Bloomington, MN vs Lakeville, MN

Bloomington is moderately more affordable than Lakeville, with a 10.2% lower cost of living index. Bloomington scores 111 compared to 124 for Lakeville, where the US average is 100. This difference means residents of Lakeville can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Bloomington is $1,526/month compared to $1,727/month in Lakeville — a 12% difference. Home values follow the same pattern: Bloomington is more affordable at $346,200 median vs $425,200.

Median household income in Bloomington is $90,677 compared to $138,119 in Lakeville (-34.3%). 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 Bloomington spend roughly 20.2% of their income on rent, more than the 15% in Lakeville.