Minnetonka is a substantial city of about 53,000 people in Minnesota, with a high price point that places it firmly in the upper tier of its market.
| State | Minnesota |
|---|---|
| Population | 53,000 |
| Median home value | $590,000 |
| Active listings | 29 |
| Median across Minnesota communities we track | $390,000 |
The Minnetonka housing market
At $590,000, the median home value sits about 51% above the median of the 20 communities we track in Minnesota.
Inventory is thin — roughly 29 active listings at last count. In a market this small, a single well-priced listing can draw multiple offers, and waiting for more selection often means waiting months.
Search homes in Minnetonka
Current listings for Minnetonka are maintained on the following site:
- Luxury homes for sale in Minnetonka — minnetonkaluxuryhomes.com
These are external sites operated independently of 1PropertyHub. We do not control their listings, pricing, or availability, and we are not a party to any transaction arising from them.
Buying in Minnetonka
In this price tier the buyer pool is thinner and pricing accuracy matters more. Homes that miss on price sit, and days on market is a harder signal to recover from than in entry-level markets.
Before you make an offer, work out what the monthly payment actually looks like at this price level. Our mortgage calculator includes property tax, insurance, and mortgage insurance rather than just principal and interest, and the affordability calculator solves backwards from your income to a purchase price a lender would support. If you are weighing a purchase against continuing to rent, the rent vs buy calculator accounts for transaction costs on both ends.
Investing in Minnetonka
For rental investors, the questions here are rent-to-price ratio, the property tax burden, insurance cost, and the depth of the tenant pool at this population size. Underwrite with honest vacancy, management, maintenance, and capital reserves rather than rent minus mortgage — see our cash flow calculator and the rental underwriting guide. Verify short-term rental rules with the municipality before assuming any STR strategy will be permitted.
Nearby communities in Minnesota
- Edina, MN
- St Louis Park, MN
- Cottage Grove, MN
- Eden Prairie, MN
- Lakeville, MN
- Brooklyn Center, MN
- Maple Grove, MN
- Fridley, MN
Frequently asked questions
What is the median home value in Minnetonka, MN?
The median home value in Minnetonka is approximately $590,000. At $590,000, the median home value sits about 51% above the median of the 20 communities we track in Minnesota. Values move with the market and vary widely by neighborhood, condition, and lot — treat this as a starting point and verify against recent closed sales before pricing an offer.
How many homes are for sale in Minnetonka?
There were roughly 29 active listings at last count. Inventory is thin — roughly 29 active listings at last count. In a market this small, a single well-priced listing can draw multiple offers, and waiting for more selection often means waiting months. For current inventory, see Luxury homes for sale in Minnetonka.
What should I know before buying in Minnetonka?
In this price tier the buyer pool is thinner and pricing accuracy matters more. Homes that miss on price sit, and days on market is a harder signal to recover from than in entry-level markets. Beyond the property itself, confirm the property tax rate and any exemptions with the county assessor, and get an insurance quote before you are under contract — both vary far more by location than buyers expect. Our Minnesota state guide covers closing practice and property law.