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Renter’s Guide to Lakeville, MN

Located in southeastern Minnesota in Dakota County, Lakeville is bordered by the communities of Burnsville, Farmington, Prior Lake, and Elko New Market.

In 2018, Lakeville was rated #28 in Money Magazine’s 50 Best Places to Live in America list, which considered the city’s affordability, quality of life, and economic growth. It has around 15% of the population of Minneapolis, and around 42,000 more residents than the nearby community of Farmington. The city is located about 25 miles away from Minneapolis, and there are about 89 miles between Lakeville and St. Cloud.

Lakeville’s climate is humid continental, with hot and humid summers, and cold winters. Lakeville experiences large temperature differences between seasons. Summer temperatures here average around 83ºF, although it can get as hot as 108ºF. Winter temperatures in the city average about 25ºF, though temperatures can get as cold as below -41ºF. Lakeville’s average annual rainfall is around 31 inches, which falls mostly in the spring and summer months. Lakeville can be affected by flooding, droughts, and winter blizzards.

Cost of Living in Lakeville, MN

The Minnesota Valley Transit Authority provides bus service between Lakeville and Minneapolis/St. Paul. Regular adult cash fare is $3.25 on weekdays and $2.50 on weekends, seniors pay $1, and children 5 and under ride for free. Day passes are also available.

Lakeville Taxi, Burnsville Taxi, Epic Taxi and Limo Services, JJ Taxi and Car Service, and All Metro Airport Taxi are just some of the taxi services available in Lakeville. The average fare price is $3.13 for 1 mile, with a $5 starting cost. The average commute time in Lakeville is about 24.6 minutes, which is less than the national average of 26.1 minutes. Those who use a personal vehicle in Lakeville can expect to pay around $2.60 for 1 gallon of gasoline.

A three-course meal for two people at a mid-priced restaurant in Lakeville costs about $65. The average price of a regular cappuccino in the city is around $4.21. The price of utilities such as electricity, heating, water, and garbage for a 915 sq. ft. apartment in Lakeville is about $157.89, which is slightly higher than the national average of $152.45.

Living in Lakeville, MN

Some of the pros of living in Lakeville include a low crime rate, attractive neighborhoods, great schools, and proximity to Minneapolis/St. Paul.

Some of the cons of living here include colder winters, heavier traffic during the rush hour commute, a higher cost of living than some cities, fewer entertainment options than larger cities, and fewer public transportation options compared to larger cities.

Things to Do in Lakeville, MN

One of the many fun things to do in Lakeville is visit the Lakeville Area Arts Center, which features exhibits of works by local artists. Pieces include paintings, pottery, mixed-media, photography, and handblown glass. Art classes are also offered at the center for people of all ages and abilities.

A great activity for kids in Lakeville is spending the day at Ritter Farm Park. Some of the many activities to do here include visiting the learning center, taking nature walks, having a picnic, going fishing, and going horseback riding. The park offers sheltered picnic areas and restrooms.

Enjoying the beach at Antlers Park Beach is a great activity for couples in Lakeville. The beach, situated along Lake Marion, includes a large swimming area, a fishing pier, playground equipment, volleyball courts, and picnic areas, as well as beautiful views of the lake.

Some of the best places to shop in Lakeville include Crossroads of Lakeville, Southfork Shopping Center, Argonne Village, and Downtown Lakeville Mall. The nearby community of Burnsville also offers great shopping at Burnsville Center.

Harry’s Scratch Kitchen, PORTERHOUSE Steak & Seafood Restaurant, Barley and Vine Kitchen and Bar, Buckboard, Teresa’s Mexican Restaurant, and Pho Everest Vietnamese Restaurant are some of the best restaurants in Lakeville.

The Lakeville Arts Festival is held in the city’s downtown every fall and has booths featuring pieces by more than 100 artists. Works include paintings, performances, pottery, photographs, sculptures, jewelry, glass, and mixed-media. An outdoor stage offers live music, there are plenty of food vendors, and visitors can experience hands-on demonstrations.

Employment & Economy in Lakeville, MN

Manufacturing, retail trade, finance and insurance, professional/technical/scientific services, educational services, health care and social assistance, and accommodation and food services are Lakeville’s major industries. Many residents also commute to Minneapolis or St. Paul for work.

The Airlake Industrial Park is situated on 1,500 acres and has approximately 200 tenants that employ around 4,500 people. Businesses operating in the park range from large corporations to smaller startup companies, and everything in between.

Lakeville’s unemployment rate is about 2.4 percent, which is much lower than the national rate of 3.6 percent.

Education in Lakeville, MN

Three school districts operate public schools in the city: Lakeville Area School District 194, Independent School District 196, and Farmington School District 192. Some of the top schools in Lakeville include Lake Marion Elementary School, Eastview Elementary School, Century Middle School, Mcguire Middle School, Lakeville South High School, and Lakeville North High School. There are also several private schools in the area.

There are no post-secondary options in Lakeville, but residents can find colleges and universities in nearby communities. Examples include Dakota County Technical College in Rosemount, Normandale Community College in Bloomington, and Carleton College in Northfield.

Tips for Renting in Lakeville, MN

Before searching for a rental unit in Lakeville, you should consider what some of your top priorities are when it comes to where you’d like to live. Will you need a parking space? Would you prefer one bedroom or two? Do you want to be closer to amenities or a little further out? All of these things can help you determine what your preferred rental unit might cost.

Once you know what you’re looking for, it’s important to determine what you can actually afford. Keep in mind that the rent cost will likely just be one expense, and that you may need additional funds for things like a security deposit, application fees, and advanced rent. Longer-term costs might include internet, insurance, electricity, and heat. Plan appropriately so you know how much you can spend upfront and per month.

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