Morgan Leone
Lakeville Real Estate
Morgan Leone provides a warm, education-first approach to buying and selling homes in Lakeville, Minnesota. She ensures every client makes informed decisions through every step of the real estate process.
Lakeville represents a significant portion of the Dakota County housing market. The landscape is primarily defined by detached housing, with homes that are single-family detached accounting for 72% (U.S. Census Bureau, American Community Survey, 2020–2024 ACS 5-year estimates). Morgan Leone specializes in navigating these properties, alongside new construction and townhouses, for those looking to establish roots in the area.
Buyers often find a mix of established neighborhoods and newer developments, as the median year homes were built is 1999 (U.S. Census Bureau, American Community Survey, 2020–2024 ACS 5-year estimates). Morgan uses her local expertise to guide first-time buyers and those utilizing VA loans through this competitive environment. She remains the primary point of contact from the initial search until the keys are handed over.
The local market has shown steady long-term movement. The home price change over 5 years in Dakota County is +32.3% (Federal Housing Finance Agency House Price Index, 2020 to 2025). Morgan provides the data and support needed to understand these trends, helping clients feel confident in their investment while managing the complexities of seller representation and relocation.
By the numbers
Lakeville, MN at a glance
| Population2020–2024 ACS 5-year estimates | 74,354 |
|---|---|
| Housing units2020–2024 ACS 5-year estimates | 26,315 |
| Median home value (owner-occupied)2020–2024 ACS 5-year estimates | $452,500 |
| Median monthly rent2020–2024 ACS 5-year estimates | $1,806 |
| Median annual property tax paid2020–2024 ACS 5-year estimates | $4,498 |
| Homes that are owner-occupied2020–2024 ACS 5-year estimates | 88% |
| Homes that are single-family detached2020–2024 ACS 5-year estimates | 72% |
| Median year homes were built2020–2024 ACS 5-year estimates | 1999 |
| Commutes under 30 minutes2020–2024 ACS 5-year estimates | 64% |
| Home price change, 1 year (Dakota County)2024 to 2025 | +1.5% |
| Home price change, 5 years (Dakota County)2020 to 2025 | +32.3% |
| Average 30-year fixed mortgage rate (U.S.)week of 2026-09-24 | 7.03% |
| Average 30-year fixed mortgage rate a year earlier (U.S.)week of 2025-09-18 | 6.26% |
Sources: U.S. Census Bureau, American Community Survey; Federal Housing Finance Agency House Price Index; Freddie Mac Primary Mortgage Market Survey. Published estimates for the area as a whole, not a valuation of any property.
FAQ
Frequently asked questions
What is the median home value in Lakeville, Minnesota?↓
The median home value for owner-occupied units in Lakeville is $452,500 (U.S. Census Bureau, American Community Survey, 2020–2024 ACS 5-year estimates). This figure reflects the diverse range of single-family homes and townhouses available in the city. Morgan Leone helps buyers analyze these values to find a property that fits their specific goals.
Is Lakeville a city of mostly homeowners or renters?↓
Lakeville has a high rate of residency stability, with homes that are owner-occupied at 88% (U.S. Census Bureau, American Community Survey, 2020–2024 ACS 5-year estimates). For those not yet ready to buy, the median monthly rent is $1,806 (U.S. Census Bureau, American Community Survey, 2020–2024 ACS 5-year estimates). Morgan Leone assists clients in weighing the benefits of both options.
What are the typical property taxes in Lakeville?↓
Homeowners in Lakeville see a median annual property tax paid of $4,498 (U.S. Census Bureau, American Community Survey, 2020–2024 ACS 5-year estimates). Morgan Leone includes these figures in her educational approach to ensure buyers understand the full cost of ownership. She believes no question is a dumb question when it comes to financial planning.
How long is the average commute for Lakeville residents?↓
Many residents find the location convenient for regional travel, with commutes under 30 minutes of 64% (U.S. Census Bureau, American Community Survey, 2020–2024 ACS 5-year estimates). Morgan Leone often works with relocation clients who prioritize this accessibility. Her local knowledge helps buyers identify neighborhoods that align with their daily travel needs.
What kind of home appreciation has Lakeville seen recently?↓
In the broader Dakota County area, the home price change over 1 year is +1.5% (Federal Housing Finance Agency House Price Index, 2024 to 2025). This follows a period of significant growth, as the 5-year change is +32.3% (Federal Housing Finance Agency House Price Index, 2020 to 2025). Morgan Leone monitors these trends to provide sellers and investors with accurate market context.
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