Living in Lakeville, Indiana
Cost of living, income, home prices, rent and demographics of Lakeville · Census data 2020–2024
Lakeville has 735 residents with a median age of 36.2. The median household income is $62,772 (13% lower than the Indiana median), the median home value is $136,500, the median rent is $797/month.
Lakeville is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Lakeville at a glance
- Population
- 735
- Median age
- 36.2State: 38.1
- Median household income
- $62,772State: $71,957
- Median home value
- $136,500State: $218,200
- Median rent
- $797/moState: $1,062
- Homeowners
- 43.5%
- Bachelor's degree or higher
- 14.7%
- Average commute
- 29 min
Is Lakeville a good place to live?
Pros: Home values 37% lower than the state median; unemployment of 2.7%.
Cons: Median household income 13% lower than the Indiana median; an average commute of 29 minutes; a poverty rate of 17.6%.
The weather is best in June to September.
Cost of living in Lakeville
Housing is the biggest part of the cost of living. In Lakeville the median home value is $136,500, 59% lower than the U.S. median. Renters pay a median of $797 per month, which is 25.4% of household income. Homeowners with a mortgage pay $1,088 a month in housing costs.
Lakeville median household income
The median household income in Lakeville is $62,772 and the income per person is $31,928. 17.6% of residents live below the poverty line (Indiana: 12.3%).
Housing in Lakeville: homes for sale and rent
- Housing units
- 418
- Owner-occupied
- 43.5%
- Renter-occupied
- 56.5%
- Vacant
- 17.5%Includes seasonal homes
- Median year built
- 1983
- Average household size
- 2.13
Lakeville demographics
- Population
- 735
- Median age
- 36.2
- Under 18
- 23.3%
- 65 and older
- 16.5%
- Households
- 345
- Foreign-born
- 0%
- Veterans
- 4.6%Adults 18+
Hispanic or Latino can be of any race. Population history of Lakeville ›
Education in Lakeville
14.7% of adults 25 and older in Lakeville have a bachelor's degree or higher (Indiana: 29.5%), and 8.2% have a graduate or professional degree.
Jobs and commute in Lakeville
- Unemployment rate
- 2.7%State: 4.3%
- Average commute
- 29 minState: 24 min
- Work from home
- 7.2%
- Drive alone
- 84.4%
- Public transit
- 0%
- Walk to work
- 0%
- Homes with broadband
- 87.5%
Lakeville vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Lakeville | 735 | $62,772 | $136,500 | $797 |
| La Paz | 476 | $77,972 | $135,300 | $698 |
| Gilmer Park | 1,055 | $76,818 | $156,300 | — |
| Lake of the Woods | 663 | $59,464 | $254,200 | $1,059 |
| North Liberty | 1,775 | $75,047 | $162,100 | $960 |
| Bremen | 4,642 | $68,429 | $211,700 | $933 |
| South Bend | 103,085 | $55,786 | $140,400 | $1,033 |
| Walkerton | 2,115 | $65,340 | $149,200 | $828 |
| Ardmore | 1,810 | $47,069 | $143,100 | $1,081 |
More for people moving to Lakeville
Lakeville ZIP code ›Weather and climate ›Living in Lakeville: FAQ
What is the median household income in Lakeville, IN?
The median household income in Lakeville is $62,772, 13% lower than the Indiana median of $71,957 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Lakeville?
The median home value in Lakeville is $136,500, compared with $218,200 in Indiana.
How much is rent in Lakeville?
The median gross rent in Lakeville is $797 per month, about 25.4% of household income.
Is Lakeville, IN a good place to live?
Pluses: home values 37% lower than the state median; unemployment of 2.7%. Minuses: median household income 13% lower than the Indiana median; an average commute of 29 minutes; a poverty rate of 17.6%.
What is the median age in Lakeville?
The median age in Lakeville is 36.2 years (Indiana: 38.1).
How long is the commute in Lakeville?
The average commute to work in Lakeville is 29 minutes; 7.2% of workers work from home.
What is the unemployment rate in Lakeville?
The unemployment rate in Lakeville is 2.7% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Lakeville?
14.7% of adults in Lakeville have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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