The area of Lakeville was first settled by Euro-Americans in 1836. The railroad in 1845 spurred further growth. By the 1890s there were 13 one-room school houses in the vicinity. In 1898 they were consolidated into one two-story elementary school in Lakeville. The town of Lakeville was incorporated in 1902. The Lakeville post office has been in operation since 1850. Lakeville High School was listed on the National Register of Historic Places in 1991. Continental AG has a factory in Lakeville that is the home of their United States motorsport operations.
Geography
Lakeville is located at . According to the 2010 census, Lakeville has a total area of, all land.
As of the census of 2010, there were 786 people, 367 households, and 193 families living in the town. The population density was. There were 438 housing units at an average density of. The racial makeup of the town was 97.5% White, 0.1% African American, 0.4% Native American, 0.5% from other races, and 1.5% from two or more races. Hispanic or Latino of any race were 3.2% of the population. There were 367 households, of which 31.3% had children under the age of 18 living with them, 33.2% were married couplesliving together, 15.3% had a female householder with no husband present, 4.1% had a male householder with no wife present, and 47.4% were non-families. 42.0% of all households were made up of individuals, and 14.7% had someone living alone who was 65 years of age or older. The average household size was 2.14 and the average family size was 2.94. The median age in the town was 36.5 years. 24.7% of residents were under the age of 18; 8% were between the ages of 18 and 24; 26.7% were from 25 to 44; 26.7% were from 45 to 64; and 13.9% were 65 years of age or older. The gender makeup of the town was 49.0% male and 51.0% female.
2000 census
As of the census of 2000, there were 567 people, 274 households, and 143 families living in the town. The population density was 1,082.5 people per square mile. There were 300 housing units at an average density of 572.8 per square mile. The racial makeup of the town was 97.71% White, 0.35% African American, 0.18% Pacific Islander, 0.18% from other races, and 1.59% from two or more races. Hispanic or Latino of any race were 1.59% of the population. There were 274 households, out of which 21.2% had children under the age of 18 living with them, 35.0% were married couples living together, 13.9% had a female householder with no husband present, and 47.8% were non-families. 43.1% of all households were made up of individuals, and 12.8% had someone living alone who was 65 years of age or older. The average household size was 2.07 and the average family size was 2.90. In the town, the population was spread out, with 22.2% under the age of 18, 11.6% from 18 to 24, 28.7% from 25 to 44, 18.7% from 45 to 64, and 18.7% who were 65 years of age or older. The median age was 37 years. For every 100 females, there were 85.9 males. For every 100 females age 18 and over, there were 86.9 males. The median income for a household in the town was $28,438, and the median income for a family was $43,309. Males had a median income of $31,033 versus $23,036 for females. The per capita income for the town was $15,885. About 13.5% of families and 13.6% of the population were below the poverty line, including 27.2% of those under age 18 and none of those age 65 or over.
