Lakeville One of Metro’s Fastest Growing Cities

In Blog, Real Estate on May 24, 2018 by Community Expert Team
Lakeville One of Metro’s Fastest Growing Cities

Not only is Lakeville one of the state’s fastest growing cities, but it’s resulted in a shortage of homes in town.

As a result, according to Woodbury Patch, homebuyers need to act fast in order to purchase that Lakeville dream home.

Between 2010 and 2017, Lakeville’s population jumped 10.8 percent, to 61,993 people, the report said, and it’s causing an already difficult home-buying market across the region to be even worse in town.

Across the Twin Cities, the region added 83,100 households between 2010 and 2017, but just 63,670 housing units, the report said, and the remaining 19,430 households occupied existing housing, drawing down vacancy rates.

Today, vacancy rates are down to 4 percent, and are some of the lowest in the country, the report said.

Read more here.

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This local update courtesy of your Lakeville Community Expert.

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