Lakeville, MN Census Data
The 9th largest city in Minnesota by population · 19 cities ranked
Lakeville is the 9th largest city in Minnesota by population and ranks 1st of 19 for median household income. With 72,480 residents, it has a lower poverty rate than 18 other Minnesota cities. This snapshot draws from the 2023 American Community Survey (ACS) 5-year estimates.
Updated: 2026-04-13 · Source: U.S. Census Bureau, ACS 2023
Population
72,480
51.2% male · 48.8% female
Median Age
36.9
1.8 below the national average (38.7 yrs)
Median Household Income
$138,119
$59,581 above the national average ($78,538)
Bachelor's Degree or Higher
50.9%
15.9% above the national average (35.0%)
HS diploma or higher: 97.1%
Poverty Rate
3.3%
9.1% below the national average (12.4%)
Uninsured: 2.3%
Broadband Access
97.3%
7.6% above the national average (89.7%)
Median Home Value
$425,200
Median rent: $1,727 · 88% owner-occupied
Unemployment Rate
2.3%
Labor force participation: 73.3%
Per Capita Income
$66,342
Individual average income (not household)
Veteran Population
5.5%
Disability rate: 7.5%
How Lakeville Compares to Other Minnesota Cities
Rankings among all 19 Minnesota cities tracked in the 2023 ACS.
| Ranking | Position | Tier |
|---|---|---|
| Largest by Population | 9th of 19 | Top half |
| Highest Median Income | 1st of 19 | Top 10% |
| Lowest Poverty Rate | 1st of 19 | Top 10% |
| Highest Bachelor's Attainment | 9th of 19 | Top half |
| Highest Home Value | 6th of 19 | Top half |
Demographics
Race & Ethnicity
Age Distribution
Commute to Work
Lakeville, MN Frequently Asked Questions
What is the population of Lakeville, MN?
The population of Lakeville, MN is 72,480 according to the 2023 American Community Survey 5-year estimates. The median age is 36.9 years.
What is the median household income in Lakeville?
The median household income in Lakeville, MN is $138,119, above the national average of $78,538. Per capita income is $66,342.
What is the poverty rate in Lakeville?
The poverty rate in Lakeville, MN is 3.3%, compared to the national average of 12.4%. About 2.3% of residents lack health insurance.
What percentage of Lakeville residents have a college degree?
50.9% of adults (25+) in Lakeville hold a bachelor's degree or higher, and 97.1% have at least a high school diploma. The national average for bachelor's degree holders is 35.0%.
What is the median home value in Lakeville?
The median home value in Lakeville, MN is $425,200. Median rent is $1,727 per month, with 88% of housing units owner-occupied.
What is the racial makeup of Lakeville?
Lakeville's population is 80.8% White, 4.3% Black, 6.1% Hispanic or Latino, and 5.7% Asian (source: 2023 ACS).
How does Lakeville rank among Minnesota cities?
Lakeville is the 9th largest city in Minnesota by population, the 1st highest for median household income, the 1st lowest for poverty rate, the 9th highest for bachelor's degree attainment among 19 ranked Minnesota cities.
What is the unemployment rate in Lakeville?
The unemployment rate in Lakeville, MN is 2.3%, with a labor force participation rate of 73.3%. Per capita income is $66,342.
Cities Similar to Lakeville
Other Minnesota cities with comparable population and income levels.