ZIP Code · MN

ZIP 55044

Part of Lakeville, MN

Pop. 64,762·Dakota County·12th most expensive ZIP in Minnesota

Median rent (all units)

$2,108/mo

Year-over-Year

+1.5%

Month-over-Month

-0.2%

vs US Median

+$176

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 55044 · $2,108

More expensive than 67% of US ZIP codes · National median $1,932/mo

Rent check

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,580

1 BR

$1,790

2 BR

$2,180

3 BR

$2,890

4 BR+

$3,230

Research median

$2,180/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Compared with the peak

Rent in ZIP 55044 is 0.2% below its high of $2,112 in December 2025, at $2,108 as of September 2026.

Past year vs. the rest of Minnesota

Rent in ZIP 55044 changed +1.5% over the year to September 2026. Across the 102 Minnesota ZIP codes Zillow tracks, the typical change was +3.4%.

Recent direction

Rent rose in 6 of the last 12 months.

What a typical income covers

30% of the median household income ($141,551) is $3,539 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($3,230).

Cheaper nearby

ZIP 55306, 6 miles away, rents for 33% less ($1,420/mo), about $8,300 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 55044. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$25,296/yr

At $2,108/mo median

Location

CityLakeville

StateMN

CountyDakota County

Rent Market Meter

Balanced Market

Renter's MarketBalancedLandlord's Market

Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.

Based on rent-price momentum (+1.5% YoY, -0.2% MoM), not inventory.

Demographics

Who lives here

ZIP 55044 (Lakeville, MN) is majority owner-occupied, has a large share of families with children, has a median income above the national average, 53.9% of residents hold a bachelor's degree or higher.

Population

64,762

Median income

$141,551

Median age

37.1

Renters

12%

Age distribution

28.2%

18.1%

29.4%

12.9%

Under 1828.2%

18–3418.1%

35–5429.4%

55–6412.9%

65+11.4%

Gender

51.2%

48.8%

Male51.2%

Female48.8%

Race & ethnicity

78.5%

White78.5%

Black5.9%

Hispanic6.1%

Asian6.5%

Other3%

Education (25+)

14.8%

28.3%

53.9%

No HS diploma3.1%

HS diploma14.8%

Some college28.3%

Bachelor's+53.9%

Housing tenure

88%

Owner88%

Renter12%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2023 vs 2026

How ZIP 55044 in Lakeville, MN has changed in 5 years

Rent

$1,927 → $2,108

up 9.4%

Income

$124,899 → $141,551

up 13.3%

Population

59,141 → 64,762

up 9.5%

Renter share

12.1% → 12%

-0.1 pts

Bachelor's+

53% → 53.9%

+0.9 pts

Median age

36.2 → 37.1

+0.9 yrs

Since 2023, the typical rent in ZIP 55044 in Lakeville, MN has climbed from $1,927 to $2,108, a 9.4% change over five years. On the earnings side, the typical household in ZIP 55044 in Lakeville, MN now reports about $141,551, up from $124,899 in 2021. On paper, paychecks moved up faster than rent, which softens the affordability squeeze versus the 2021 baseline. The population has grown by 9.5% since 2021, moving from about 59,141 residents to roughly 64,762. For context, the 2023 to 2026 window covers an unusually volatile run for US rents nationally, and ZIP 55044 in Lakeville, MN reflects that arc in its own way.

Community

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About renting in ZIP 55044

Last updated: October 17, 2026

ZIP code 55044 covers Lakeville, MN. The median rent here is $2,108/mo as of October 2026. A 1-bedroom rents for a median of $1,790/mo. A 2-bedroom rents for a median of $2,180/mo.

At 18% of local median household income ($141,551/yr), ZIP 55044 ranks as affordable compared to the national benchmark of 30%. Rents have increased 1.5% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 55044?

To keep rent at or below 30% of gross income, you would need to earn at least $84,000/year (about $40/hour full-time) to afford the median rent of $2,108/mo in ZIP 55044. The local median household income is $141,551/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 55044?

Rent in ZIP 55044 has risen 1.5% over the past year as of September 2026. It sits 0.2% below its high of $2,112 in December 2025.

How does ZIP 55044 compare to other ZIPs in Minnesota?

ZIP 55044 is one of the pricier among Minnesota ZIP codes for rent, ranking #12 of 123 at $2,108/mo. Over the year to September 2026, rent in ZIP 55044 changed +1.5%, against a typical +3.4% across the 102 Minnesota ZIP codes Zillow tracks.