Lakeville city, Minnesota Demographics & Population 2026
As of 2026, Lakeville city, Minnesota has a total population of 72,480, the 9th largest city in Minnesota, with a median household income of $138,119, which is 58% higher than the state average. The poverty rate is 3.3%.
Key Takeaways
- Household income is 58% above the state average — one of the wealthiest communities in Minnesota.
- An exceptionally low poverty rate of 3.3% — among the lowest in Minnesota.
- 50.9% of adults hold a bachelor's degree or higher — top 10% in Minnesota.
- Near full employment with an unemployment rate of just 2.3%.
Lakeville city Quick Facts
How Lakeville city Compares
Median Household Income
Median Home Value
Economy & Housing
Household Income Distribution
Employment
Housing Overview
People & Demographics
Age Distribution
Race & Ethnicity
Diversity Index
A less diverse community where one racial or ethnic group represents a large majority.
State average: 40 | National average: 60
Education
Educational Attainment (Adults 25+)
Lakeville city Rankings in Minnesota
Explore Minnesota Rankings
Other Cities in Dakota County
| City | Population | Median Income | Poverty | Home Value |
|---|---|---|---|---|
| St. Paul city | 307,762 | $73,055 | 15.8% | $280,300 |
| Eagan city | 68,158 | $107,486 | 5.9% | $380,800 |
| Burnsville city | 64,295 | $83,953 | 8.7% | $335,100 |
| Apple Valley city | 55,696 | $99,277 | 5.9% | $354,200 |
| Inver Grove Heights city | 35,772 | $104,055 | 4.6% | $352,300 |
| Rosemount city | 26,509 | $127,247 | 2.9% | $406,100 |
| Farmington city | 23,675 | $118,556 | 3.8% | $345,100 |
| West St. Paul city | 21,076 | $70,738 | 9.1% | $281,800 |
| South St. Paul city | 20,633 | $84,472 | 9.1% | $266,800 |
| Mendota Heights city | 11,644 | $132,935 | 2.6% | $504,100 |
Cities Similar to Lakeville city
These cities in the same state have comparable population and economic profiles.
| City | Population | Median Income | Home Value | Bachelor's+ | Poverty |
|---|---|---|---|---|---|
| Maple Grove city | 70,539 | $129,481 | $397,400 | 55.9% | 3.9% |
| Woodbury city | 76,945 | $126,222 | $434,900 | 63.2% | 4.9% |
| Plymouth city | 79,526 | $133,865 | $474,700 | 64.8% | 4.1% |
| Blaine city | 71,261 | $103,382 | $327,500 | 36.1% | 6.5% |
| Eden Prairie city | 63,249 | $127,732 | $463,300 | 64.7% | 6.0% |
Population Overview
Lakeville city is a mid-sized community located in Minnesota, within Dakota County. The total population is 72,480. It ranks as the 9th most populous out of 913 cities and towns in Minnesota.
Age Demographics
The median age in Lakeville city is 36.9 years. This is 4% lower than the state median of 38.6 years.
Economy, Income & Housing
The median household income in Lakeville city is $138,119. This is 58% higher than the state median of $87,556. Compared to the national median of $78,538, household income here is 76% higher. The poverty rate stands at 3.3%. This is 64% lower than the state poverty rate of 9.2%. This exceptionally low poverty rate indicates strong economic prosperity across the community. The unemployment rate is 2.3%. This is 41% lower than the state rate of 3.9%. The median home value is $425,200. Housing costs are 39% higher than the state median of $305,500. The home-value-to-income ratio is 3.1x. 87.8% of occupied housing units are owner-occupied. This homeownership rate is 21% higher than the state average of 72.4%.
Race & Ethnicity
The largest racial or ethnic group in Lakeville city is White (non-Hispanic), making up 79.0% of the population. Hispanic or Latino residents account for 6.1%.
Education
50.9% of residents aged 25 and older hold a bachelor's degree or higher. This places Lakeville city in the top 10% of all cities in the state for educational attainment. This is 31% higher than the state rate of 38.8%. Nationally, 35.0% of adults hold at least a bachelor's degree. The high school graduation rate (or equivalent) is 97.1%. Notably, 16.1% of adults hold a graduate or professional degree, indicating a highly educated workforce.
Data Sources & Methodology
All demographic data for Lakeville city, Minnesota is sourced from the U.S. Census Bureau's American Community Survey (ACS) 5-Year Estimates (2019-2023). The ACS collects data from approximately 3.5 million households annually, providing reliable estimates for communities of all sizes. Comparisons are made against Minnesota state averages and national averages calculated from the same dataset. Rankings reflect the city's position among all 913 Census-designated places in Minnesota. For official data, visit data.census.gov.
Free data download: Get all Minnesota city and county demographics as CSV. Download Cities CSV | Download Counties CSV
Frequently Asked Questions
What is the population of Lakeville city, Minnesota?
Lakeville city, Minnesota has a population of 72,480 according to the most recent U.S. Census ACS 5-Year Estimates.
What is the median household income in Lakeville city, MN?
The median household income in Lakeville city is $138,119, which is 76% higher the national median of $78,538.
What is the poverty rate in Lakeville city, MN?
The poverty rate in Lakeville city is 3.3%. This means approximately 2,379 residents live below the federal poverty line.
What is the racial makeup of Lakeville city, Minnesota?
Lakeville city's population is 79.0% White, 4.2% Black, 6.1% Hispanic/Latino, and 5.7% Asian.
What is the median home value in Lakeville city, MN?
The median home value in Lakeville city is $425,200. The home-value-to-income ratio is 3.1x.
How educated is Lakeville city, Minnesota?
50.9% of adults (25+) in Lakeville city hold a bachelor's degree or higher, and 16.1% hold a graduate or professional degree.