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The median home value in Lakeville, MN is $491,340 as of 2026-07-31, up 1.0% from a year earlier.
Median Home Value
$491,340
Year-over-Year
+1.0%
Population
78,436
Lakeville ranks #13 of 112 Minnesota cities tracked here by median home value, and sits 38.0% above the state's city median of $355,920. It sits in Dakota County, where the county-wide median is $400,941.
Median household income in Lakeville is $139,041, so the typical home value is about 3.5× annual household income. This is a simple price-to-income benchmark rather than a monthly payment estimate; it does not account for mortgage rates, down payments, taxes or insurance.
Household income comes from the U.S. Census Bureau's ACS 5-Year Estimates, table B19013 (how the affordability measure works).
Lakeville police recorded a violent crime rate of 76 per 100,000 residents in 2024 — lower than most cities that report to the FBI. Property crime runs at 571 per 100,000.
Reported by the city's own police department to the FBI's Uniform Crime Reporting Program (what this covers).
People often call this an average home price, but the figure shown here is Zillow's typical home value (ZHVI), not a simple arithmetic average. In Lakeville, that value is $491,340. That's up 1.0% from a year earlier. It is about 38.0% above the typical Minnesota city tracked here.
Homes in Lakeville are more expensive than Dakota County as a whole, where the median is $400,941 — a difference of about 22.5%.
Median household income here is $139,041, so the typical home value is about 3.5× annual household income. This ratio is a broad comparison measure, not a mortgage-payment estimate.
Lakeville police reported 76 violent crimes per 100,000 residents, covering a population of about 78,436. Crime rates are one input among many — they vary block to block within a city, and this figure is a citywide average.
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