Cities with the most expensive homes in Minneapolis metro area

Written by:
August 15, 2022
ungvar // Shutterstock

Cities with the most expensive homes in Minneapolis metro area

Purchasing a home is one of the most important investments there is. More than a place to live, homeownership is an asset with the potential to tremendously rise in value. Given the current state of the real estate market, housing affordability plays a determining role for buyers. As of August 11, 2022, the 30-year fixed mortgage rate sits at 5.42%. As a result of higher mortgage rates across the board, home prices have risen significantly. The typical home value in the United States increased over the last year by +19.8% to $354,165.

Although home prices have inflated all across the U.S., there are definitely certain areas that have a higher price tag than others. Location, size, age, and condition are all contributing factors to home value. Whether you choose to hold off your home-buying plans in hopes of the market cooling down or are looking to buy ASAP, it's good to educate yourself on the market in different cities.

Stacker compiled a list of cities with the most expensive homes in Minneapolis using data from Zillow. Cities are ranked by the Zillow Home Values Index for all homes as of July 2022. The ZVHI represents a seasonally adjusted price for the middle market for all homes. Data was available for 212 cities and towns in Minneapolis. Charts for each city show the monthly typical home value since January 2018.

You may also like: Cities with the fastest growing home prices in Minneapolis metro area

1 / 30
Stacker

#30. Chanhassen, MN

- Typical home value: $518,314
- 1-year price change: +10.2%
- 5-year price change: +39.7%

2 / 30
Stacker

#29. Houlton, WI

- Typical home value: $536,628
- 1-year price change: +14.7%
- 5-year price change: +57.4%

3 / 30
Stacker

#28. Victoria, MN

- Typical home value: $543,903
- 1-year price change: +10.7%
- 5-year price change: +39.0%

4 / 30
Stacker

#27. Scandia, MN

- Typical home value: $544,670
- 1-year price change: +13.7%
- 5-year price change: +51.6%

5 / 30
Stacker

#26. Mendota Heights, MN

- Typical home value: $548,040
- 1-year price change: +8.2%
- 5-year price change: +40.2%

You may also like: Highest-rated seafood restaurants in Minneapolis, according to Tripadvisor

6 / 30
Stacker

#25. Gem Lake, MN

- Typical home value: $559,256
- 1-year price change: +10.1%
- 5-year price change: +42.0%

7 / 30
Stacker

#24. Corcoran, MN

- Typical home value: $562,343
- 1-year price change: +11.2%
- 5-year price change: +37.5%

8 / 30
Stacker

#23. Pine Springs, MN

- Typical home value: $610,806
- 1-year price change: +11.9%
- 5-year price change: +43.1%

9 / 30
Stacker

#22. Edina, MN

- Typical home value: $620,655
- 1-year price change: +7.8%
- 5-year price change: +30.4%

10 / 30
Stacker

#21. Greenfield, MN

- Typical home value: $628,553
- 1-year price change: +14.4%
- 5-year price change: +43.0%

You may also like: Closest national parks to Minneapolis

11 / 30
Stacker

#20. Marine on Saint Croix, MN

- Typical home value: $634,153
- 1-year price change: +13.2%
- 5-year price change: +51.6%

12 / 30
Stacker

#19. Lake Elmo, MN

- Typical home value: $636,183
- 1-year price change: +12.6%
- 5-year price change: +40.4%

13 / 30
Stacker

#18. Minnetrista, MN

- Typical home value: $678,883
- 1-year price change: +12.1%
- 5-year price change: +37.5%

14 / 30
Stacker

#17. Shorewood, MN

- Typical home value: $699,633
- 1-year price change: +10.3%
- 5-year price change: +36.3%

15 / 30
Stacker

#16. Grant, MN

- Typical home value: $732,563
- 1-year price change: +10.6%
- 5-year price change: +48.0%

You may also like: Metros sending the most people to Minneapolis

16 / 30
Stacker

#15. Independence, MN

- Typical home value: $734,421
- 1-year price change: +15.1%
- 5-year price change: +41.1%

17 / 30
Stacker

#14. Afton, MN

- Typical home value: $748,982
- 1-year price change: +12.4%
- 5-year price change: +55.9%

18 / 30
Stacker

#13. Excelsior, MN

- Typical home value: $798,967
- 1-year price change: +12.0%
- 5-year price change: +54.4%

19 / 30
Stacker

#12. Wayzata, MN

- Typical home value: $811,534
- 1-year price change: +9.7%
- 5-year price change: +37.9%

20 / 30
Stacker

#11. Medina, MN

- Typical home value: $812,851
- 1-year price change: +11.3%
- 5-year price change: +31.9%

You may also like: Dogs available for adoption in Minneapolis

21 / 30
Stacker

#10. North Oaks, MN

- Typical home value: $865,864
- 1-year price change: +5.5%
- 5-year price change: +24.3%

22 / 30
Stacker

#9. Dellwood, MN

- Typical home value: $910,874
- 1-year price change: +23.0%
- 5-year price change: +41.9%

23 / 30
Stacker

#8. Deephaven, MN

- Typical home value: $927,281
- 1-year price change: +12.4%
- 5-year price change: +36.4%

24 / 30
Stacker

#7. Tonka Bay, MN

- Typical home value: $994,466
- 1-year price change: +11.6%
- 5-year price change: +37.6%

25 / 30
Stacker

#6. Orono, MN

- Typical home value: $1,048,745
- 1-year price change: +12.3%
- 5-year price change: +40.7%

You may also like: Highest and lowest paying education jobs in Minneapolis

26 / 30
Stacker

#5. Medicine Lake, MN

- Typical home value: $1,049,457
- 1-year price change: +8.6%
- 5-year price change: +28.6%

27 / 30
Stacker

#4. Sunfish Lake, MN

- Typical home value: $1,141,515
- 1-year price change: +4.7%
- 5-year price change: +31.2%

28 / 30
Stacker

#3. Woodland, MN

- Typical home value: $1,349,146
- 1-year price change: +8.9%
- 5-year price change: +24.2%

29 / 30
Stacker

#2. Greenwood, MN

- Typical home value: $1,390,867
- 1-year price change: +7.8%
- 5-year price change: +36.9%

30 / 30
Stacker

#1. Minnetonka Beach, MN

- Typical home value: $1,791,213
- 1-year price change: +7.2%
- 5-year price change: +38.4%

You may also like: How Minneapolis feels about climate change

Trending Now