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Dakota County, MN

RANK #624 / 996  ·  POP 439,179  ·  MN

PROJECTED GROWTH: +0.3%

Dakota County shows below-average economic momentum. Growth signals are flat or softening.

[01] Why Dakota County?

Dakota County, Minnesota, stands out for its extensive park system, with Lebanon Hills Regional Park being a major highlight, offering nearly 2,000 acres of trails and lakes for year-round outdoor activities. Located in the southeastern Twin Cities metropolitan area, the county is bordered by the Mississippi and Minnesota Rivers, providing scenic natural landscapes. Commuting to Minneapolis and St. Paul is facilitated by major interstates and transit options, including bus rapid transit lines. The community offers a blend of urban, suburban, and rural environments.

Life in Dakota County is characterized by a high quality of life, with residents consistently rating it favorably. The area attracts families and professionals, many of whom commute to nearby cities. Public schools in Dakota County are highly rated, with several high schools recognized among the best in Minnesota. The local economy is seeing investment in sectors such as data centers and energy, contributing to job opportunities within the county. The county also focuses on providing quality workforce housing and enhancing transportation networks.

[02] Market Snapshot

Housing Ratio
5.1x

Above national median (4.7x)

GDP Growth
+4.0%

Well above national median

Home Prices
+1.3%

Below national median

Climate & Terrain
-3.0

Harsh climate or flat terrain

Price/Rent
17x

Above national median (13x)

Housing is fairly valued at 5.1x relative to local economic output. The typical U.S. county is 4–6x.

[03] Signal Profile

[04] Home Value Growth vs National

Dakota County U.S. National

The Numbers

DEMOGRAPHICS
Population
439,179
+0.76% YoY
Median Household Income
$101,360
Median Home Value
$341,200
+1.32% 12mo
Median Rent
$1,410
Average Annual Pay
$72,792
+4.5% YoY
Employment
189,387
+0.7% YoY
Income-to-Home-Value
0.2971
More affordable than average
Migration Inflow
4.68%
of pop. from another state

Market Activity

REAL ESTATE
Median Sale Price
$389,000
Days on Market
65
Slower market
Months of Supply
3.0
Balanced market
Sale-to-List Ratio
99.1%
Near asking price
Sold Above List
27.6%
Listings w/ Price Drops
26.8%
Building Permits (2024)
2,146
Single-Family Permits
1,236

Source: Redfin · Census BPS — Browse sales on Redfin →

[05] Capital Investment

$7,250M
TOTAL
PROJECT AMOUNT STATUS
Farmington Technology Park (Hyperscale Data Center Campus)
Tract Development
$5,000M Proposed
Oppidan MN Technology Park (5 Data Centers)
Oppidan
$1,000M Proposed
Meta Data Center
Meta
$800M Under Construction
HAMPTON 345 KV Battery Energy Storage System
Undisclosed
$300M Planned
Castle Rock Solar Project
Castle Rock Solar, LLC (Midcontinental Renewables, LLC)
$150M Proposed

Source: public records, news, corporate announcements. Amounts are estimates where noted.

[06] Score Breakdown

GDP Growth +4.0% 74 percentile
Population Growth +0.8% 63 percentile
Income Growth +8.0% 35 percentile
Vacancy Rate 0.6% 90 percentile
Home Price Change +1.3% 50 percentile
Rent Growth +3.1% 52 percentile
Price/Rent 17x 19 percentile

Bars show percentile rank among all 996 counties.

[07] Frequently Asked Questions

Is Dakota County, MN a good place to move to?

Dakota County has a Boom Town Index score of 37/100, ranking #624 among 996 U.S. counties. With job growth at +0.7% and a median household income of $101,360, it faces some economic headwinds compared to faster-growing counties.

Is Dakota County affordable?

The median home value in Dakota County is $341,200 with median rent at $1,410/month. The income-to-home-value ratio is 0.2971, which is more affordable than the national average.

Is Dakota County growing or shrinking?

Population growth: +0.8% year-over-year. Job growth: +0.7%. Home values changed +1.3% in the past 12 months.

Are people moving to Dakota County?

Yes — 4.68% of Dakota County's population moved from another state, which is above the national average and indicates strong in-migration.

[08] Similar Metros

Santa Clara County, CA 47 Clay County, MN 47 Spotsylvania County, VA 47 Stafford County, VA 47 Watauga County, NC 47 Warren County, KY 47 Muskogee County, OK 47 Blount County, TN 47