Minnetonka, MN—55345
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 $519,000, with a year-over-year change of 2.5%. This indicates that home prices in Minnetonka, MN are increasing. According to Zillow, the 1-year price projection is -0.6%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $519,000 | 2.6% |
| Single Family | $527,000 | 2.5% |
| Condos | $273,000 | -1.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $331,000 | 0.6% |
3 Bed | $460,000 | 2.4% |
4 Bed | $580,000 | 2.5% |
| 5 Bed | $719,000 | 1.7% |
% of Housing Stock
Rental Trends — Minnetonka, MN
As of July '25, Rentcast reports the average rent in Minnetonka, MN is $2,830, with a year-over-year rent change of -16.5%. Per bedroom, the median rent as of July '25 in Minnetonka, MN is studios: $1,230, 2-bedrooms: $2,180, 3-bedrooms: $2,640, 4-bedrooms: $4,790. The most common rental property sizes in Minnetonka, MN are 1-bedroom and 2-bedroom, accounting for 53.3% and 21.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,500 | $2,830 |
| Studio Rent | $1,190 | $1,230 |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $2,100 | $2,180 |
| 3 Bed Rent | $2,500 | $2,640 |
| 4 Bed Rent | $3,080 | $4,790 |
% 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 46. This is a decrease of 0.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 21.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $555,000 | 0.0% |
Listing Count | 84 | 9.0% |
| Listings as % of Homes | 0.5% | 9.0% |
Days on Market | 46 | 0.0% |
Demographics — Minnetonka, MN
As of the latest ACS Survey released in 2023, Minnetonka, MN has a population of 21,300, which has decreased by -3.0% over the past 5 years. Minnetonka, MN is a popular place for families, as children make up 25.5% of the population. The area has a highly educated workforce, with 64.2% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 28.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 21,300 | -3.0% |
% Under 18 | 25.5% | 10.4% |
% Seniors | 21.1% | 9.3% |
% WFH | 28.2% | 196.8% |
% w/ College Degree | 64.2% | 7.2% |
As of the latest ACS Survey released in 2023, Minnetonka, MN is a predominantly white area, with 83.2% of the population identifying as white. The white population has shrunk by 8.8% in the last 5 years. The second most common race or ethnicity in Minnetonka, MN is hispanic, making up 5.4% of the population. Foreign-born residents account for 8.9% of the population in Minnetonka, MN, and this percentage has increased by 39.1% 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 | 83.2% | -8.8% |
% Black | 2.0% | 17.6% |
% Hispanic | 5.4% | 157.1% |
% Asian | 5.2% | 173.7% |
% Foreign Born | 8.9% | 39.1% |
Mortgage and Risk — Minnetonka, MN
According to HUD data as of 2023, there were 455 mortgage originations in Minnetonka, MN, of which 94.0% of loans were conventional mortgages. The average loan-to-value was 54.0%, with 15.0% above 90% LTV (elevated). This implies medium mortgage risk in Minnetonka, MN. Investor activity is low, as 3.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 455 |
% Conventional Loans | 94.0% |
% Government Loans | 6.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Minnetonka, MN
Minnetonka, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 313 |
Total Units Section 8 | 287 |
% Rentals under Section 8 | 24.9% |
% Occupied Section 8 | 93.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,610 |
| 2 Bedroom | -$140 | $2,100 | $1,960 |
| 3 Bedroom | $110 | $2,500 | $2,610 |
| 4 Bedroom | -$160 | $3,080 | $2,920 |
Affordability — Minnetonka, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $519,000 |
| Median Household Income | $143,000 |