Here we can see a simple outline of the cost of living in Lakeville, MN. As you can see, with the average cost of living in Lakeville, MN being 114, that puts it 12% higher than the average of Minnesota and 14% higher than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Lakeville, MN, the price of goods and services are 2% higher than the average of Minnesota as well as 7% higher than the nation's average.