Andover, MN vs Lakeville, MN

Andover, MN and Lakeville, MN have a very similar cost of living, with only a 0.1% difference in their overall index. Andover scores 124 while Lakeville scores 124 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Andover is $1,827/month compared to $1,727/month in Lakeville — a 6% difference. Interestingly, home values tell a different story: while Lakeville has cheaper rent, Andover actually has lower median home values ($389,200 vs $425,200).

Median household income in Andover is $131,528 compared to $138,119 in Lakeville (-4.8%). Lakeville offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Andover spend roughly 16.7% of their income on rent, more than the 15% in Lakeville.