Rentometer, Inc. | Data as of 10/22/2025
Lakeville, a thriving city in southeastern Minnesota, blends small‑town charm with easy access to the Twin Cities metro area. Nestled among rolling hills and the picturesque Lake Marion, the community offers abundant outdoor recreation, from scenic bike trails to well‑maintained parks and a vibrant downtown that features local cafés, boutique shops, and seasonal festivals. Its reputation for strong schools, family‑friendly neighborhoods, and convenient commuting routes makes Lakeville a sought‑after destination for renters seeking both comfort and convenience.
The rental market in Lakeville presents a diverse mix of apartments and single‑family homes to suit a range of lifestyles. Studio apartments typically fall in the $1,400 range, while one‑bedroom units are commonly available in the $1,600‑$1,700 bracket. Two‑ and three‑bedroom apartments trend toward the $1,900 and $2,300 levels respectively, offering spacious layouts for professionals and small families. For those desiring more space, two‑bedroom houses often rent in the $2,000‑$2,100 range, three‑bedroom homes hover around $2,500, and larger four‑plus bedroom properties are positioned in the $3,200‑$3,300 territory, providing ample room for growing households.
Lakeville’s neighborhoods, such as the historic downtown district, the newer Lakeville South subdivision, and the family‑oriented West Lake area, each bring distinct character and easy access to amenities like the Lakeville Art Center, Lakeville Community Center, and a variety of shopping and dining options. With a well‑rounded selection of rental choices, top‑rated schools, and an active community vibe, Lakeville remains an attractive market for renters looking to enjoy Minnesota’s quality of life while staying connected to the larger Twin Cities region.
| Property Type | Bedrooms | Average | Median | Min - Max | 25th - 75th |
|---|---|---|---|---|---|
| Apartment | Studio | $1,391 | $1,394 | $1,285 - $1,510 | $1,375 - $1,445 |
| Apartment | 1 Bedroom | $1,620 | $1,580 | $1,295 - $2,060 | $1,495 - $1,720 |
| Apartment | 2 Bedroom | $1,890 | $1,913 | $950 - $2,600 | $1,784 - $2,085 |
| Apartment | 3 Bedroom | $2,341 | $2,306 | $1,695 - $2,765 | $2,200 - $2,499 |
| House | 2 Bedroom | $2,031 | $1,995 | $1,900 - $2,200 | $1,900 - $2,200 |
| House | 3 Bedroom | $2,524 | $2,445 | $1,290 - $4,000 | $2,135 - $2,895 |
| House | 4+ Bedroom | $3,275 | $3,250 | $2,200 - $6,350 | $2,850 - $3,629 |
In the current period, the average rent in Lakeville was $1,392 for Studio, $1,620 for 1 Bedroom, $1,899 for 2 Bedroom, $2,446 for 3 Bedroom, and $3,143 for 4+ Bedroom.
Data provided by Rentometer, Inc.