Lakeville shares many of the great qualities that make Minnesota a desirable place to live.
Minnesota, known as the "Land of 10,000 Lakes", boasts breathtaking landscapes and a thriving arts and cultural community that enchants you. Immerse yourself in Minnesota's roots and history through the City Museum and the Science Museum of Minnesota, or invest in your education through the University of Minnesota, St. Cloud State University, and Minnesota State University, Mankato. In addition, residents can enjoy a vibrant arts and cultural scene in the Twin Cities of Minneapolis and St. Paul, including the famous Walker Art Center and the Minnesota Orchestra, providing a wealth of entertainment options.
Sports enthusiasts can enjoy cheering on professional teams such as the Minnesota Vikings (NFL), Minnesota Twins (MLB), and Minnesota Timberwolves (NBA), providing ample opportunities for excitement. Explore famous attractions like the Mall of America, the James J. Hill House, and the historic town of Duluth, each providing a unique glimpse into Minnesota's history and culture. In addition, the state offers many outdoor recreation opportunities, from boating and fishing in its 10,000 lakes to skiing in the Minnesota River Valley.
Minnesota offers a unique blend of natural beauty, quality of life, and affordability, making it a great place to call home.
As of October 2026, Lakeville's rental market is competitive, with rentals spending about 35 days on the market, faster than in Minnesota (40), and rents up 0.6% over the past year. Lakeville's average rent is 20.1% ($339) higher than the Minnesota average of $1,683 and 2.9% ($60) lower than the U.S. average of $2,082.
| Unit Type | Average Rent | Monthly ChangeMonth Over Month Change | Yearly ChangeYear Over Year Change |
|---|---|---|---|
| 1 Bed | $1,534 | 0.01% | 1.1% ($17) |
| 2 Beds | $1,999 | 0.20% ($4) | 1.2% ($24) |
| 3 Beds | $2,721 | 0.38% ($10) | 2.8% ($74) |
| Nearby Cities | Average Rent | Avg. Rent vs. LakevilleAverage Rent vs. Lakeville | Days on Market |
|---|---|---|---|
| Prior Lake | $1,934 | 4.4% ($88) | 38 days |
| Farmington | $1,704 | 15.7% ($318) | 37 days |
| Burnsville | $1,749 | 13.5% ($273) | 37 days |
| Savage | $1,884 | 6.8% ($138) | 40 days |
| Rosemount | $2,101 | 3.9% ($79) | 38 days |
Explore rental prices, market conditions, and affordability in Lakeville, MN.
Explore recent posts on our blog, curated for renters, landlords, and industry pros.
