Cost of Living in Minnetonka, MN
Population 53,064 · Census ACS 2020–2024 5-year estimates
The median rent in Minnetonka, MN is $1,779/month, 39% higher than the Minnesota median and 26% higher than the U.S. median. The median home value is $475,800, 43% higher than the national median. Households earn a median of $119,517 a year, 34% higher than the state median.
Affordability
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Minnetonka vs. Minnesota vs. U.S.
| Minnetonka | Minnesota | U.S. | |
|---|---|---|---|
| Median rent | $1,779 | $1,280 | $1,413 |
| Median home value | $475,800 | $329,300 | $332,700 |
| Median household income | $119,517 | $89,062 | $80,734 |
| Homeownership rate | 71.6% | 72.2% | 65.2% |
| Bachelor's degree or higher | 65.0% | 39.4% | 35.7% |
| Poverty rate | 5.9% | 9.3% | 12.5% |
| Unemployment rate | 3.0% | 4.1% | 5.2% |
| Work from home | 27.4% | 17.6% | 15.1% |
| Median age | 42.9 | 38.8 | 38.9 |
FAQ
What is the average rent in Minnetonka, MN?
The median gross rent in Minnetonka, MN is $1,779 per month (ACS 2020–2024 5-year estimate).
How much do I need to earn to live in Minnetonka, MN?
Using the common 30% rule, renting a median-priced home takes about $71,160 a year in gross income.
Is Minnetonka, MN expensive to live in?
Rent there is 26% higher than the U.S. median, and the median home costs about 4.0 times the median household income.
Other cities in Minnesota
Cities with a similar cost of living
Source: U.S. Census Bureau, American Community Survey 5-year estimates. Estimates have margins of error, especially for smaller places. This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
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