Lakeville, MN housing market
The typical Lakeville home is worth about $485,000, up 1% in a year, 38% above the Minnesota typical home. Homes typically sell in 31 days, close to asking.
Home values, sales, trends and how Lakeville compares with the towns next door — updated as new data is published.
Lakeville at a glance
A seller's market
Supply is tight — about 2.7 months of homes for sale at the current pace. Buyers should expect competition on well-priced homes.
Typical home value, 2016–2026
Show as a table
| January | Lakeville | Minnesota |
|---|---|---|
| 2017 | $321,000 | $217,000 |
| 2018 | $338,000 | $232,000 |
| 2019 | $353,000 | $246,000 |
| 2020 | $366,000 | $259,000 |
| 2021 | $398,000 | $282,000 |
| 2022 | $453,000 | $313,000 |
| 2023 | $470,000 | $325,000 |
| 2024 | $470,000 | $331,000 |
| 2025 | $482,000 | $341,000 |
| 2026 | $486,000 | $349,000 |
| August 2026 | $485,000 | $351,000 |
Lakeville and its neighbors
| Town | Typical value | 1-yr change | Days on market | Median income |
|---|---|---|---|---|
| Lakeville | $485K | +1% | 31 | $139,041 |
| Farmington | $400K | +1.4% | 24 | $123,673 |
| Credit River | — | — | 14 | $143,125 |
| Apple Valley | $376K | +1.5% | 19 | $97,673 |
| Burnsville | $369K | +2.4% | 19 | $87,024 |
| Empire | — | — | 10 | $147,700 |
3.5 years of income
The typical Lakeville home costs about 3.5 years of the town's median household income, less than across Minnesota (3.9 years).
How Lakeville ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Listings link to their publishers.