The story of this market
The typical home in ZIP 55044 sells for about $526,000, or $205 per square foot.
Prices are down 2.8% from a year ago, which gives buyers more room to negotiate. Homes take about 38 days to sell. HUD's fair market rent for a two-bedroom is $1,826 a month.
ZIP 55044 — Lakeville
The 55044 housing market remains competitive despite a slight year-over-year price correction, driven by low inventory and high demand for suburban family homes. Buyers are active, though price sensitivity has increased, leading to a more balanced market compared to the rapid appreciation seen in previous years.
This ZIP is ideal for families seeking high-quality schools and suburban amenities, as well as commuters looking for a balance between residential space and access to the Twin Cities metro.
Median prices moved down 2.8% year over year.
Homes spend a median of 38 days on market with 3.2 months of supply — a fast-moving market.
22% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 2.2% · poverty 3.0% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 5.9%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 5.6%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 55044, Dakota County MN
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
Lakeville consistently ranks as one of the safest cities in Minnesota, with crime rates significantly lower than both state and national averages.
The area is served by the highly-rated Lakeville Area Schools (ISD 194), which is frequently recognized for strong academic performance and college readiness.
The region faces moderate risks from severe thunderstorms and winter weather, with standard flood insurance requirements for properties located in designated floodplain areas.
Lakeville continues to experience steady suburban growth with ongoing residential development and expansion of commercial corridors along I-35.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Minnesota) — Condominium Unit Taxation: Each unit constitutes a separate parcel for tax purposes. If a declaration is recorded at least 30 days before a tax installment is due, the taxing authority must split the taxes among the units. State (Minnesota) — Minnesota General Property Tax Classification System: Property tax is calculated by applying a class rate to the parcel's estimated market value to determine tax capacity, then multiplying by the local tax rate. For residential homesteads (Class 1a), the rate is 1.00% for the first $500,000 of market value and 1.
Residents primarily commute via I-35 to reach employment hubs in Minneapolis and St. Paul, with average commute times typically ranging from 30 to 40 minutes.
The area features extensive park systems, including Ritter Farm Park and Antlers Park, alongside numerous lakes and golf courses like Brackett's Crossing.
The rental market is characterized by low vacancy rates and high demand for single-family home rentals, with limited new multi-family inventory.
The local economy is supported by a mix of retail, healthcare, and manufacturing, with many residents employed in the broader Twin Cities professional services sector.
Transportation is heavily reliant on the I-35 corridor, with limited public transit options compared to the urban core.
Development is focused on expanding residential subdivisions in the southern portions of the ZIP and improving commercial infrastructure along major arterial roads.
Dakota County Assessor performs annual market value assessments to ensure property tax equity.
Parcels are subject to Lakeville Area Schools (ISD 194) levies and various municipal utility districts.
Property insurance premiums are stable but reflect regional exposure to severe weather events common in the Upper Midwest.
Data retrieved from data.census.gov ZCTA 55044 profile.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- Mall of America®4.615 mi
- Valleyfair4.215.5 mi
- Great Wolf Lodge | Minnesota3.915.4 mi
- Nickelodeon Universe4.515 mi
- Edinborough Park4.616.2 mi
- Canterbury Park4.516.4 mi
- Hazelwood Food and Drink Bloomington4.715.1 mi
- Minnesota Renaissance Festival4.519.5 mi
- Centennial Lakes Park4.716.5 mi
- Hyland Hills Ski Area4.215.7 mi
- Minnesota Zoo4.69.1 mi
- Emagine Eagan4.410.6 mi
- Lebanon Hills Regional Park4.811.7 mi
- Grand Slam4.310.1 mi
- DUCK!4.412.3 mi
- Historic Fort Snelling4.717.8 mi
- The Museum of Russian Art4.718.5 mi
- Wood Lake Nature Center4.717.1 mi
- The Works Museum4.413.4 mi
- Crayola Experience Mall of America4.314.9 mi
- Lebanon Hills Regional Park4.811.7 mi
- Aronson Park4.61.2 mi
- Apple Valley Community Center4.36.8 mi
- Whitetail Woods Regional Park4.88.1 mi
- Steve Michaud Park4.64.6 mi
- Pool and Yacht Club4.719 mi
- Watergate Marina4.518.1 mi
- Knotty Oar Marina4.711.7 mi
- Your Boat Club Prior Lake4.710.4 mi
- Legends Golf Club4.76.1 mi
- Brackett's Crossing Country Club4.75.6 mi
- Willingers Golf Club4.711.1 mi
- Southern Hills Golf Course4.35.2 mi
- Valleywood Golf Course3.89.8 mi
- Twin Cities Premium Outlets4.512.3 mi
- Fleet Farm4.35.1 mi
- Burnsville Center3.97.9 mi
- T.J. Maxx & HomeGoods4.38.2 mi
- Hy-Vee4.59.9 mi
- Minneapolis-Saint Paul International Airport4.417.1 mi
- Shoyu3.716.9 mi
- Mimosa316.9 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Features a sandy beach on Lake Marion and extensive picnic areas.
A premier private golf club serving the Lakeville community.
Offers extensive hiking and cross-country skiing trails.
Key-figure check: median price corroborated by the published ten-year series (2025) (within 12.5%).