Home prices
The value of the median home in Lakeville is $311,100. This is approximately $33,180 (11%) higher in comparison to its nearby areas.Compared to the rest of the country it is about $93,600 (43%) higher, and is roughly $59,500 (23%) higher in comparison to the city of Minneapolis.
Rents
The median rent in Lakeville is $1,360 a month. It is about $148 (12%) higher in comparison to its nearby areas.It is approximately $298 (28%) higher compared to the US as a whole, and compared to the city of Minneapolis is roughly $333 (32%) higher.
Nearby places
Farmington
Farmington is Lakeville's neighbor to the east. The real estate prices there are a bit less expensive. The price of the median home in Farmington is $254,200, which works out to $56,900 (22%) lower than Lakeville. Rent there is a little less expensive. Farmington's median rent is $1,052 per month, which comes out to $308 (29%) lower than Lakeville.
Apple Valley
Apple Valley is Lakeville's neighbor to the northeast. The housing prices there are a bit less expensive. The value of the median home in Apple Valley is $258,000, which works out to $53,100 (20%) lower than Lakeville. The rent there is pretty similar. The median monthly rent in Apple Valley is $1,353, which is very similar to Lakeville.
Burnsville
Burnsville is Lakeville's neighbor to the north. Its housing prices are somewhat less expensive. Burnsville's median home value is $247,500, which comes out to $63,600 (25%) lower than Lakeville. The rent there is a bit less expensive. In Burnsville the median rent is $1,228 per month, which works out to $132 (10%) lower than Lakeville.
Savage
Savage is approximately 6 miles northwest of Lakeville. The housing prices there are fairly similar. The cost of the median home in Savage is $307,500, which works out to $3,600 (1%) lower than Lakeville. Rent there is a little less expensive. Savage's median monthly rent is $1,286, which comes out to $74 (5%) lower than Lakeville.
Prior Lake
Prior Lake is approximately 8 miles west of Lakeville. Housing prices there are similar. The median home in Prior Lake costs $322,400, which is $11,300 (3%) higher than Lakeville. Its rents are a bit less expensive. The median rent in Prior Lake is $1,143 a month, which is $217 (18%) lower than Lakeville.
