Minnetonka, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Minnetonka Neighborhoods Since 2000




Minnetonka, MN Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Minnetonka Housing Market Information

With 51,669 people, 22,676 houses or apartments, and a median cost of homes of $334,992, Minnetonka house prices are not only among the most expensive in Minnesota, Minnetonka real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Minnetonka, accounting for 55.86% of the city's housing units. Other types of housing that are prevalent in Minnetonka include large apartment complexes or high rise apartments ( 30.72%), row houses and other attached homes ( 10.64%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.55%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Minnetonka. Owner-occupied housing accounts for 69.96% of Minnetonka's homes, and 51.70% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Minnetonka built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Minnetonka built between 1940-1969 ( 31.40%). A lesser amount of the housing stock also hails from between 2000 and later ( 5.58%). There's also some housing in Minnetonka built before 1939 ( 3.81%).

Minnetonka Home Appreciation Rates

Real estate appreciation rates in Minnetonka's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.20% during the period.

NeighborhoodScout's data show that during the latest twelve months, Minnetonka's appreciation rate, at 4.68%, has been at or slightly above the national average. In the latest quarter, Minnetonka's appreciation rate has been 1.44%, which annualizes to a rate of 5.89%.

Relative to Minnesota, our data show that Minnetonka's latest annual appreciation rate is higher than 50% of the other cities and towns in Minnesota.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Minnetonka differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Minnetonka - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Minnetonka real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$334,992

Minnetonka, MN HOME PRICES

Value Range
> $1,146,000 1.9
$860,001 - $1,146,000 3.3
$573,001 - $860,000 8.8
$458,001 - $573,000 10.5
$344,001 - $458,000 21.7
$229,001 - $344,000 30.2
$114,001 - $229,000 16.1
$57,001 - $114,000 5.0
$0 - $57,000 2.6

Very High for MN
Very High for Nation

Value Relative to Nation Value Relative to State
13.3188796437361 7.18685831622177

Number Of Homes And Apartments:
22,676

Minnetonka Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MN*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
43.16% 2.10% 6 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,512 / per month

Homeownership Rate

Homeownership
Owners 69.96
Renters 30.04
Vacant 4.82

Housing Market Details

 

Age of Homes

AGE OF Minnetonka HOMES
2000 or Newer 5.6
1970 - 1999 59.2
1940 - 1969 31.4
1939 or Older 3.8

Types of Homes

TYPE OF Minnetonka HOMES
Single-Family 55.9
Townhomes 10.6
Small Apt. Buildings 2.5
Apt. Complexes 30.7
Mobile Homes 0.2
Other 0.1

Home Size

SIZE OF Minnetonka HOMES
No Bedroom 0.70
1 Bedroom 14.54
2 Bedrooms 26.27
3 Bedrooms 29.25
4 Bedrooms 22.45
5 or more bedrooms 6.80