Austin, MN vs Lakeville, MN

The cost of living difference between Austin, MN and Lakeville, MN is dramatic. Austin is 41.5% cheaper than Lakeville, a gap that translates to thousands of dollars per year in household expenses. Austin has a cost index of 72 while Lakeville sits at 124, making this one of the more striking comparisons on our site. Relocating between these cities would require a serious reassessment of budget and lifestyle expectations.

On the housing front, median rent in Austin is $860/month compared to $1,727/month in Lakeville — a 50% difference. Home values follow the same pattern: Austin is more affordable at $155,100 median vs $425,200.

Median household income in Austin is $66,488 compared to $138,119 in Lakeville (-51.9%). While Lakeville is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Austin spend roughly 15.5% of their income on rent, more than the 15% in Lakeville.