Minnetonka, MN
Population 53,256 · Minnesota
About Minnetonka, MN
Minnetonka is a mid-sized city in Minnesota with a population of 53,256 residents. The median household income is $120,496 per year, which is above the national average. The median age in Minnetonka is 42.8 years.
Housing in Minnetonka has a median home value of $456,200 and median monthly rent of $1,758. Of the 24,595 total housing units, the majority are owner-occupied, with 16,917 owner-occupied and 6,431 renter-occupied units.
The unemployment rate in Minnetonka is 2.2% and the poverty rate is 4.8%. 63.3% of residents hold a bachelor's degree or higher. The average commute time is 20.1 minutes.
How Minnetonka Ranks in Minnesota
Cost of Living in Minnetonka, MN
Compared to national averages, Minnetonka has a median household income of $120,496 (60% above the national median of $75,149). Home values average $456,200, which is 86% above the national median. Monthly rent at $1,758 is 51% above the US average of $1,163. Within Minnesota, Minnetonka's income is 62% above the state average of $74,221, and home values are 123% above the state median of $204,472.
Why Live in Minnetonka, MN?
Minnetonka offers a strong local economy with a median household income of $120,496, well above the national average, and a strong job market with an unemployment rate of just 2.2%, and a well-educated community where 63.3% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 4.8%, better than the national average, and short commute times averaging just 20.1 minutes.
Potential considerations include a competitive housing market where the typical home costs $456,200. However, as a mid-sized city, Minnetonka provides access to a wide range of amenities and services.
Minnetonka has a population of 53,256 with a median age of 42.8 years. Compare Minnetonka with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Minnetonka
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Edina | 53,125 | $129,225 | $624,000 | Compare |
| Apple Valley | 55,696 | $99,277 | $354,200 | Compare |
| St. Louis Park | 49,541 | $100,250 | $371,600 | Compare |
| Shakopee | 45,002 | $110,989 | $361,400 | Compare |
| Mankato | 44,882 | $64,826 | $250,600 | Compare |
| Moorhead | 44,706 | $69,371 | $246,300 | Compare |
| Eden Prairie | 63,249 | $127,732 | $463,300 | Compare |
| Coon Rapids | 63,348 | $86,618 | $287,200 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Minnesota
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Minnetonka
What is the population of Minnetonka, MN?
The population of Minnetonka, MN is 53,256 according to the latest Census data.
What is the median household income in Minnetonka?
The median household income in Minnetonka, MN is $120,496 per year.
What is the median home value in Minnetonka?
The median home value in Minnetonka, MN is $456,200.
What is the average rent in Minnetonka?
The median monthly rent in Minnetonka, MN is $1,758.
What is the unemployment rate in Minnetonka?
The unemployment rate in Minnetonka, MN is 2.2%.