Rentometer, Inc. | Data as of 01/10/2026
Lakeville, Minnesota, blends small‑town charm with easy access to the Twin Cities, making it a sought‑after destination for renters seeking both convenience and a high quality of life. Set beside the scenic Lake Marion and surrounded by expansive parkland, the city offers abundant outdoor recreation, top‑rated schools, and a vibrant downtown core featuring boutique shops, local eateries, and community events. Neighborhoods such as Laketown, East Lake, and the historic downtown district each bring a distinct feel, from family‑friendly streets to lively entertainment hubs, while nearby major highways keep commuters connected to the broader metropolitan area.
The rental market in Lakeville features a balanced mix of apartments and single‑family homes, catering to a wide range of lifestyles. Studio apartments typically fall in the $1300‑$1500 range, while one‑ and two‑bedroom units are often found between $1600 and $1900, providing attractive options for young professionals and couples. Larger three‑bedroom apartments generally land in the $2300‑$2500 range, offering spacious living for growing families. Single‑family homes start around the $2000‑$2600 range for two‑bedroom layouts and extend up to the $2500‑$3300 range for larger four‑plus‑bedroom properties, delivering ample space and private amenities. With well‑maintained neighborhoods, easy access to schools, parks, and shopping, Lakeville rentals present a compelling blend of affordability, comfort, and convenience for anyone looking to call this dynamic Minnesota city home.
| Property Type | Bedrooms | Average | Median | Min - Max | 25th - 75th |
|---|---|---|---|---|---|
| Apartment | Studio | $1,461 | $1,413 | $1,285 - $1,864 | $1,389 - $1,503 |
| Apartment | 1 Bedroom | $1,659 | $1,649 | $1,295 - $2,060 | $1,538 - $1,813 |
| Apartment | 2 Bedroom | $1,917 | $1,944 | $950 - $2,600 | $1,804 - $2,085 |
| Apartment | 3 Bedroom | $2,497 | $2,339 | $1,725 - $3,533 | $2,204 - $2,755 |
| House | 2 Bedroom | $2,149 | $2,000 | $1,900 - $2,650 | $1,995 - $2,200 |
| House | 3 Bedroom | $2,585 | $2,512 | $1,350 - $4,000 | $2,099 - $3,100 |
| House | 4+ Bedroom | $3,347 | $3,279 | $2,200 - $6,350 | $3,000 - $3,600 |
In the current period, the average rent in Lakeville was $1,461 for Studio, $1,656 for 1 Bedroom, $1,939 for 2 Bedroom, $2,528 for 3 Bedroom, and $3,204 for 4+ Bedroom.
Data provided by Rentometer, Inc.