Lakeville, MN Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2021-02-06
116
Lakeville's Overall Cost Of Living
1.2x
Higher Than The National Average
123 out of 147
In Minnesota
4,569 out of 6,399
In America
The cost of living index is set to 100 for the average place in America. An index above 100 means Lakeville is expensive, while a number below 100 means it's a relatively cheap place to live.

What is the cost of living in Lakeville, MN?

According to the most recent data on the cost of living, Lakeville has an overall cost of living index of 116 which is 1.2x higher than the national index of 100.

Compared to only Minnesota, Lakeville has a cost of living index that's 1.1x higher than Minnesota's index of 104.

The standard of living in Lakeville ranks as #4,571 most affordable out of the 6,522 places we measured in Minnesota. By definition, that implies Lakeville ranks as the #1,835 most expensive place in the North Star State.

For more reading on life in Lakeville, check out:

Lakeville Cost Of Living Vs. Minnesota

Living Expense Lakeville Minnesota National Average
Overall 116 104 100
Services 113 109 100
Groceries 103 106 100
Health 103 110 100
Housing 137 100 100
Transportation 104 100 100
Utilities 97 98 100
For more reading on cost of living around Minnesota, check out:
Lakeville Cost of Living Vs. MN

Lakeville, MN Housing Cost Breakdown

Housing swings affordability the most between places in Minnesota, so we broke down the statistics around housing costs into more detail. It's also important to consider median household incomes to make apples-to-apples comparisons across locations.

Home and income come data comes from the most recent US Census ACS 2014-2018.

$311,100
Median Home Value
$1,360
Median Rent
$110,212
Median Income
Statistic Lakeville Minnesota United States
Median Home Value $311,100 $223,900 $217,500
Median Rent $1,360 $977 $1,062
Median Income $110,212 $71,306 $62,843
Home Value To Income 2.8x 3.1x 3.5x
Rent To Monthly Income 0.15x 0.16x 0.2x

Detailed Lakeville Services Costs Vs. Minnesota

Item Lakeville Minnesota
Shampoo $1.08 $1.01
Movie $10.43 $10.72
Bowling $21.05 $13.86

Detailed Lakeville Groceries Costs Vs. Minnesota

Item Lakeville Minnesota
Ground Beef $4.52 $3.9
Fried Chicken $2.1 $1.4
Milk $2.62 $1.96

Detailed Lakeville Health Costs Vs. Minnesota

Item Lakeville Minnesota
Haircut $24.49 $17.49
Beauty Salon $34.71 $38.17
Toothpaste $3.37 $2.32

Detailed Lakeville Transportation Costs Vs. Minnesota

Item Lakeville Minnesota
Potatoes $3.36 $3.18
Pizza $12.73 $10.39
Beer $8.91 $9.23
Optometrist $89.9 $106.34
Doctor $150.44 $115.25
Dentist $85.78 $98.38

Detailed Lakeville Utilities Costs Vs. Minnesota

Item Lakeville Minnesota
Gasoline $2.47 $2.59
Tire Balancing $59.72 $48.9
All Electricity $162.02 $167.6
Phone $178.08 $163.42

Lakeville SnackAbility

9.5
/10
Overall SnackAbility
Jobs
9/10
Housing
9
Affordability
8.5
Diversity
7
Safety
8.5
Amenities
8.5
Education
9
Commute
6

Cost Of Living In Cities Around Lakeville

City Population Cost Of Living Vs. Lakeville
Bloomington, MN 85,332 110 0.9x
Eagan, MN 66,379 114 1.0x
Eden Prairie, MN 64,179 123 1.1x
Burnsville, MN 61,311 109 0.9x
Apple Valley, MN 52,889 110 0.9x
Edina, MN 51,746 135 1.2x
Cottage Grove, MN 36,602 111 1.0x
Richfield, MN 36,063 105 0.9x
Savage, MN 31,254 116 1.0x
Prior Lake, MN 26,365 118 1.0x

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