Salaries in Lakeville, MN

You might think a suburb of Minneapolis-St. Paul with a median household income of nearly $148,000 would feel exclusive, but Lakeville in 2026 is more of a workhorse town. It’s a place where two-income families with solid blue-collar and tech jobs build stable lives, not a playground for the ultra-rich. The real surprise isn’t the high salary numbers; it’s how many regular professions get you a comfortable life here.

With a cost of living index at 104.5, Lakeville is about 4.5% pricier than the national average. That sounds steep, but it’s a bargain compared to Minneapolis proper. That $147,992 median income buys real purchasing power, especially when you see a one-bedroom apartment averages $1,201 a month. It’s not cheap, but it’s not the crushing financial pressure you’d feel in a coastal tech hub. Your dollar stretches farther here than you’d expect from the headline income.

The economy here is built on a mix of corporate support, healthcare, and skilled trades. You’ve got major employers like Schwan’s Company and a huge Tyson Foods plant anchoring the industrial side, while the healthcare system pulls in nurses at a solid $87,000. The tech sector is growing, but it’s not the whole story. The city’s 45.6% bachelor’s degree rate points to a professional class that’s educated but not necessarily in flashy startups.

Here’s my honest take: the growth in housing costs is starting to outpace wage gains for some. If you’re in a top-paying field like software development, you’re thriving. But for the average salary of $55,116 (or the COL-adjusted $52,743), you’re doing okay but not getting rich. It works best for skilled tradespeople, nurses, and mid-level professionals who want a yard and good schools without a coastal price tag.

The data below breaks down exactly who earns what, and what your paycheck can actually buy on the ground in Lakeville.