Market Overview
Home Prices in Minnetonka, MN
The median home value in Minnetonka, MN is $496,328 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 3.5% compared to a year ago and up 1.7% from two years prior.
Compared to the U.S. national median of $410,000, homes in Minnetonka are priced21% above average. Minnetonka is part of the Minneapolis-St. Paul-Bloomington, MN-WI metro area.
Over the past five years, Minnetonka home values have risen by approximately16.5%, reflecting steady appreciation in this market.
Price History
Minnetonka Home Price Trend
City Comparison
Minnetonka vs. National Median
At $496,328, homes in Minnetonka cost 21% above the national median of $410,000. Buyers in Minnetonka should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Minnetonka?
20% Down Payment
$99,266
on $496,328
Monthly P&I
$2,589/mo
30-yr @ 6.8%
Total Monthly Est.
~$3,288/mo
incl. taxes & insurance
Income Needed
$131,520
gross annual (30% rule)
10% Down Option
$49,633
+ PMI applies
Loan Amount (20% dn)
$397,062
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Minnetonka, MN?
The median home value in Minnetonka is $496,328 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 3.5% year-over-year.
How much have home prices changed in Minnetonka?
Over the past year, home values in Minnetonka have increased by 3.5%. Over five years, prices have risen approximately 16.5%.
How much do I need to earn to buy a home in Minnetonka?
To comfortably afford the median home price of $496,328 with a 20% down payment ($99,266) at today's rates (6.8%), you'd need a gross annual income of approximately $131,520. This assumes keeping total housing costs at or below 30% of gross income.
How does Minnetonka compare to the national average home price?
The national median home value is approximately $410,000. At $496,328, homes in Minnetonka are 21% above the national average.
What metro area is Minnetonka part of?
Minnetonka is part of the Minneapolis-St. Paul-Bloomington, MN-WI metropolitan area. Home prices and market conditions can vary across the broader metro region.