Lakeville, MN — Momentum Score, Home Values & Best-For

All states·Minnesota·Lakeville

Dakota County · Minneapolis-St. Paul-Bloomington · population 77,971

Growing fast
Lakeville, MN
Image: Wikipedia · Lakeville, Minnesota
OverviewCost of livingMoving guide
View watchlist →
67
Rising
Momentum score · 0–100

Where Lakeville stands

At or near all-time high. population growing 2.9% per year.

Median home $489,773
1-year +0.7%
5-yr CAGR +3.1%
vs 5-yr peak -0.3%
Population +2.9%/yr

Home value trajectory · last 10 years

Zillow ZHVI · monthly
peak 2026-01$490k$288k$362k$437k$511k201620182020202220242026

Lifestyle scores

🚶
Walkability
40/100
Car-dependent
Estimated from population density. Higher = denser, more amenities within walking distance.
🚉
Public transit
22/100
Transit limited
Curated list of major US transit systems + population-based estimate. Higher = real subway/rail/bus options.
💻
Remote work fit
82/100
Excellent for remote work
Composite of city size, housing cost, state tax structure, and region's remote-work track record.

Scores are heuristic estimates from population density, state, and known transit/walkable cities. Not based on a paid Walk Score / Transit Score API — see methodology for the formula.

Rent trajectory · last 5 years

Zillow ZORI · monthly
$1,974/mo$1,485$1,789$2,093202220242026

Home value vs rent · indexed to 100

Both rebased at first month of ZORI data (~2015)
Home valueRent116125100120202220242026

Rent vs buy

Price-to-rent ratio: 20.7
Lean rent

At a 20.7 price-to-rent ratio, the math is starting to lean toward renting in Lakeville. Owner-occupier ROI requires longer holds and the assumption that prices keep appreciating roughly at the rate of rent.

How the momentum score breaks down

methodology →
Home YoY
53 · w22%
Home 5-yr CAGR
53 · w22%
Distance from peak
88 · w18%
Population growth
89 · w16%
Rent YoY
61 · w12%
Home 10-yr CAGR
59 · w10%
Long thesis

Lakeville has held up across the cycle: home values at $489,773 with +3.1% 5-year CAGR. The bull case is structural — population, location, employer base — and holds even if next year's print is soft.

Short thesis

Lakeville's bear case is the boring one: the cycle is real and any market that's run hard can stall. Watch for slowing population growth, rising days-on-market, or builder discounts as the early warning signals.

About Lakeville

Lakeville is a city in Dakota County, Minnesota, with an estimated population of 77,971. It anchors the Minneapolis-St. Paul-Bloomington metro area. The population has grown 2.9% per year on average between 2020 and 2024 — among the faster-growing communities in the state. The median home value in Lakeville is $489,773 as of 2026-04, up 0.7% over the last 12 months. Over the last five years, home values have averaged +3.1% annual growth, with prices at or near the 5-year peak. Rents in Lakeville average $1,974 per month, roughly flat year-over-year (+2.4%). The composite momentum score is 67 of 100 (Rising). The market is healthy with prices supported by underlying demand.

▲ Bull case

●People are voting with their feet: population growing 2.9% per year since 2020 — that’s faster than ~80% of US cities.
●Held the highs: currently -0.3% from the 5-year peak — this market refused to give back gains.

▼ Bear case

○Local nuance: city-level data smooths over neighborhood differences. School zones, HOA rules, and street-level character matter — visit before deciding.

About Lakeville (Wikipedia)

Lakeville is the largest city in Dakota County, Minnesota, United States. An exurb in the Minneapolis–Saint Paul metropolitan area, it is about 20 miles (32 km) south of both downtown Minneapolis and downtown St. Paul along Interstate 35. The population was 69,490 at the 2020 census, making it the ninth-most populous city in Minnesota.

Source: Wikipedia · this summary is contributed and licensed under CC-BY-SA.

City facts

MayorLuke Hellier
Area38.35 sq mi
Elevation1086 ft
Established1858
Density1898.95/sq mi

Extracted from the Wikipedia infobox. Values may be slightly out of date relative to the latest sources.

Playbook

Buyer

You're not in a frenzy but you're not getting bargains either. Make a competitive offer with normal inspection terms. Don't lowball — the listing will move with or without you.

Seller

Price at fair market value; expect movement in 30-45 days. Don't get clever with terms (rent-back, contingencies) — buyers in a Rising market have options.

Investor

Appreciation tailwind exists but cash flow requires discipline on price. Run the numbers conservatively and confirm rent comps before committing.

Local safety & alerts

No active National Weather Service alerts for Dakota County right now.

NWS active alerts (MN)Minnesota Emergency ManagementHow to prepare (NWS)

Public-safety links are official .gov sources, not curated by us. Dakota County routes NWS alerts; check the state EM portal for non-weather emergencies.

Cities like Lakeville

Shakopee, MN68 · RisingWoodbury, MN65 · RisingCottage Grove, MN69 · RisingBlaine, MN67 · Rising

Run the numbers for Lakeville

ToolCan I afford Lakeville?Income → city shortlistToolROI on a Lakeville rentalCap rate, cash-on-cash, DSCRToolCompare Lakeville to anywhereSide-by-side up to 3 citiesToolLakeville cost-of-livingEquivalent income elsewhere

Sources: Zillow ZHVI (home values), Zillow ZORI (rents), US Census ACS + place population. Updated when source agencies publish revisions.

Climate & natural-disaster risk

Winter (Jan)
22° / 4°
avg high / low
Summer (Jul)
82° / 62°
avg high / low
Sunny days/yr
198
~54% of year
Annual precip
28″ rain
45″ snow
Disaster risk (1=very low, 5=very high)
Hurricane
Very low
Tornado
High
Wildfire
Very low
Earthquake
Very low
Flood
Low

State-level averages from NOAA Climate Normals (1991-2020) and FEMA National Risk Index. City-level conditions can vary significantly within a state.

Local sports teams

Major professional teams the Minneapolis-St. Paul-Bloomington area cheers for. Detailed stats, schedules, and player pages on intherafters.com.

Current weather

Loading current conditions…

7-day forecast on weather.gov →

Find rentals & listings

Open current Lakeville listings on the major real-estate sites.

Links open the live search on the destination site — results are always current.

Local news & community

Updated 2026-05-21 from Google News + Reddit RSS. Headlines link to original sources.

Local economy & environment

Humidity
71%
Humid climate
Median household income
$84,300
Minnesota state median
Top industries (state-level)
Medical DevicesFinanceManufacturing

Humidity is annual average relative humidity (NOAA). Income is Census ACS 5-year estimate. Industries are largest employment sectors statewide (BLS); the local mix in a given city may vary.

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