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Minnetonka, MN—55305

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$470,000
3.2% YoY Growth
Household Income
$106,000
41.6% YoY Growth
Days on Market
42
9.0% Longer YoY
Home Price Forecast
-1.3%
Median Rent
$1,700
6.5% YoY Growth
1-Bed Rent
$1,560
0.0% YoY Growth
2-Bed Rent
$1,750
0.9% YoY Growth
3-Bed Rent
$2,500
11.3% YoY Growth

Other Zip Codes in Minnetonka, MN

55345
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Minnetonka, MN

As of May '26, the median home price in Minnetonka, MN is $470,000, with a year-over-year change of 3.2%. This indicates that home prices in Minnetonka, MN are increasing. According to Zillow, the 1-year price projection is -1.3%, suggesting a decrease housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$470,0003.2%
Single Family $549,0003.8%
Condos $224,000-0.9%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • $133,000
    -2.9%
    2 Bed
    		$306,0001.7%
    3 Bed
    		$480,0003.7%
    4 Bed
    		$617,0003.5%
    5 Bed $889,3783.8%
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    % of Housing Stock

    Studio
    2.7%
    1 Bedroom
    22.0%
    2 Bedrooms
    33.1%
    3 Bedrooms
    21.2%
    4 Bedrooms
    14.1%
    5+ Bedrooms
    6.9%

    Rental Trends — Minnetonka, MN

    As of July '25, Rentcast reports the average rent in Minnetonka, MN is $2,030, with a year-over-year rent change of -6.5%. Per bedroom, the median rent as of July '25 in Minnetonka, MN is studios: $1,610, 1-bedrooms: $1,580, 2-bedrooms: $2,180, 3-bedrooms: $2,760, 4-bedrooms: $3,550. The most common rental property sizes in Minnetonka, MN are 2-bedroom and 1-bedroom, accounting for 45.6% and 43.8% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$1,700$2,030
    Studio Rent $1,530$1,610
    1 Bed Rent $1,560$1,580
    2 Bed Rent $1,750$2,180
    3 Bed Rent $2,500$2,760
    4 Bed Rent $3,500$3,550
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    % of Rental Stock

    Studio
    4.1%
    1 Bedroom
    43.8%
    2 Bedrooms
    45.6%
    3 Bedrooms
    6.3%
    4 Bedrooms
    0.2%

    Property Listings — Minnetonka, MN

    As of May '26, Realtor.com reports that the median days on market for a home in Minnetonka, MN is 42. This is a increase of 9.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 22.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$440,0002.0%
    Listing Count
    		936.0%
    Listings as % of Homes0.3%6.0%
    Days on Market
    		429.0%
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    Demographics — Minnetonka, MN

    As of the latest ACS Survey released in 2023, Minnetonka, MN has a population of 21,300, which has increased by 2.2% over the past 5 years. Minnetonka, MN is a moderately popular place for families, as children make up 19.1% of the population. The area has a highly educated workforce, with 61.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 24.1% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		21,3002.2%
    % Under 18
    		19.1%7.3%
    % Seniors
    		23.4%13.0%
    % WFH
    		24.1%282.5%
    % w/ College Degree
    		61.0%3.6%
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    As of the latest ACS Survey released in 2023, Minnetonka, MN is a predominantly white area, with 78.0% of the population identifying as white. The white population has shrunk by 3.3% in the last 5 years. The second most common race or ethnicity in Minnetonka, MN is asian, making up 9.7% of the population. Foreign-born residents account for 14.1% of the population in Minnetonka, MN, and this percentage has increased by 2.9% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		78.0%-3.3%
    % Black
    		4.5%-42.3%
    % Hispanic
    		4.5%104.5%
    % Asian
    		9.7%40.6%
    % Foreign Born
    		14.1%2.9%
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    Mortgage and Risk — Minnetonka, MN

    According to HUD data as of 2023, there were 307 mortgage originations in Minnetonka, MN, of which 96.0% of loans were conventional mortgages. The average loan-to-value was 56.0%, with 16.0% above 90% LTV (elevated). This implies medium mortgage risk in Minnetonka, MN. Investor activity is low, as 3.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		307
    % Conventional Loans
    		96.0%
    % Government Loans
    		4.0%
    % Investor Loans
    		3.0%
    % Second Loans
    		1.0%
    % Cash Out Refinance
    		8.0%
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    Rentals and Section 8 — Minnetonka, MN

    As of 2024, the percent of homes in Minnetonka, MN under the Section 8 program is 3.4%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Minnetonka, MN, because HUD payments exceed market rent, while 4-bedroom units do not.

    Section 8 Market Size

    Total Units under HUD
    		202
    Total Units Section 8
    		150
    % Rentals under Section 8
    		3.4%
    % Occupied Section 8
    		94.2%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$110$1,560$1,670
    2 Bedroom$290$1,750$2,040
    3 Bedroom$220$2,500$2,720
    4 Bedroom-$460$3,500$3,040

    Affordability — Minnetonka, MN

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio4.1
    Median Home Price$470,000
    Median Household Income$106,000

    Minnetonka, MN — ZIP Code Boundary Map

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    Nearby ZIP Codes

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    Frequently Asked Questions