Performance indicators for the Lakeville short-term rental market based on reliable data.
Listings
Reliable / Active
Cap Rate
Middle-Earners Gross Yield
Revenue
Middle-Earners Revenue
Occupancy
Middle-Earners Occupancy
Home Value
Median Home Sale Price
Top Earners
Top-Earners Revenue
The highest-performing listings in Lakeville.
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Challenging to Investors
STRs are technically permitted but highly constrained to room rentals in owner-occupied dwellings with strict caps (two unrelated occupants per stay and no more than two stays in any 30-day period), prohibiting whole-home or non-owner-occupied rentals. This narrow scope, combined with unclear permitting costs and potential fines for violations, creates significant operational hurdles that deter investment while maintaining legal viability.
Local STR Agent
STR specialist · Lakeville, MN
Lakeville is an exurb of Minneapolis-Saint Paul, and the largest city in Dakota County, Minnesota, United States. It is approximately 20 miles (32 km) south of both downtown Minneapolis and downtown St. Paul along Interstate Highway 35. Starting as a flourishing milling center, its agriculture industry and other major industries are still in operation. Lakeville is one of the fastest-growing cities in the Twin Cities area. The population was 69,490 at the 2020 census. making it Minnesota's tenth most populous city. Lakeville first became notable in 1910 when Marion Savage built the Dan Patch Railroad Line to service his Antlers Amusement Park. While many of Lakeville's workers commute northward to Minneapolis, Saint Paul, and more central suburbs like Bloomington, Lakeville has had major industry since the 1960s—including the Airlake Industrial Park, which is served by Airlake Airport, a regional reliever airport.