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Lakeville has the 462nd largest population in the United States. The population grew by 8.4% from 2010 to 2015, which was faster than the national average. Lakeville is part of the Minneapolis metro area. Unemployment in the Minneapolis area is 3%, which is lower than the national average, and is getting better. Minneapolis has the 14th largest local economy in the US, and a high cost of living. The average pay for jobs in Lakeville is above average at $53,450, and the median cost of a home in Lakeville is $243,000, which is above the national average. 46% of workers in Lakeville hold a bachelors degree or higher (above average), and 96% of workers have a high school degree (above average). Driving to work is especially common in Lakeville. 82% of Lakeville workers drive to work alone, 3% take public transit, 7% carpool, and 6% walk. People in Lakeville spend an average of 25 minutes commuting to work, which is shorter than the national average of 26 minutes.

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