Neon Burnsville
14501 Grand Ave S,
Burnsville, MN 55306
$1,644 - $2,844 Total Monthly Price
1-2 Beds | 12 Month Lease
Rental Market Trends in Lakeville, MN
What is the average rent in Lakeville, MN?
$1,579/month
Average Rent
786 Sq Ft
Average Apartment Size
+0.4%
Increase in the Last Year
As of December 2025, the average rent in Lakeville, MN is $1,579 per month. For comparison, the national average rent price in the US is currently $1,632/month, which means Lakeville rent prices are 3% lower than the national average. When you rent an apartment in Lakeville, you can expect to pay about $1,490 per month for a studio, $1,579 for a one-bedroom apartment, and around $1,884 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $2,366 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Lakeville, MN?
In the past year, rent has increased by 0.4%, which averages out to $7 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated December 2025
Legend
2024
2025
Rent Ranges in Lakeville, MN
Last Updated December 2025
$1,501 - $2,000
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
7%
$700 - $1,000/month
20%
$1,001 - $1,500/month
67%
$1,501 - $2,000/month
7%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Lakeville?
Based on current rent prices, Dakota Far Southwest Suburbs, Crossroads and Shady Oak Shores are the most affordable neighborhoods in Lakeville.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Lakeville?
Based on current rent prices, Crossroads, Shady Oak Shores and Dakota Far Southwest Suburbs are the most expensive neighborhoods in Lakeville.
Neighborhood
Average Rent
Average Sq Ft
Which Lakeville neighborhoods have the most rentals available?
The neighborhoods in Lakeville with the most apartments available are Dakota Far Southwest Suburbs, Crossroads and Shady Oak Shores .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Lakeville, MN?
Because the average rent in Lakeville is $1,579, you’ll want to make about $5,263 per month or $63,156 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Lakeville, MN compare to other nearby cities and neighborhoods?
Use the tool below to compare Lakeville, MN to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
$1,323/month
-
One Bedroom
$1,476/month
-
Two Bedroom
$1,797/month
-
Three Bedroom
$2,238/month
-
Nearby City Rent Trends
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Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in November 2025.
* Percentages may not total 100 due to rounding.