Wayzata, MN
Population 4,363 · Minnesota
About Wayzata, MN
Wayzata is a small town located in Minnesota with a population of 4,363 residents according to the latest US Census Bureau American Community Survey data. The median household income is $125,344 per year, which is 67% above the national median of $75,149. The median age of 58.5 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Wayzata features a median home value of $1,047,400, which is 328% above the national median of $244,900. This places Wayzata in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $1,507, 30% above the national average of $1,163/month. Of the 2,566 total housing units, 60% are owner-occupied (1,296 units) and 40% are renter-occupied (853 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Wayzata shows an unemployment rate of 1.4%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 6.3%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Wayzata have an average one-way commute time of 17.6 minutes, one of the shorter commutes in the region.
Education & Demographics
72.2% of Wayzata residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 3.8% White, 0.4% Hispanic or Latino, 0.1% Black or African American, and 1.4% Asian residents, with 9.8% of the population being foreign-born.
How Wayzata Ranks in Minnesota
Cost of Living in Wayzata, MN
Compared to national averages, Wayzata has a median household income of $125,344 (67% above the national median of $75,149). Home values average $1,047,400, which is 328% above the national median. Monthly rent at $1,507 is 30% above the US average of $1,163. Within Minnesota, Wayzata's income is 69% above the state average of $74,221, and home values are 412% above the state median of $204,472.
Why Live in Wayzata, MN?
Wayzata offers a strong local economy with a median household income of $125,344, well above the national average, and a strong job market with an unemployment rate of just 1.4%, and a well-educated community where 72.2% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 6.3%, better than the national average, and short commute times averaging just 17.6 minutes.
Potential considerations include a competitive housing market where the typical home costs $1,047,400. However, Wayzata’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Wayzata has a population of 4,363 with a median age of 58.5 years. Compare Wayzata with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Wayzata
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Wadena | 4,361 | $45,850 | $158,700 | Compare |
| Newport | 4,460 | $63,365 | $331,300 | Compare |
| Park Rapids | 4,226 | $45,800 | $218,500 | Compare |
| Cannon Falls | 4,216 | $80,515 | $262,100 | Compare |
| Columbus | 4,211 | $117,917 | $439,200 | Compare |
| Rockford | 4,521 | $82,228 | $265,900 | Compare |
| Le Sueur | 4,204 | $71,563 | $216,700 | Compare |
| Cold Spring | 4,201 | $72,022 | $242,000 | 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.
Compare Wayzata With Other Cities
Frequently Asked Questions about Wayzata
What is the population of Wayzata, MN?
The population of Wayzata, MN is 4,363 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Minnesota.
What is the median household income in Wayzata?
The median household income in Wayzata, MN is $125,344 per year, which is 67% above the national median of $75,149.
What is the median home value in Wayzata?
The median home value in Wayzata, MN is $1,047,400, which is 328% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Wayzata?
The median monthly rent in Wayzata, MN is $1,507, which is 30% above the national average of $1,163/month.
What is the unemployment rate in Wayzata?
The unemployment rate in Wayzata, MN is 1.4%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Wayzata, MN a good place to live?
Wayzata offers above-average incomes, a competitive housing market, and a strong job market. With a population of 4,363 and a median age of 58.5, the city appeals to established professionals and retirees.
How educated is Wayzata, MN?
72.2% of residents in Wayzata aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Wayzata?
Key cost-of-living indicators for Wayzata, MN: median home value is $1,047,400 (328% above national), median rent is $1,507/month, and median household income is $125,344. The home-value-to-income ratio is 8.4x, which suggests housing may be stretched relative to local earnings.
What is the poverty rate in Wayzata?
The poverty rate in Wayzata, MN is 6.3%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Wayzata, MN?
Wayzata's population is 3.8% White, 0.4% Hispanic or Latino, 0.1% Black or African American, 1.4% Asian, and 0.8% two or more races. 9.8% of residents are foreign-born.