Chanhassen, MN vs Lakeville, MN

Lakeville is moderately more affordable than Chanhassen, with a 7.5% lower cost of living index. Chanhassen scores 133 compared to 124 for Lakeville, where the US average is 100. This difference means residents of Chanhassen can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Chanhassen is $1,749/month compared to $1,727/month in Lakeville — a 1% difference. Home values follow the same pattern: Lakeville is more affordable at $425,200 median vs $530,700.

Median household income in Chanhassen is $138,034 compared to $138,119 in Lakeville (-0.1%). 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 Chanhassen spend roughly 15.2% of their income on rent, more than the 15% in Lakeville.