Lakeville, MN Rental Market Trends
Highlights
The average rent for an apartment in Lakeville is $1,445, a 7% increase compared to the previous year, when the average rent was $1,354.
Average Rent in Lakeville, MN
| Average Rent | Y-o-Y Change | Average Apartment Size |
|---|---|---|
| $1,445 | 7% | 996 sq. ft. |
The average size for a Lakeville, MN apartment is 996 square feet, but this number varies greatly depending on unit type, with cheap and luxury alternatives for houses and apartments alike. Studio apartments are the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer a more generous square footage.
Lakeville, MN Apartment Rent Ranges
- $1,001-$1,50070%
- $1,501-$2,00029%
- > $2,0001%
Lakeville, MN Occupied Housing Units
- Renter-occupied Households19%
- Owner-occupied Households80%
4,108 or 19% of the households in Lakeville, MN are renter-occupied while 16,717 or 80% are owner-occupied.
Lakeville, MN Rent Trends
| Average Rent | Mar / 2017 | Jul / 2017 | Nov / 2017 | Mar / 2018 | Jul / 2018 | Nov / 2018 | Mar / 2019 | Jul / 2019 | Jan / 2020 |
|---|---|---|---|---|---|---|---|---|---|
| Lakeville, MN | $1,255 | $1,283 | $1,261 | $1,299 | $1,299 | $1,354 | $1,358 | $1,462 | $1,445 |
| National | $1,347 | $1,379 | $1,381 | $1,384 | $1,420 | $1,429 | $1,433 | $1,469 |
How Lakeville Compares to Other Cities
| Average Rent | Y-o-Y Change | |
|---|---|---|
| Minneapolis | $1,590 | 3% |
| St. Paul | $1,298 | 4% |
| Bloomington | $1,448 | 5% |
| St. Louis Park | $1,622 | 4% |
| Edina | $1,509 | 5% |
| Eagan | $1,324 | 4% |
| Apple Valley | $1,424 | 4% |
| Burnsville | $1,273 | 4% |
| Richfield | $1,120 | 3% |
| Shakopee | $1,227 | 2% |
| Lakeville | $1,445 | 7% |
For more information about the Lakeville rental trends, check out our monthly rent report
Check out Minnesota Cities, Minnesota Neighborhoods and Minnesota Zip Codes for more details on verified listings, including the Minnesota Average Rent.
Curious about listings in your area? Check out our apartments near you for more details!