well-educated community where 50.9% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 3.3%, better than the national average, and short commute times averaging just 24.6 minutes.
Potential considerations include a competitive housing market where the typical home costs $425,200. However, as a mid-sized city, Lakeville provides access to a wide range of amenities and services.
Lakeville has a population of 72,480 with a median age of 36.9 years. Compare Lakeville with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Lakeville
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Blaine | 71,261 | $103,382 | $327,500 | Compare |
| Maple Grove | 70,539 | $129,481 | $397,400 | Compare |
| St. Cloud | 69,926 | $61,112 | $212,800 | Compare |
| Eagan | 68,158 | $107,486 | $380,800 | Compare |
| Woodbury | 76,945 | $126,222 | $434,900 | Compare |
| Plymouth | 79,526 | $133,865 | $474,700 | Compare |
| Burnsville | 64,295 | $83,953 | $335,100 | Compare |
| Coon Rapids | 63,348 | $86,618 | $287,200 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Minnesota
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Lakeville
What is the population of Lakeville, MN?
The population of Lakeville, MN is 72,480 according to the latest Census data.
What is the median household income in Lakeville?
The median household income in Lakeville, MN is $138,119 per year.
What is the median home value in Lakeville?
The median home value in Lakeville, MN is $425,200.
What is the average rent in Lakeville?
The median monthly rent in Lakeville, MN is $1,727.
What is the unemployment rate in Lakeville?
The unemployment rate in Lakeville, MN is 2.3%.