Lakeville, MN


Highest Appreciating Lakeville Neighborhoods Since 2000

Lakeville, MN Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Lakeville Housing Market Information

With a population of 60,633, 19,595 total housing units (homes and apartments), and a median house value of $322,946, Lakeville house prices are not only among the most expensive in Minnesota, Lakeville real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Lakeville, accounting for 70.94% of the city's housing units. Other types of housing that are prevalent in Lakeville include row houses and other attached homes ( 18.17%), large apartment complexes or high rise apartments ( 4.49%), and a few mobile homes or trailers ( 4.01%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lakeville. Owner-occupied housing accounts for 87.47% of Lakeville's homes, and 70.94% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Lakeville built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Lakeville built between 2000 and later ( 32.35%). A lesser amount of the housing stock also hails from between 1940-1969 ( 7.99%). There's also some housing in Lakeville built before 1939 ( 2.18%).

Lakeville Home Appreciation Rates

Lakeville's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Lakeville during the period has been just -1.12%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Lakeville's appreciation rate, at 4.69%, has been at or slightly above the national average. In the latest quarter, Lakeville's appreciation rate has been 1.44%, which annualizes to a rate of 5.89%.

Relative to Minnesota, our data show that Lakeville's latest annual appreciation rate is higher than 50% of the other cities and towns in Minnesota.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Lakeville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lakeville - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Lakeville real estate investment or home purchase decisions.

Average Home Values


Median Home Value:


Value Range
> $1,158,000 0.2
$868,001 - $1,158,000 0.6
$579,001 - $868,000 4.9
$463,001 - $579,000 9.7
$348,001 - $463,000 18.8
$232,001 - $348,000 32.5
$116,001 - $232,000 26.8
$58,001 - $116,000 1.9
$0 - $58,000 4.6

Very High for MN
Very High for Nation

Value Relative to Nation Value Relative to State
14.3032930973866 8.2135523613963

Number Of Homes And Apartments:

Lakeville Appreciation Rates

Time Period Total Appreciation Avg. Annual Rate Compared To
Compared To
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
27.60% 1.42% 3 3
* 10 is highest

Rent & Ownership


Average Market Rent:
$1,648 / per month

Homeownership Rate

Owners 87.47
Renters 12.53
Vacant 2.76

Housing Market Details


Age of Homes

AGE OF Lakeville HOMES
2000 or Newer 32.4
1970 - 1999 57.5
1940 - 1969 8.0
1939 or Older 2.2

Types of Homes

Single-Family 70.9
Townhomes 18.2
Small Apt. Buildings 2.4
Apt. Complexes 4.5
Mobile Homes 4.0
Other 0.0

Home Size

No Bedroom 0.18
1 Bedroom 3.47
2 Bedrooms 13.62
3 Bedrooms 35.62
4 Bedrooms 35.32
5 or more bedrooms 11.79