HomeMinnesotaDakota CountyLakeville city
Lakeville city, Minnesota: commercial real estate data.
Lakeville city is a Census city of 74,354 people across 36.92 square miles of land, in Dakota County. Median household income is $139,041, 87.8 percent of occupied homes are owned, and the SBA record carries 131 7(a) approvals to borrowers here worth $64.7 m.
78 sourced place values · tier FULL · 8 sections · underlined figures are computed by MMCG Analytics, not published by the agency
Lakeville
What Lakeville is
- Census place typecity
- Land area36.92 sq mi
- Water area1.76 sq mi
- Population per square mile of land2,014
- County holding the largest share of its areaDakota County, 100.0 percent
US Census Bureau, cartographic boundary file, places, 2024 vintage. US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Lakeville
How many people live in Lakeville
- Population74,354
- Median age36.8
- Population under 1820,703
- Share under 1827.8 percent
- Population 65 and over8,099
- Share 65 and over10.9 percent
- Households25,685
- Family households20,240
- Share of households that are families78.8 percent
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Lakeville
Income and work in Lakeville
- Median household income$139,041
- Per capita income$57,291
- Civilian labor force41,488
- Employed40,655
- Unemployed833 plus or minus 221
- Unemployment rate2.0 percent plus or minus 0.5
- Adults 25 and over48,166
- Adults 25 and over with a high school diploma or higher96.5 percent
- Adults 25 and over with a bachelor degree or higher50.6 percent
- Adults 25 and over with a graduate degree16.6 percent
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Lakeville
Housing in Lakeville
- Housing units26,315
- Occupied units25,685
- Vacant units630 plus or minus 200
- Vacancy rate2.4 percent plus or minus 0.8
- Owner occupied22,543
- Renter occupied3,142
- Ownership rate87.8 percent
- Median owner-occupied home value$452,500
- Median gross rent, monthly$1,806
- Annual rent as a share of median income15.6 percent
- Single family units23,159
- Share single family88.0 percent
- Units in buildings of two or more2,332
- Share in buildings of two or more8.9 percent
- Mobile homes726 plus or minus 171
- Median year structure built1999
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Lakeville
How Lakeville gets to work
- Workers 16 and over who commute30,751
- Commuting under 15 minutes7,727
- Share commuting under 15 minutes25.1 percent
- Commuting 30 minutes or more11,148
- Share commuting 30 minutes or more36.3 percent
- Drove alone66.1 percent
- Carpooled7.9 percent
- Public transport1.0 percent plus or minus 0.5
- Walked0.8 percent plus or minus 0.4
- Worked from home23.4 percent
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Lakeville
SBA loans in Lakeville (7(a))
- Approvals131
- Gross approval$64,650,800
- Average approval$493,518
- Median approval$200,000
- Ninetieth percentile approval$1,075,500
- Largest approval$4,500,000
- Jobs supported1,459
- Jobs per approval11.1
- Loans with a final outcome31
- Paid in full27
- Charged off4
- Charge-off rate over resolved loans12.9 percent
- Median term120 months
- Share on real estate terms of 20 years or more4.6 percent
- Share to franchises16.8 percent
- Distinct lenders41
- Distinct industries by NAICS72
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Lakeville
SBA loans in Lakeville (504)
- Approvals55
- Gross approval$55,960,000
- Average approval$1,017,455
- Median approval$709,000
- Largest approval$5,500,000
- Jobs supported875
- Loans with a final outcome10
- Charged off0
- Charge-off rate over resolved loans0.0 percent
- Median term300 months
- Distinct CDCs6
US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Dakota County, not Lakeville
Dakota County context, not Lakeville figures
These are Dakota County figures. There is no place level equivalent published for any of them, so they are shown as the county backdrop and never as Lakeville measurements.
- Establishments in Dakota County10,964
- Employment at those establishments, Dakota County185,426
- Covered employment, Dakota County189,387
- Average annual pay, Dakota County$72,792
- Average weekly wage, Dakota County$1,400
- Housing units permitted, Dakota County2,146
- Of those, single family, Dakota County1,236
- County product, 2024, Dakota County$37,138,379,000
- County product change over the prior year, Dakota County4.6 percent
- Average income of an arriving household, Dakota County$70,009
Every figure in this section is published for Dakota County as a whole and is not a measurement of Lakeville. It is here because a county backdrop is what a credit committee reads a place against, and it is labelled so that it can never be quoted as the place's own.
US Census Bureau, County Business Patterns, 2023. US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages. US Census Bureau, Building Permits Survey, 2024 annual. US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024. US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- This place is not listed as a community in the FEMA Community Status Book, so no NFIP participation or CRS class is shown.
- Parcel level detail, zoning and flood zone at an address are resolved in the platform, not on this page.
SBA figures count approvals to borrowers whose address is in the place. They are not approvals for projects inside the place boundary: the tape records a borrower city and a project county, and those can differ.
Common questions
Lakeville questions, answered from the record.
How many people live in Lakeville, Minnesota?
74,354, in 25,685 households. Lakeville city covers 36.92 square miles of land, which is 2,014 people per square mile. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
What county is Lakeville in?
Dakota County, which holds 100.0 percent of the place by area. Source: US Census Bureau, cartographic boundary file, places, 2024 vintage.
What is the median household income in Lakeville?
$139,041. The median owner-occupied home is valued at $452,500. Median gross rent is $1,806 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
How much SBA lending goes to Lakeville businesses?
131 7(a) approvals totalling $64.7 m, across 41 lenders, median approval $200,000, plus 55 504 approvals worth $56.0 m. These count approvals to borrowers whose address is in Lakeville, not projects sited inside the place boundary, and they are approvals recorded in the release rather than loans disbursed.
Do SBA loans to Lakeville borrowers get paid back?
Of the 31 loans that have reached a final outcome, 27 were paid in full and 4 charged off, a charge off rate of 12.9 percent. Loans still running are excluded because they have not yet succeeded or failed.
Are the county figures on this page Lakeville figures?
No, and they are labelled so. County Business Patterns, QCEW, the Building Permits Survey, BEA product and IRS migration are published for Dakota County as a whole and there is no place level equivalent. They appear in one clearly marked section as context and are never presented as measurements of Lakeville.
Is zoning published for Lakeville?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning.