Starting at $1,783
Total Monthly Price
- 1 - 3 Beds
5076 161st St W, Lakeville, MN 55044
Where style, comfort, and timeless elegance redefine city living.
Livery Modern Apartments
(612) 284-0479
Frequently Asked Questions
How much does it cost to rent a home in Lakeville, MN?
The median rent for a home in Lakeville, MN is $2,760 per month, though prices vary by neighborhood, size, and property type. As of May 2026, townhouses tend to be the most affordable option while single-family homes are currently more expensive.
How much do you need to make to afford rent in Lakeville, MN?
To comfortably afford the median rent in Lakeville, MN, a household needs to earn roughly $110,400 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $2,760 per month in Lakeville, MN, renters typically need to show $8,280 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Lakeville, MN?
In Lakeville, MN, the price-to-rent ratio is 15.9, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in Lakeville, MN are best for renting a home?
The best neighborhood for renting in Lakeville, MN depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a home include South Loop, Galaxie Commons, Downtown Apple Valley, West Bloomington and East Bloomington, each with its own character and price range.
