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Lakeville Public

Learn about the people, housing, costs and businesses in Lakeville Public, Minnesota

Median Home$485,275
Median Rent$1,937/month
Population64,563
Leading IndustriesTransportation · Arts, Food & Hospitality · Healthcare4% transportation
Home Value Growth+8.7% over 2 years
Family-Friendly26% of residentsabove average nationally
Homeowners87% of occupied units
NotableHighly Educated33% bachelor's · 13% graduate · top 2% nationally
NotableHigh Incomes$135k/year · top 2% nationally
Lakeville Public
MN

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Real local data across mortgage, insurance, natural hazard, and place.

Frequently Asked Questions

What are today's mortgage rates in Lakeville Public?

As of today, the 30-year fixed mortgage rate for Lakeville Public is approximately 6.859% (6.894% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Lakeville Public?

The median home value in Lakeville Public is $485k. The median monthly rent is $1,937. Annual property taxes average $5k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Lakeville Public?

Home values in Lakeville Public have increased 8.7% over the past two years. This represents moderate growth. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Lakeville Public?

Based on a typical all-in ownership cost of $2,043/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $88k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Lakeville Public is $135k/year.

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What industries drive the economy in Lakeville Public?

The largest employment sectors in Lakeville Public are public administration (23%) and healthcare (12%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.