Median home value is about $464,500 — about 33% above the U.S. median home value ($348,079).
Housing tenure and rents show median gross rent around $1,586 (about 36% above the U.S. median rent ($1,163)), and owner-occupancy near 87.8% (about 22.3 points above the national owner-occupancy rate (65.4%)).
To comfortably buy a median-priced home in ZIP 55044 in Lakeville, MN, a household would need roughly $128,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $2,984. That is roughly in line with the local median household income ($140,612). Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.