Compare cities · September 2026
Elko New Market vs. Lakeville
Homes in Lakeville sold for a median $510,000 over the 12 months through September 2026, 10% more than in Elko New Market ($465,000). Homes sold faster in Lakeville: 58 days on market on average, against 65 in Elko New Market. Elko New Market's homes are newer, with a median year built of 2005 against 1999. Lakeville is closer to downtown Minneapolis: about 33 minutes by car, against 42. The two are about 9 miles apart, roughly a 19-minute drive.
Housing market, 12 months through September 2026
| Measure | Elko New Market | Lakeville |
|---|---|---|
| Median sale price | $465,000 | $510,000 |
| Change from a year earlier | +6.9% | +2.0% |
| Homes sold | 117 | 1,131 |
| Days on market | 65 | 58 |
| Share of original list price | 97.3% | 97.9% |
| Price per square foot | $203 | $205 |
| New listings | 303 | 2,041 |
| Homes for sale (September 2026) | 61 | 405 |
| Months of supply (September 2026) | 5.7 | 4.3 |
Source: Minneapolis Area REALTORS® Local Market Update (NorthstarMLS data).
The homes
| Measure | Elko New Market | Lakeville |
|---|---|---|
| Median home value (owner estimate) | $433,100 | $452,500 |
| Median year built | 2005 | 1999 |
| Single-family homesShare of all housing units, detached houses | 98% | 88% |
| Owner-occupied homes | 96% | 88% |
| Median rent | $2,200 | $1,806 |
Source: US Census Bureau, American Community Survey 2020–2024.
The place
| Measure | Elko New Market | Lakeville |
|---|---|---|
| Population (2024) | 5,193 | 77,971 |
| Land area | 3.8 sq mi | 36.9 sq mi |
| Drive to Downtown Minneapolis | 42 min | 33 min |
| Drive to Downtown Saint Paul | 43 min | 34 min |
| Drive to MSP Airport | 37 min | 28 min |
| Drive to Mall of America | 33 min | 23 min |
| Drive to University of Minnesota | 44 min | 36 min |
| Average commute to work | 27.7 min | 23.6 min |
| Lakes of 10+ acresMinnesota DNR lake outlines touching the city | 0 | 6 |
Source: US Census Bureau 2024 estimates and TIGER/Line; drive times from OpenStreetMap routing (light traffic).
Elko New Market
School districts: Lakeville Public School District, New Prague Area Schools
Lakeville
School districts: Lakeville Public School District, Farmington Public School District, Rosemount-Apple Valley-Eagan
Largest lakes: Marion Lake (530 acres), Crystal Lake (293 acres), Orchard Lake (238 acres), Kingsley Lake (41 acres), Lee Lake (21 acres)
How we compare places: by their homes, housing market and location only, from public sources, never by who lives there. Medians describe the middle home; both places have homes well above and below them.
Quick answers
Elko New Market or Lakeville?
Is Elko New Market or Lakeville more expensive?
Lakeville. The median sale price was $510,000 there and $465,000 in Elko New Market over the 12 months through September 2026, according to the Minneapolis Area REALTORS® Local Market Update. The median is the middle sale, so both have homes well above and below it.
Where do homes sell faster, Elko New Market or Lakeville?
Lakeville: 58 days on market on average against 65, over the 12 months through September 2026.
Which is closer to downtown Minneapolis?
Lakeville, about 33 minutes by car in light traffic (42 from Elko New Market). To downtown Saint Paul: 43 minutes from Elko New Market, 34 from Lakeville.
How far apart are Elko New Market and Lakeville?
About 9 miles in a straight line between their centers, or roughly 19 minutes by car.
Which has more lakes, Elko New Market or Lakeville?
Lakeville has more: 0 lakes of 10+ acres touch Elko New Market and 6 touch Lakeville (largest: Marion Lake), by Minnesota DNR lake outlines.
Which school districts serve Elko New Market and Lakeville?
Elko New Market: Lakeville Public School District and New Prague Area Schools. Lakeville: Lakeville Public School District, Farmington Public School District and Rosemount-Apple Valley-Eagan. School district lines don't follow city lines, so check the district for a specific address before you buy.
Should I buy in Elko New Market or Lakeville?
It depends on your budget, the kind of home you want and where you need to get to each day. This page compares the homes, prices and locations; a Huerkamp Home Group agent can show you homes in both and walk you through what's selling now.
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Deciding between them?
See homes in Elko New Market and Lakeville.
A Huerkamp Home Group agent can show you homes in both, tell you what's selling and for how much right now, and help you decide. There's no cost to buyers.