Lakeville, MN Cost of Living


8 Reviews



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Lakeville cost of living score
106.1
More expensive
6.1% higher
than the US average
9.2% higher
than the Minnesota average
Lakeville, Minnesota gets a BestPlaces Cost of Living score of 106.1, which means the total cost of housing, food, childcare, transportation, healthcare, taxes, and other necessities is 6.1% higher than the U.S. average and 9.2% higher than the average for Minnesota.

Lakeville, MN

Housing costs in Lakeville?
A typical home costs $441,000, which is 30.4% more expensive than the national average of $338,100 and 42.5% more expensive than the average Minnesota home, at $309,500. Renting a two-bedroom unit in Lakeville costs $1,750 per month, which is 22.4% more than the national average of $1,430 and 29.1% more than the state average of $1,240.

Can I afford Lakeville?
To live comfortably in Lakeville, Minnesota, a minimum annual income of $84,600 for a family, and $56,800 for a single person is recommended.

What does A.I. say about Lakeville?
Lakeville is just south of Minneapolis in Minnesota with a population estimated at 65 thousand people. This city offers residents an overall cost of living that is below the US average due to an abundance of employment opportunities available in the area and access to excellent schools which make living here attractive for families looking for an affordable yet high quality lifestyle. Additionally, this city also provides plenty of enjoyable attractions such as parks, art galleries and various eateries perfect for any night out on the town or weekend getaway.
   Cost of living score
     CategoriesLakevilleMinnesotaUnited States
  106.197.2100.0
  103.497.2100
  74.778.3100.0
  140.5102.9100.0
  $441,000$309,500$338,100
  96.6%95.7%100.0%
  108.396.4100.0
  140.3117.4100.0

   100=National Average

   Average Rent by Bedroom Size
Reviews for Lakeville
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We lived in Lakeville for 3 years (2015-18). My husband and I have traveled all over the country. We've lived in California, Hawaii, Arizona, Colorado and Minnesota.  More

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I’ve grown up in Lakeville for 20 years. I know this area better than the back of my hand. The schools are excellent, especially North HS. The housing is cheap and  More

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I have found Lakeville to have many amenities and its nice its so close to the Twin Cities. HOWEVER, unless have bunches of money in your pocket or are a local you will  More

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