Lakeville Hourly Wage & Salary 2026
Lakeville, MN: $33.88/hr median hourly wage, $70,467 median annual salary, cost of living index 96.3, and $10.85/hr minimum wage. Calculate take-home pay with federal and Minnesota taxes.
Lakeville Hourly Wage Quick Answer
The median hourly wage in Lakeville, MN is $33.88/hr, equivalent to $70,467 per year at 2,080 work hours. Entry-level pay estimates around $21.01/hr, senior-level pay estimates around $48.11/hr, and the local minimum wage is $10.85/hr.
Median Salary
$70,467
$33.88/hr
Cost of Living
96.3
US avg = 100
Minimum Wage
$10.85
per hour
Unemployment
3.5%
rate
Lakeville, MN Overview
Population
69,490
Median Salary
$70,467
Average Salary
$78,923
Avg Commute
18 min
Median Home Price
$306,000
Median Rent
$1,259/mo
Job Growth
+1.6%
Sales Tax
6.875%
Lakeville is located in Minnesota with a population of 69,490. The median household salary is $70,467 per year ($33.88/hour), which is $11,083 above the national median of $59,384. The average commute time is 18 minutes, and the city has a job growth rate of +1.6%.
Lakeville Salary by Experience Level (2026)
Wage distribution in Lakeville, MN based on BLS percentile breakdown of the $70,467 median salary. Entry-level represents 10th–25th percentile; mid-level is the median; senior-level represents 75th–90th percentile.
| Experience Level | Annual Salary | Hourly Wage | Years Exp |
|---|---|---|---|
| Entry-Level | $43,690 | $21.01/hr | 0–2 years |
| Mid-Level (Median) | $70,467 | $33.88/hr | 3–7 years |
| Senior-Level | $100,063 | $48.11/hr | 8–15 years |
| Top 10% (90th Percentile) | $125,431 | $60.31/hr | 15+ years / leadership |
Percentile multipliers (62%, 100%, 142%, 178%) derived from 2024 BLS Occupational Employment and Wage Statistics distribution across all occupations in metro areas. Specific roles vary; see jobs by city for role-specific data.
Lakeville Paycheck Calculator
Enter your annual salary to see your estimated take-home pay in Lakeville, MN, after federal, state, and local taxes.
Estimated Annual Take-Home Pay
$52,872
$4,405.99/month · $2,033.53/biweekly · Effective Rate: 25.0%
Gross Pay
$70,467
Federal Tax
-$6,673
State Tax
-$5,532
Local Tax
$0
FICA
-$5,391
Net Pay
$52,872
Pay Breakdown
| Item | Monthly | Annual |
|---|---|---|
| Gross Salary | $5,872.25 | $70,467.00 |
| Federal Income Tax | -$556.06 | -$6,672.74 |
| Minnesota State Tax (7.85%) | -$460.97 | -$5,531.66 |
| Social Security (6.2%) | -$364.08 | -$4,368.95 |
| Medicare (1.45%) | -$85.15 | -$1,021.77 |
| Net Take-Home Pay | $4,405.99 | $52,871.88 |
Salary Comparison: Lakeville vs Other Cities
See how Lakeville's median salary and cost of living compare to the national average and similar cities.
| City | Median Salary | COL Index | Adj. Salary |
|---|---|---|---|
| Lakeville, MN | $70,467 | 96.3 | $73,174 |
| National Average | $59,384 | 100 | $59,384 |
| Campbell, CA | $70,486 | 148 | $47,626 |
| Hanford, CA | $70,439 | 143 | $49,258 |
| Juneau, AK | $70,500 | 132 | $53,409 |
| Wellesley, MA | $70,539 | 136.7 | $51,601 |
Adjusted salary reflects purchasing power when cost of living is factored in. A higher adjusted salary means your money goes further.
Cost of Living in Lakeville
Lakeville's cost of living index is 96.3 (national average = 100). Living in Lakeville is 3.700000000000003% less expensive than the national average.
Median Home Price
$306,000
Median Monthly Rent
$1,259
Annual Rent Cost
$15,108
Your Salary's Purchasing Power
Your $52,872 annual take-home pay in Lakeville has the purchasing power of approximately $54,903 in an average-cost US area. Your $70,467 salary stretches further here than in most US cities.
Top Industries in Lakeville
Lakeville's economy is driven by these key industries. Workers in top industries often earn significantly above the median salary of $70,467.
Salary Tips for Lakeville Workers
- Maximize pre-tax deductions. With a 7.85% state income tax rate, maximizing 401(k) contributions (up to $24,500 in 2026) and HSA contributions can significantly reduce both your federal and state tax burden.
- Research top industries. Lakeville's top industries include Healthcare, Finance, Manufacturing. Targeting roles in these sectors can help you earn above the $70,467 median salary.
- Review your W-4 withholding. If you regularly receive large tax refunds, adjust your W-4 to increase your per-paycheck take-home pay instead of giving the government an interest-free loan.
Methodology & Local Economy Data Sources
How we calculate Lakeville salary data: Our citywide compensation figures aggregate occupation-specific salary data from BLS Occupational Employment and Wage Statistics for the Lakeville-MN metropolitan statistical area (MSA), weighted by local employment counts. Cost-of-living adjustments use the C2ER Cost of Living Index baseline of 100 (national average), with Lakeville indexed at 96.3.
- Median salary calculation: weighted average of Lakeville's occupation-specific medians from BLS OEWS, adjusted for local cost of living. Net result: $70,467 annual median.
- Tax burden reflects Minnesota state income tax (7.85%) (no local income tax), sales tax (6.875%), and federal taxes per IRS 2026 brackets.
- Unemployment rate for Lakeville: 3.5%, sourced from BLS Local Area Unemployment Statistics (LAUS).
- Top industries: Healthcare, Finance, Manufacturing — based on QCEW employment concentration data.
- Job growth: 1.6% projected through 2034, derived from BLS Employment Projections program for Minnesota.
- Housing context: median home price $306,000, median rent $1,259/mo, sourced from Census American Community Survey 5-year estimates.
Authoritative US data sources for Lakeville, MN:
- BLS Occupational Employment and Wage Statistics (OEWS) — metropolitan area salary data
- BLS Local Area Unemployment Statistics — Lakeville unemployment rate
- U.S. Census Bureau — Lakeville QuickFacts — population, housing, demographics
- BLS Quarterly Census of Employment and Wages (QCEW) — county-level industry employment
- BLS Economy at a Glance — Minnesota — state economic indicators
- U.S. Bureau of Economic Analysis (BEA) — local GDP and personal income data
- BLS Consumer Price Index (CPI-U) — regional inflation tracking
Disclaimer: Salary and cost data are estimates for general guidance. Individual compensation varies by employer, experience, education, negotiation, and skills. Lakeville's rapidly changing economy can shift these baselines — always verify with current job listings, employer offers, and recent Minnesota labor market reports for the most current figures.
Reviewed by Brazora Monk· Last updated 2026 · BLS & Census data current as of latest releases
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Frequently Asked Questions
What is the hourly wage in Lakeville, MN?
The median hourly wage in Lakeville, MN is $33.88 per hour. At a standard 2,080-hour work year, that equals about $70,467 per year. Entry-level workers are estimated around $21.01/hr, while senior-level workers are estimated around $48.11/hr before overtime, bonuses, or benefits.
What is the median salary in Lakeville, MN?
The median salary in Lakeville, MN is $70,467 per year, or $33.88 per hour. The average salary is $78,923. This is $11,083 above the national median of $59,384.
What is the cost of living in Lakeville, MN?
Lakeville's cost of living index is 96.3 (national average = 100), meaning it is 3.700000000000003% less expensive compared to the national average. The median home price is $306,000 and the median monthly rent is $1,259.
What are the best industries in Lakeville?
The top industries in Lakeville, MN include Healthcare, Finance, Manufacturing. The city has a job growth rate of 1.6% and an unemployment rate of 3.5%. Workers in these industries often earn above the city's median salary of $70,467.
How does Lakeville's salary compare to other cities?
Lakeville's median salary of $70,467 is 18.7% above the national median of $59,384. However, when adjusted for cost of living (index: 96.3), the real purchasing power is approximately $73,174.
What is the minimum wage in Lakeville, MN?
The minimum wage in Lakeville, MN is $10.85 per hour. This equals approximately $22,568 per year for a full-time worker (40 hours/week). This is $3.60 above the federal minimum wage of $7.25/hour.