Is Phoenix, AZ cheaper than Lakeville, MN?

Based on cost of living data, Phoenix, AZ is 0.7% cheaper than Lakeville, MN. The two cities have very similar living costs.

What salary do I need in Phoenix, AZ to live like I do in Lakeville, MN?

If you earn $150,000 in Lakeville, MN, you'd need approximately $149,356.322 in Phoenix, AZ to maintain the same standard of living.

How does housing cost compare between Lakeville, MN and Phoenix, AZ?

Housing in Phoenix, AZ is 14.7% more expensive than in Lakeville, MN. For a two-bedroom apartment, rent is $1,750/month in Phoenix, AZ compared to $1,783/month in Lakeville, MN.

How much can I save per month by moving from Lakeville, MN to Phoenix, AZ?

Moving from Lakeville, MN to Phoenix, AZ could save you approximately $54 per month, or $644 per year, based on a $150,000 salary.

Lakeville, MN vs Phoenix, AZ: Cost of Living Comparison 2026

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Cost of Living Comparison 2026

📍 Lakeville, MN — ZIP-level rent data · COL adjusted from Minneapolis, MN area

Current salary in Lakeville, MN

Numbers update automatically as you type

You'd save $53.64/month moving to Phoenix, AZ

$150.0K in your current city equals $149.4K in Phoenix, AZ

Rent data from HUD ZIP-level estimates · COL index from Minneapolis-St. Paul-Bloomington, MN-WI area

Overall Cost

↓ 0.7%

Less expensive

Monthly Impact

$53.64

Savings

Annual Impact

$644

Per year

Based on monthly living costs (rent, groceries, utilities, transport, healthcare). Home purchase prices shown separately below.

Lakeville, MN

Population:76K

Cost Index:100

Median Home:$503K

Phoenix, AZ

Population:1608K

Cost Index:99

Median Home:$414K

Lakeville, MN

The North Star State

76K

Population

State Tax

Yes

Located in Minnesota, this city has a population of 76K residents.

Phoenix, AZ

The Grand Canyon State

1.6M

Population

State Tax

Yes

Climate

Hot desert

Notable Facts

•Fastest growing major city
•Desert metropolis
•Spring training capital

Major Industries

TechnologyHealthcareTourismManufacturing

Cost Breakdown by Category

Annual spending: Lakeville, MN vs Phoenix, AZ

Category	Lakeville, MN	Phoenix, AZ	Difference	Change
🏠Housing	$2,431/mo	$2,788/mo	↑ $357more	14.7%
🚗Transportation	$1,328/mo	$1,489/mo	↑ $161more	12.1%
🏥Healthcare	$742/mo	$589/mo	↓ $153less	20.6%
⚡All Utilities	$499/mo	$561/mo	↑ $62.64more	12.6%
🛒Groceries	$1,010/mo	$963/mo	↓ $46.44less	4.6%
📦Other	$1,708/mo	$1,677/mo	↓ $30.44less	1.8%

🏠Housing

↑ 14.7%

Lakeville, MN

$2,431

Phoenix, AZ

$2,788

Difference

$357

🚗Transportation

↑ 12.1%

Lakeville, MN

$1,328

Phoenix, AZ

$1,489

Difference

$161

🏥Healthcare

↓ 20.6%

Lakeville, MN

$742

Phoenix, AZ

$589

Difference

$153

less

⚡All Utilities

↑ 12.6%

Lakeville, MN

$499

Phoenix, AZ

$561

Difference

$62.64

🛒Groceries

↓ 4.6%

Lakeville, MN

$1,010

Phoenix, AZ

$963

Difference

$46.44

less

📦Other

↓ 1.8%

Lakeville, MN

$1,708

Phoenix, AZ

$1,677

Difference

$30.44

less

🏠Rent Comparison

Studio

From$1,293

To$1,390

↑ $97.00

1 Bed

From$1,464

To$1,510

↑ $46.00

2 Bed

From$1,783

To$1,750

↓ $33.00

3 Bed

From$2,364

To$2,330

↓ $34.00

Lakeville, MNZIP-level data

1BR range: $1,790–$1,790/mo

Phoenix, AZZIP-level data

1BR range: $1,300–$2,380/mo

💡 Note: Rent prices are based on HUD Fair Market Rent data and represent median costs. Actual prices vary by neighborhood, amenities, and condition. Source: HUD Small Area Fair Market Rents FY2026.

$7,717

Monthly in Lakeville, MN

$8,068

Monthly in Phoenix, AZ

$351

Difference

Home Values

Lakeville

Phoenix

$503K

Median Value

$414K

↑ +0.7%

YoY Change

↓ -3.1%

↑ +21.8%

5-Year Change

↑ +30.2%

$503K

Price Range

$274K - $957K

Homes in Phoenix are 18% less expensive than Lakeville

Calculate payment - Lakeville Calculate payment - Phoenix

Source: Zillow Home Value Index (ZHVI), January 2026

Tax Comparison

Annual tax burden comparison at $150.0K salary

Tax Savings

↑ $5.2K

Per year

Monthly Difference

$433

More take-home

Effective Rate Diff

3.5%

Rate difference

Lakeville, MN

Federal Income Tax

Effective: 18.9%

$25.5K

Minnesota State Tax

Effective: 7.0%

$10.4K

FICA Taxes

Social Security + Medicare

$11.5K

Total Taxes

Effective: 31.6%

$47.4K

Take-Home Pay

$8,546/month

$102.6K

Phoenix, AZ

Federal Income Tax

Effective: 18.9%

$25.5K

Arizona State Tax

Effective: 3.5%

$5.2K

FICA Taxes

Social Security + Medicare

$11.5K

Total Taxes

Effective: 28.2%

$42.2K

Take-Home Pay

$8,979/month

$107.8K

Additional Tax Information

Lakeville, MN Tax Rates

Sales Tax:8.0%

Property Tax:1.1%

Phoenix, AZ Tax Rates

Sales Tax:8.5%

Property Tax:0.6%

💡 Note: Tax calculations are estimates based on 2024/2025 tax brackets for single filers with standard deduction. Actual taxes may vary based on filing status, deductions, credits, and local variations.