Housing Market Overview
Housing market data including home prices, rent costs, affordability metrics, and housing stock characteristics.
$416,416
$1,727
Housing Market Overview
| Metric | Lakeville | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $416,416 | $243,729 | $242,182 |
| Price Trend (Annual %) | 21.2% | 7.9% | 8.2% |
| Median Gross Rent | $1,727 | $1,234 | $1,342 |
| Rent Trend (Annual %) | 5.2% | 5.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
Housing Cost & Rent Trends
Median Home Price Over Time
Lakeville
Minnesota
United States
Median Rent Over Time
Lakeville
Minnesota
United States
Affordability
On average, housing unit costs 3.0 yearly household incomes in Lakeville.
| Metric | Lakeville | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $416,416 | $243,729 | $242,182 |
| Median Household Income | $137,657 | $88,383 | $78,145 |
| Price-to-Income Ratio | 3.0 | 2.8 | 3.1 |
Home Prices vs Income Over Time
Home Prices
Household Income
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Household Income Growth %
Housing Cost Growth %
Occupancy & Tenure
| Metric | Lakeville | Minnesota Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 85.7% | 65.6% | 58.2% |
| Rental Rate | 11.9% | 25.0% | 31.3% |
| Vacancy Rate | 2.4% | 9.4% | 10.6% |
| Median Tenure (years) | 14.0 | 15.0 | 15.0 |
| Median Year Moved In | 2012 | 2011 | 2011 |
Housing Stock
| Metric | Lakeville | Minnesota Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.89 people | 2.44 people | 2.54 people |
| Median Structure Built Year | 1998 | 1976 | 1978 |
| Median Number of Rooms | 7.6 | 6.1 | 5.5 |