Compare cities · September 2026
Lakeville vs. Richfield
Homes in Lakeville sold for a median $510,000 over the 12 months through September 2026, 44% more than in Richfield ($355,000). Homes sold faster in Richfield: 38 days on market on average, against 58 in Lakeville. Lakeville's homes are newer, with a median year built of 1999 against 1959. Richfield is closer to downtown Minneapolis: about 16 minutes by car, against 33. The two are about 14 miles apart.
Housing market, 12 months through September 2026
| Measure | Lakeville | Richfield |
|---|---|---|
| Median sale price | $510,000 | $355,000 |
| Change from a year earlier | +2.0% | −2.7% |
| Homes sold | 1,131 | 412 |
| Days on market | 58 | 38 |
| Share of original list price | 97.9% | 99.3% |
| Price per square foot | $205 | $216 |
| New listings | 2,041 | 536 |
| Homes for sale (September 2026) | 405 | 85 |
| Months of supply (September 2026) | 4.3 | 2.5 |
Source: Minneapolis Area REALTORS® Local Market Update (NorthstarMLS data).
The homes
| Measure | Lakeville | Richfield |
|---|---|---|
| Median home value (owner estimate) | $452,500 | $344,000 |
| Median year built | 1999 | 1959 |
| Single-family homesShare of all housing units, detached houses | 88% | 62% |
| Owner-occupied homes | 88% | 62% |
| Median rent | $1,806 | $1,393 |
Source: US Census Bureau, American Community Survey 2020–2024.
The place
| Measure | Lakeville | Richfield |
|---|---|---|
| Population (2024) | 77,971 | 36,491 |
| Land area | 36.9 sq mi | 6.8 sq mi |
| Drive to Downtown Minneapolis | 33 min | 16 min |
| Drive to Downtown Saint Paul | 34 min | 25 min |
| Drive to MSP Airport | 28 min | 13 min |
| Drive to Mall of America | 23 min | 9 min |
| Drive to University of Minnesota | 36 min | 19 min |
| Average commute to work | 23.6 min | 23.1 min |
| Lakes of 10+ acresMinnesota DNR lake outlines touching the city | 6 | 3 |
Source: US Census Bureau 2024 estimates and TIGER/Line; drive times from OpenStreetMap routing (light traffic).
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)
Richfield
School districts: Richfield Public School District
Largest lakes: Legion Lake (56 acres), Wood Lake (42 acres), Richfield Lake (25 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
Lakeville or Richfield?
Is Lakeville or Richfield more expensive?
Lakeville. The median sale price was $510,000 there and $355,000 in Richfield 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, Lakeville or Richfield?
Richfield: 38 days on market on average against 58, over the 12 months through September 2026.
Which is closer to downtown Minneapolis?
Richfield, about 16 minutes by car in light traffic (33 from Lakeville). To downtown Saint Paul: 34 minutes from Lakeville, 25 from Richfield.
How far apart are Lakeville and Richfield?
About 14 miles in a straight line between their centers.
Which has more lakes, Lakeville or Richfield?
Lakeville has more: 6 lakes of 10+ acres touch Lakeville (largest: Marion Lake) and 3 touch Richfield (largest: Legion Lake), by Minnesota DNR lake outlines.
Which school districts serve Lakeville and Richfield?
Lakeville: Lakeville Public School District, Farmington Public School District and Rosemount-Apple Valley-Eagan. Richfield: Richfield Public School District. School district lines don't follow city lines, so check the district for a specific address before you buy.
Should I buy in Lakeville or Richfield?
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.
Deciding between them?
See homes in Lakeville and Richfield.
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.