Cost of Living in Minnetonka, MN
Population: 53,256 • 2026 Data
$120,496
Median Household Income
+56% vs national
$1,758
Median Monthly Rent
+30% vs national
$456,200
Median Home Value
+35% vs national
2.2%
Unemployment Rate
Housing in Minnetonka
The median home value in Minnetonka, MN is $456,200. Monthly rent for a typical unit averages $1,758, while total monthly housing costs (including utilities and insurance) average $1,816.
Rent-to-income ratio: 17.5%. This is within the recommended 30% threshold, suggesting housing is relatively affordable for median-income earners.
Income and Employment
The median household income in Minnetonka, MN is $120,496. The unemployment rate stands at 2.2%, with a labor force of 29,616 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.