Minnetonka, MN—55305
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Minnetonka, MN
Home Price Trends — Minnetonka, MN
As of Oct '25, the median home price in Minnetonka, MN is $449,000, with a year-over-year change of 2.9%. This indicates that home prices in Minnetonka, MN are increasing. According to Zillow, the 1-year price projection is -0.5%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $449,000 | 2.9% |
| Single Family | $523,000 | 3.2% |
| Condos | $218,000 | 0.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $137,000 | -1.4% |
2 Bed | $298,000 | 1.0% |
3 Bed | $458,000 | 3.2% |
4 Bed | $587,000 | 2.8% |
| 5 Bed | $851,000 | 2.7% |
% of Housing Stock
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.
| Type | Median Rent | Average 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 |
% of Rental Stock
Property Listings — Minnetonka, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Minnetonka, MN is 55. This is a increase of 14.0% 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 29.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $386,000 | -10.0% |
Listing Count | 97 | 20.0% |
| Listings as % of Homes | 0.3% | 20.0% |
Days on Market | 55 | 14.0% |
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.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 21,300 | 2.2% |
% Under 18 | 19.1% | 7.3% |
% Seniors | 23.4% | 13.0% |
% WFH | 24.1% | 282.5% |
% w/ College Degree | 61.0% | 3.6% |
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
| Metric | Latest Census | 5-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% |
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
| Metric | Zip 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% |
Loan Activity
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 Size | HUD Premium | Market Rent | Max 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
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4 |
| Median Home Price | $449,000 |
| Median Household Income | $106,000 |