HomeMinnesotaDakota CountyLakeville
Lakeville, Minnesota: commercial real estate data.
Lakeville 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 since FY2020.
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
Counted by borrower city: approvals to borrowers whose address is in Lakeville, in any county, FY2020 to FY2026.
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
- Median term300 months
- Distinct CDCs6
Counted by borrower city: approvals to borrowers whose address is in Lakeville, in any county, FY2010 to FY2026. Only 10 loans have reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published.
US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Lakeville
Flood risk in Lakeville
- NFIP communityCity of Lakeville
- NFIP community number270107
- Participating in the NFIPYes
- Community Rating System classNone
- Currently effective map date12/02/11
The City of Lakeville participates in the National Flood Insurance Program as community 270107 and carries no Community Rating System class, so no CRS premium discount applies to it.
Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26.
Dakota County, not Lakeville
Dakota County context, not Lakeville figures
- Establishments in Dakota County10,964
- Covered employment, Dakota County189,387
- Average annual pay, Dakota County$72,792
- Housing units permitted, Dakota County2,146
Every figure in this section is published for Dakota County as a whole and is not a measurement of Lakeville.
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.
Coverage
What this page does not hold.
Parcel detail, zoning and the flood zone at an address are not on this page; they resolve at the address in the platform. How this page was built →
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 totaling $64.7 m since FY2020, across 41 lenders, median approval $200,000, plus 55 504 approvals worth $56.0 m since FY2010. 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.
Is Lakeville in the National Flood Insurance Program?
Yes. Lakeville appears in the FEMA Community Status Book as Lakeville, city of, community 270107, with no Community Rating System class, so no CRS discount applies. Whether a specific parcel sits in a mapped special flood hazard area is an address level question the platform answers.
Are the county figures on this page Lakeville figures?
No, and they are labeled 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?
No. Nothing on this page presents parcel level zoning.