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EconPulse

Local economy signal dashboard

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PLACEThriving

Lakeville, MN

Thriving overall. Population is the clearest support signal, while jobs needs the most attention. Housing reads as affordable for a median-income household.

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Overall score77out of 100
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71
60
100
78
100

Population

74,354

Data freshness

Unknown

GDP / Output

+4.6% YoY

71

$37.1B

Output changed +4.6% in 2024.

Vintage date unknown

State growth5.1%
U.S. growth5.3%

Jobs

Unemployment rate

60

4.4%

Unemployment is 4.4% for June 2026.

Vintage date unknown

State avg4.1%
U.S. avg5.2%

Population

+13.2% 5-year

100

74,354

Population moved +13.2% over the latest ACS window.

Vintage date unknown

State population5,739,445
U.S. population334,922,499

Housing

Rent share of income

78

15.6%

Median rent consumes 15.6% of median household income: Affordable.

Vintage date unknown

State rent$1.3K
U.S. rent$1.4K
HUD_API_TOKEN missing; ACS median gross rent is used as the housing affordability fallback.

Federal Funds

$12.3K per resident

100

$5.4B

$5.4B in federal obligations flowed here in FY2025.

Vintage date unknown

State total$242.1B
U.S. total$5.3T

Population and output

Trend Snapshot

Reported share

Industry Breakdown

FY2025

Federal Money

Federal obligations

$5.4B

$12.3K per resident in reported federal flow.

Top agencies

Dollars
1. Department of Health and Human Services$2.8B
2. Social Security Administration$2.2B
3. Department of Veterans Affairs$209.3M

Top recipients

Dollars
1. MINNESOTA DEPARTMENT OF TRANSPORTATION$45.8M
2. DAKOTA COUNTY COMMUNITY DEVELOPMENT AGENCY$38.9M
3. ROSEMOUNT AEROSPACE INC$31.3M

Affordable

Housing Affordability

15.6%

of median income

1BR estimate$1,481
2BR estimate$1,950
Median income$139,041
Median home value$452,500

ACS context

Quick Facts

Population

74,354

Median age

36.8

Bachelor's degree+

50.6%

Poverty rate

2.9%

Labor force participation

74.5%

Prime rate

6.8%

CPI YoY

+3.2%

U.S. GDP YoY

+6.5%

Sources and warnings

Data Provenance

Census ACS 5-year

2024

BLS LAUS / CPS

June 2026

BEA regional CAGDP1

2024

USAspending

FY2025

FRED

2026-07-30

HUD Fair Market Rent

Latest available

Data notes
  • HUD_API_TOKEN missing; ACS median gross rent is used as the housing affordability fallback.

5-year compound growth

Historical Trends

Population CAGR

+2.5%

GDP CAGR

+6.7%

Federal flow

5 years

Population (5 years)
202065,710
202169,026
202270,696
202372,480
202474,354
GDP (5 years)
2020$26.9B
2021$29.4B
2022$33.4B
2023$35.5B
2024$37.1B

2-year linear forecast

Predictive Outlook

Population forecast

202474,354
202576,676 *
202678,750 *

R² = 98.0% · * projected

GDP forecast

2024$37.1B
2025$40.5B *
2026$43.1B *

R² = 97.6% · * projected

Linear regression over available historical data. Projections are estimates based on past trends and do not account for policy changes, economic shocks, or other external factors.

housing affordability breakdown

Cost of Living

Median household income$139,041/yr
Median rent$1,806/mo
Rent share of income15.6%
Est. mortgage (30yr, 6.5%)$27,457/yr
Mortgage share of income19.7%

Rent data from Census ACS 5-year. Mortgage estimate assumes 20% down, 6.5% APR, 30-year fixed.

employment snapshot

Job Market

Unemployment rate4.4%
State avg4.1%
U.S. avg5.2%
Labor force participation74.5%
Poverty rate2.9%

Data from BLS LAUS / CPS. June 2026.

valuation snapshot

Real Estate

Median home value$452,500
Median monthly rent$1,806
Price-to-rent ratio20.9x

High price-to-rent ratio — renting may be more economical than buying in this market.

composite score

Investment Climate

Investment climateStrong
Composite score76/100
Economic growth71/100
Labor market60/100
Population momentum100/100
Overall stability77/100

Composite score weighs economic growth, labor market health, population momentum, and overall stability. Not financial advice.

Location Context

Lakeville city, Minnesota

City/Town

Part of

Minneapolis-St. Paul-Bloomington, MN-WI

Nearby locations

Farmington, MNApple Valley, MNCredit River, MNBurnsville, MNEmpire, MN