Edina, MN vs Lakeville, MN

Lakeville is moderately more affordable than Edina, with a 13.9% lower cost of living index. Edina scores 141 compared to 124 for Lakeville, where the US average is 100. This difference means residents of Edina can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Edina is $1,757/month compared to $1,727/month in Lakeville — a 2% difference. Home values follow the same pattern: Lakeville is more affordable at $425,200 median vs $624,000.

Median household income in Edina is $129,225 compared to $138,119 in Lakeville (-6.4%). 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 Edina spend roughly 16.3% of their income on rent, more than the 15% in Lakeville.