Minnetonka, Minnesota.
Typical home $484,605 (+2.8% in a year), asking rent $1,822 (+4.1%). Minneapolis-St. Paul-Bloomington, MN-WI metro.
to buy the typical home at today's mortgage rate — +$1,220 (+92%) since Jan 2020.
- 1 year
- Up $13,161 +3%
- $471,445$484,605 since Sep 2025
- 5 years
- Up $64,048 +15%
- $420,557$484,605 since Sep 2021
Monthly payment to buy the typical home
Home value × that month's 30-year mortgage rate, 20% down, principal and interest. This is the line households feel: prices and rates compound each other.
- Minnetonka$2,544
- Minnesota$1,831
- United States$1,922
At the last five years' pace, a typical home here doubles in price every 24 years.
Typical home values in Minnetonka, MN rose 2.8% over the past year — faster than the nation's +1.2%.
Asking rents in Minnetonka, MN rose 4.1% over the past year — faster than the nation's +2.7%.
Owning the typical home in Minnetonka runs $1,701/mo more than renting one. The gap peaked at $1,751 in Oct 2023.
That is $3,523 a month against $1,822 rent: a $2,544 mortgage payment, plus $460 property tax and $519 insurance & upkeep.
Owning vs renting — Minnetonka
The owning line is the typical home's monthly payment at that month's rate, plus property tax and insurance & upkeep; the renting line is the typical asking rent; the grey line is the mortgage payment on its own. Same homes, same months, both ways of paying for a roof.
- Owning all in$3,523
- Renting$1,822
- Mortgage only$2,544
Property tax · $460/mo 1.14% of value a year — the ACS 2020-2024 median bill over the median home value for Hennepin County, MN
Insurance & upkeep · $519/mo insurance, maintenance and repairs together, from the BLS Consumer Expenditure Survey — the national figure for mortgaged homeowners, scaled to this market's home value. BLS publishes the three bundled and they cannot be split.
Both are priced off the same month's home value, so they rise with the market. Neither is a quote — a specific home's bill depends on its assessment, its age and its insurer.
Living in Minnetonka, Hennepin County, Minnesota
Minnetonka is a city of 53,781 people in Hennepin County. Half its households earn more than $119,517 a year and half less, against $97,653 across Hennepin County; 6% of its people live below the poverty line. 72% of its homes are lived in by their owners and 28% are rented. Unemployment in Minnetonka was 4.6% in August 2026, and Hennepin County had 0.2% more jobs in 2025 than the year before. The most residents work in schools and health care, then professional services.
Written by AI Claude Sonnet 5.5 wrote this on 23 October 2026 from the figures here, a list of nearby places and what it knows. It can be wrong or out of date.
What it’s like
The place. Minnetonka is a city in Hennepin County and a sizable suburb, with residents who skew somewhat older than in the typical American town and a majority of households that own the home they live in. Incomes run well above the county's, and a large majority of adults hold a four-year degree. Winters are cold and snowy, with January the coldest month, while July brings warm summer days and the year is fairly wet overall.
Work. Residents work mainly in schools, hospitals and social care, in professional and business services, in manufacturing, and in banks, insurance and property. Among the largest workplaces in the city are Abbott, which makes medical devices, Veolia WTS Solutions USA, a water treatment equipment maker, and Target. Commutes are fairly short, and many people work from home at least part of the time.
Things to do. Lake Minnetonka is a short drive away and is the natural place for time on the water. For art, the Minneapolis Institute of Art and the Walker Art Center are both museums a short drive away. Baseball fans can reach Target Field, a stadium, with a short drive as well.
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- 23,515households
- 65%of adults have a degree
- 6%below the poverty line
- 19 mintypical commute
- 27%work from home
What residents work in
Employed residents by industry, from the Census survey. Hennepin County had 919,062 jobs in 2025, 0.2% more than the year before (Bureau of Labor Statistics).
Weather through the year
Coldest in January, with highs near 24° and lows near 7°; warmest in July, with highs near 82° and lows near 63°. About 54 inches of snow and 35 inches of rain and melted snow a year.
Average daily high and low, 1991–2020, at the New Hope weather station, 7 miles away (NOAA).
Largest workplaces in Minnetonka
- AbbottElectromedical and electrotherapeutic medical devices722
- Veolia WTS Solutions USAWater treatment equipment manufacturing419
- TargetDiscount department stores369
- AbbottElectromedical and electrotherapeutic medical devices343
- TargetDiscount department stores314
- Select Source InternationalStaffing300
- Applied ProductsMan-made fibers merchant wholesalers294
- Rainbow CompaniesLandscape care and maintenance services288
Staff on average in 2025, as each workplace reported it to OSHA with its injury records: 89 workplaces with 20 or more staff, 9,044 people in all. Not listed: many offices and banks, which need not report to OSHA; military bases, whose staff OPM withholds; and, in about half the states, city and county governments.
Natural hazards
- Cold wavesRelatively high
- Hailrelatively high in parts of MinnetonkaRelatively moderate
- Tornadoesrelatively high in parts of MinnetonkaRelatively moderate
- Heat wavesRelatively moderate
- Winter weatherRelatively moderate
FEMA’s National Risk Index (December 2025) rates the risk each natural hazard poses to the people, buildings and farms in Minnetonka’s census tracts, against the rest of the country; all of them together, relatively low. It is meant for planning, not a substitute for a local risk assessment or a flood map: FEMA’s index.
From the U.S. Census Bureau’s 2020 census and its American Community Survey (2020–2024 five-year estimates), and the Bureau of Labor Statistics. A survey, so each figure has a margin of error, and figures it is not sure of are left out. More on Hennepin County and the Minneapolis-St. Paul-Bloomington, MN-WI metro.
Minnetonka home values
Zillow measures a city over its municipal boundary. Against the state and national figures, mid-tier homes, smoothed and seasonally adjusted.
- Minnetonka$484,605
- Minnesota$348,778
- United States$366,157
Levy by levy, and a check of one home’s own bill, the site covers Ohio’s property tax.
Sellers are cutting prices on about 1 in 3 Minnetonka listings, and the typical home goes pending in 31 days — the market is cooling.
When this market ran hot
Each cell is that month's year-on-year home-value growth. Read left to right, top row is the latest year — the 2021–22 band is the boom.
Market heat, inside the city limits
Share of listings with a price cut
The early-warning dial: sellers cut when buyers stop reaching. Rising cuts cool a market months before prices notice.
- Minnetonka32.27%
- United States26.90%
Days to pending
How long the typical listing takes to go under contract.
- Minnetonka31
- United States27
Homes for sale
Active for-sale inventory. More supply hands power to buyers.
- Minnetonka244
New listings per month
Sellers arriving at the market.
- Minnetonka79
Median sale price
What buyers actually paid — closed sales, not asking prices.
- Minnetonka$456,744
- United States$371,407
Sale-to-list ratio
Above 100%, homes sell over asking; below, buyers negotiate wins.
- Minnetonka100.11%
Zip codes with a Minnetonka address
A different geography, not a breakdown. The figure above covers the municipality; these zips cover everywhere the Post Office calls Minnetonka — often including townships beyond the city limits. Both come straight from Zillow, and they are not expected to average out.
Zip codes in Minnetonka
| Zip activate to sort by Zip | Place activate to sort by Place | Population sorted descending, activate to sort ascending | Rent activate to sort by Rent | Home value activate to sort by Home value |
|---|---|---|---|---|
| 55305 | Hopkins | 21,068 | $1,922 | $459,472 |
| 55345 | Minnetonka | 20,789 | $1,627 | $538,280 |