Lakeville, MN 55044 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Lakeville, MN—55044

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$518,000

0.6% YoY Growth

Household Income

$141,000

26.1% YoY Growth

Days on Market

16.0% Longer YoY

Home Price Forecast

-1.6%

Median Rent

$2,500

8.6% YoY Growth

1-Bed Rent

$1,350

0.0% YoY Growth

2-Bed Rent

$1,930

1.4% YoY Growth

3-Bed Rent

$2,500

2.1% YoY Growth

Home Price Trends — Lakeville, MN

As of May '26, the median home price in Lakeville, MN is $518,000, with a year-over-year change of 0.6%. This indicates that home prices in Lakeville, MN are flat. According to Zillow, the 1-year price projection is -1.6%, suggesting a decrease housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$518,000	0.6%
Single Family	$521,000	0.6%
Condos	$285,000	-0.7%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Lakeville, MN

As of July '25, Rentcast reports the average rent in Lakeville, MN is $2,450, with a year-over-year rent change of -8.6%. Per bedroom, the median rent as of July '25 in Lakeville, MN is studios: $1,370, 1-bedrooms: $1,380, 2-bedrooms: $2,110, 3-bedrooms: $2,420, 4-bedrooms: $3,300. The most common rental property sizes in Lakeville, MN are 2-bedroom and 1-bedroom, accounting for 35.1% and 27.8% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$2,500	$2,450
Studio Rent	$1,330	$1,370
1 Bed Rent	$1,350	$1,380
2 Bed Rent	$1,930	$2,110
3 Bed Rent	$2,500	$2,420
4 Bed Rent	$3,000	$3,300

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% of Rental Stock

Studio

4.1%

1 Bedroom

27.8%

2 Bedrooms

35.1%

3 Bedrooms

22.6%

4 Bedrooms

6.2%

5+ Bedrooms

4.2%

Property Listings — Lakeville, MN

As of May '26, Realtor.com reports that the median days on market for a home in Lakeville, MN is 36. This is a increase of 16.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 24.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$600,000	2.0%
Listing Count	446	26.0%
Listings as % of Homes	1.1%	26.0%
Days on Market	36	16.0%

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Demographics — Lakeville, MN

As of the latest ACS Survey released in 2023, Lakeville, MN has a population of 63,300, which has increased by 18.2% over the past 5 years. Lakeville, MN is a popular place for families, as children make up 27.9% of the population. The area has a highly educated workforce, with 54.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 22.2% reporting working from home.

Metric	Latest Census	YoY % Change
Population	63,300	18.2%
% Under 18	27.9%	-3.5%
% Seniors	11.0%	8.9%
% WFH	22.2%	226.5%
% w/ College Degree	54.3%	2.1%

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As of the latest ACS Survey released in 2023, Lakeville, MN is a predominantly white area, with 79.8% of the population identifying as white. The white population has shrunk by 6.4% in the last 5 years. The second most common race or ethnicity in Lakeville, MN is hispanic, making up 6.2% of the population. Foreign-born residents account for 8.5% of the population in Lakeville, MN, and this percentage has increased by 7.6% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

Race and Ethnicity

Metric	Latest Census	5-Year % Change
% White	79.8%	-6.4%
% Black	4.0%	37.9%
% Hispanic	6.2%	93.8%
% Asian	5.8%	1.8%
% Foreign Born	8.5%	7.6%

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Mortgage and Risk — Lakeville, MN

According to HUD data as of 2023, there were 680 mortgage originations in Lakeville, MN, of which 92.0% of loans were conventional mortgages. The average loan-to-value was 53.0%, with 16.0% above 90% LTV (elevated). This implies medium mortgage risk in Lakeville, MN. Investor activity is low, as 2.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	680
% Conventional Loans	92.0%
% Government Loans	8.0%
% Investor Loans	2.0%
% Second Loans	1.0%
% Cash Out Refinance	9.0%

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Rentals and Section 8 — Lakeville, MN

As of 2024, the percent of homes in Lakeville, MN under the Section 8 program is 8.5%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Lakeville, MN, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.

Section 8 Market Size

Total Units under HUD	227
Total Units Section 8	219
% Rentals under Section 8	8.5%
% Occupied Section 8	96.5%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$400	$1,350	$1,750
2 Bedroom	$210	$1,930	$2,140
3 Bedroom	$350	$2,500	$2,850
4 Bedroom	$190	$3,000	$3,190

Lakeville, MN—55044

Key Metrics at a Glance

Home Price Trends — Lakeville, MN

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Lakeville, MN

% of Rental Stock

Property Listings — Lakeville, MN

Demographics — Lakeville, MN

Race and Ethnicity

Mortgage and Risk — Lakeville, MN

Mortgages

Rentals and Section 8 — Lakeville, MN

Section 8 Market Size

Section 8 Opportunity

Affordability — Lakeville, MN

Home Price to Income Ratio

Lakeville, MN — ZIP Code Boundary Map

Nearby ZIP Codes

Burnsville, MN

Elko New Market, MN

Elko New Market, MN

Apple Valley, MN

Prior Lake, MN

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.6
Median Home Price	$518,000
Median Household Income	$141,000

Lakeville, MN—55044

Key Metrics at a Glance

Home Price Trends — Lakeville, MN

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Lakeville, MN

% of Rental Stock

Property Listings — Lakeville, MN

Demographics — Lakeville, MN

Race and Ethnicity

Mortgage and Risk — Lakeville, MN

Mortgages

Rentals and Section 8 — Lakeville, MN

Section 8 Market Size

Section 8 Opportunity

Affordability — Lakeville, MN

Home Price to Income Ratio

Lakeville, MN — ZIP Code Boundary Map

Nearby ZIP Codes

Burnsville, MN

Elko New Market, MN

Elko New Market, MN

Apple Valley, MN

Prior Lake, MN

Frequently Asked Questions

What is the average home price in Lakeville, MN 55044?

How have home prices in Lakeville, MN 55044 changed over the past year?

What is the home price projection for Lakeville, MN 55044?

What are the demographics of Lakeville, MN 55044?

How long does it take homes to sell in Lakeville, MN 55044?

What is the average rent price in Lakeville, MN 55044?