Lakeville, Minnesota Real Estate Market Analysis

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Lakeville, Minnesota

1 ZIP in this city:55044

Market Hotness

Hotness Rank

Hotness Score

Supply Score

Demand Score

DOM vs US

-17.0%

Faster

Price vs US

130%

Above avg

Median Listing Price

$558K

Population

64,762

Households

22,460

Median Days on Market

Active Listings

292

New Listings

118

Housing Market

Pricing

Median Listing Price

$558K-6.9% YoY

Average Listing Price

$629K-3.9% YoY

Price per Sq Ft

$204-3.3% YoY

Median Sq Ft

2,744-1.3% YoY

Inventory

Active Listings

292+41.1% YoY

New Listings

118+20.4% YoY

Total Listings

459+33.8% YoY

Buyer Competition

Pending Listings

167+23.7% YoY

Pending Ratio

0.57-12.6% YoY

Median Days on Market

40-11.1% YoY

Price Reduced

18.0%+0.1% YoY

Units & Occupancy

2024 Occupancy

179Kunits

Occupied174,36297.5%
Vacant4,5172.5%

2024 Tenure

174Koccupied

Owner130,67574.9%
Renter43,68725.1%

Renter Share

25.1%+1.7% YoY

Total Housing Units

178,879+1.4% YoY

FY2026 Fair Market Rent — Dakota County

HUD government estimate (40th percentile) — not actual market asking rent.

Studio

$1,242

/month

1 BR

$1,405

/month

2 BR

$1,709

/month

3 BR

$2,262

/month

4 BR

$2,531

/month

FMR Trends — Dakota County

Source: HUD Fair Market Rents

ZIP Profile

U.S. Census ACS characteristics rolled up across the ZIP Code Tabulation Areas in this area, not the parent county.

Population & Age

Total Population

64,762+2.3% YoY

2024 Age Mix

65Kresidents

Under 1818,25728.2%
Adults 18–6439,10960.4%
65 & Over7,39611.4%

Age Composition Over Time2019–2024

Population growth (first year = 100)

Share of population (change in pp)

Under 18Adults 18–6465 & Over

Median Age

37.10-0.5% YoY

Population Under 18

18,257+3.3% YoY

Population 65 & Over

7,396+6.1% YoY

Households & Mobility

Total Households

22,460+2.6% YoY

Household Types

--Not reported for this area (ACS).

Avg Household Size

2.880.0% YoY

2024 Residential Mobility

of residents

Same house90.6%
Moved (within US)9.2%
Other0.2%

Veterans

5.5%+12.2% YoY

Income & Poverty

Median Household Income

$142K+0.7% YoY

Per-Capita Income

$60K+1.2% YoY

Mean Household Income

$172K+0.9% YoY

Below Poverty Level

3.0%-3.2% YoY

Commuting

2024 Commute Mode

of workers

Drove alone65.0%
Public transit1.1%
Worked from home25.1%
Other8.8%

Worked From Home

25.1%+13.1% YoY

Mean Commute

23.60-3.7% YoY

Units & Tenure

Total Housing Units

23,079+2.5% YoY

2024 Occupancy

23Kunits

Occupied22,46097.3%
Vacant6192.7%

2024 Tenure

22Khouseholds

Owner19,77488.0%
Renter2,68612.0%

Avg Household Size — Owner

2.98-0.3% YoY

Avg Household Size — Renter

2.130.0% YoY

County Demographics

Median Age

38.62024

Population

Dakota County Population

453,156+1.0% YoY

Households

Total Households

174,362+1.6% YoY

Household Types

--Not reported for this area (ACS).

Avg Household Size

2.54-0.8% YoY

Age

2024 Age Mix

446Kresidents

Under 18106,82324.0%
Adults 18–64268,16160.2%
65 & Over70,78715.9%

Age Composition Over Time2017–2024

Population growth (first year = 100)

Share of population (change in pp)

Under 18Adults 18–6465 & Over

Population Under 18

106,823-0.1% YoY

Population 65 & Over

70,787+4.2% YoY

Median Age

38.60+0.5% YoY

Mobility & Veterans

2024 Residential Mobility

of residents

Same house89.0%
Moved (within US)10.5%
Other0.5%

Veterans

5.9%-4.8% YoY

County Economy

Income

Median Household Income

$106K+1.1% YoY

Per-Capita Income

$52K+2.3% YoY

Mean Household Income

$131K+1.4% YoY

Poverty

Below Poverty Level

5.8%+3.6% YoY

Transportation to Work

2024 Commute Mode

of workers

Drove alone67.8%
Public transit1.2%
Worked from home21.3%
Other9.7%

Worked From Home

21.3%+12.7% YoY

Mean Commute

23.60-2.1% YoY

Lakeville, Minnesota

1 ZIP in this city:55044

Market Hotness

Hotness Rank

Hotness Score

Supply Score

Demand Score

DOM vs US

-17.0%

Faster

Price vs US

130%

Above avg

Median Listing Price

$558K

Population

64,762

Households

22,460

Median Days on Market

Active Listings

292

New Listings

118

Housing Market

Pricing

Median Listing Price

$558K-6.9% YoY

Average Listing Price

$629K-3.9% YoY

Price per Sq Ft

$204-3.3% YoY

Median Sq Ft

2,744-1.3% YoY

Inventory

Active Listings

292+41.1% YoY

New Listings

118+20.4% YoY

Total Listings

459+33.8% YoY

Buyer Competition

Pending Listings

167+23.7% YoY

Pending Ratio

0.57-12.6% YoY

Median Days on Market

40-11.1% YoY

Price Reduced

18.0%+0.1% YoY

Units & Occupancy

2024 Occupancy

179Kunits

Occupied174,36297.5%
Vacant4,5172.5%

2024 Tenure

174Koccupied

Owner130,67574.9%
Renter43,68725.1%

Renter Share

25.1%+1.7% YoY

Total Housing Units

178,879+1.4% YoY

FY2026 Fair Market Rent — Dakota County

HUD government estimate (40th percentile) — not actual market asking rent.

Studio

$1,242

/month

1 BR

$1,405

/month

2 BR

$1,709

/month

3 BR

$2,262

/month

4 BR

$2,531

/month

FMR Trends — Dakota County

Source: HUD Fair Market Rents

ZIP Profile

U.S. Census ACS characteristics rolled up across the ZIP Code Tabulation Areas in this area, not the parent county.

Population & Age

Total Population

64,762+2.3% YoY

2024 Age Mix

65Kresidents

Under 1818,25728.2%
Adults 18–6439,10960.4%
65 & Over7,39611.4%

Age Composition Over Time2019–2024

Population growth (first year = 100)

Share of population (change in pp)

Under 18Adults 18–6465 & Over

Median Age

37.10-0.5% YoY

Population Under 18

18,257+3.3% YoY

Population 65 & Over

7,396+6.1% YoY

Households & Mobility

Total Households

22,460+2.6% YoY

Household Types

--Not reported for this area (ACS).

Avg Household Size

2.880.0% YoY

2024 Residential Mobility

of residents

Same house90.6%
Moved (within US)9.2%
Other0.2%

Veterans

5.5%+12.2% YoY

Income & Poverty

Median Household Income

$142K+0.7% YoY

Per-Capita Income

$60K+1.2% YoY

Mean Household Income

$172K+0.9% YoY

Below Poverty Level

3.0%-3.2% YoY

Commuting

2024 Commute Mode

of workers

Drove alone65.0%
Public transit1.1%
Worked from home25.1%
Other8.8%

Worked From Home

25.1%+13.1% YoY

Mean Commute

23.60-3.7% YoY

Units & Tenure

Total Housing Units

23,079+2.5% YoY

2024 Occupancy

23Kunits

Occupied22,46097.3%
Vacant6192.7%

2024 Tenure

22Khouseholds

Owner19,77488.0%
Renter2,68612.0%

Avg Household Size — Owner

2.98-0.3% YoY

Avg Household Size — Renter

2.130.0% YoY

County Demographics

Median Age

38.62024

Population

Dakota County Population

453,156+1.0% YoY

Households

Total Households

174,362+1.6% YoY

Household Types

--Not reported for this area (ACS).

Avg Household Size

2.54-0.8% YoY

Age

2024 Age Mix

446Kresidents

Under 18106,82324.0%
Adults 18–64268,16160.2%
65 & Over70,78715.9%

Age Composition Over Time2017–2024

Population growth (first year = 100)

Share of population (change in pp)

Under 18Adults 18–6465 & Over

Population Under 18

106,823-0.1% YoY

Population 65 & Over

70,787+4.2% YoY

Median Age

38.60+0.5% YoY

Mobility & Veterans

2024 Residential Mobility

of residents

Same house89.0%
Moved (within US)10.5%
Other0.5%

Veterans

5.9%-4.8% YoY

County Economy

Income

Median Household Income

$106K+1.1% YoY

Per-Capita Income

$52K+2.3% YoY

Mean Household Income

$131K+1.4% YoY

Poverty

Below Poverty Level

5.8%+3.6% YoY

Transportation to Work

2024 Commute Mode

of workers

Drove alone67.8%
Public transit1.2%
Worked from home21.3%
Other9.7%

Worked From Home

21.3%+12.7% YoY

Mean Commute

23.60-2.1% YoY