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This question is about Lakeville, MN.
What is a good salary in Lakeville, MN?
A good salary in Lakeville, MN is anything over $55,000. That's because the median income in Lakeville is $55,000, which means if you earn more than that you're earning more than 50% of the people living in Lakeville. The average salary in Lakeville is $62,429.
A good hourly wage in Lakeville is $26.44 per hour. That works out to a good weekly wage of $1,057 per week and a good monthly wage of $4,583 per month. However, using the median income is only one way to calculate a good salary in Lakeville.
Another way to calculate a good salary in Lakeville is to look at the price of housing and use that to back into a good salary. Experts agree that you want to maintain about a 5 to 1 home price to income ratio. Based on the median home price of $311,100, a good salary in Lakeville would be $62,220.
Lastly, we can determine a good salary in Lakeville by looking at the cost of living and comparing it to the US average salary. The cost of living in Lakeville is 14% higher than than the national average. The national average salary is $56,310, so a good salary in Lakeville is anything over $64,756 by this measure.
Average Annual Salary in Lakeville, MN
| Percentile | Annual Salary | Monthly Pay | Weekly Pay | Hourly Wage |
| 10th | $30,000 | $2,500 | $576 | $14.42 |
| 25th | $40,000 | $3,333 | $769 | $19.23 |
| Median | $55,000 | $4,583 | $1,057 | $26.44 |
| 75th | $76,000 | $6,333 | $1,461 | $36.54 |
| 90th | $101,000 | $8,416 | $1,942 | $48.56 |
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