Cities with the most expensive homes in the Minneapolis metro area

Written by:
October 22, 2024
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Cities with the most expensive homes in the 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. But with home prices reaching record heights, affordability plays a huge role for buyers.

The typical home value in the United States was $360,385 in October, 2.4% higher than the year before.

High mortgage rates are also making monthly payments more expensive; as of November 14, the 30-year fixed mortgage rate sits at 6.78%.

Although home prices have inflated all across the U.S., there are some cities that command a higher price tag than others. Location, size, age, and condition are all contributing factors to home value.

Stacker compiled a list of cities with the most expensive homes in the Minneapolis metro area using data from Zillow. Charts show the monthly typical home value since January 2018. Data was available for 206 cities and towns.

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#30. Scandia, MN

- Typical home value: $511,191
- 1-year price change: +3.2%
- 5-year price change: +42.4%

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#29. Chanhassen, MN

- Typical home value: $527,373
- 1-year price change: +1.3%
- 5-year price change: +30.7%

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#28. Houlton, WI

- Typical home value: $530,354
- 1-year price change: +4.2%
- 5-year price change: +52.0%

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#27. Mendota Heights, MN

- Typical home value: $530,943
- 1-year price change: +1.2%
- 5-year price change: +29.7%

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#26. Greenfield, MN

- Typical home value: $535,882
- 1-year price change: +1.7%
- 5-year price change: +38.2%

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#25. Spring Park, MN

- Typical home value: $543,116
- 1-year price change: +4.2%
- 5-year price change: +26.6%

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#24. Gem Lake, MN

- Typical home value: $551,343
- 1-year price change: +0.7%
- 5-year price change: +36.3%

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#23. Victoria, MN

- Typical home value: $579,278
- 1-year price change: +1.5%
- 5-year price change: +31.8%

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#22. Corcoran, MN

- Typical home value: $581,439
- 1-year price change: +1.1%
- 5-year price change: +33.6%

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#21. Edina, MN

- Typical home value: $584,455
- 1-year price change: +1.7%
- 5-year price change: +27.1%

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#20. Pine Springs, MN

- Typical home value: $589,829
- 1-year price change: +1.3%
- 5-year price change: +35.9%

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#19. Marine on Saint Croix, MN

- Typical home value: $596,415
- 1-year price change: +3.8%
- 5-year price change: +43.7%

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#18. Lake Elmo, MN

- Typical home value: $623,582
- 1-year price change: -0.4%
- 5-year price change: +31.1%

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#17. Minnetrista, MN

- Typical home value: $640,794
- 1-year price change: -0.0%
- 5-year price change: +35.4%

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#16. Afton, MN

- Typical home value: $679,644
- 1-year price change: +0.2%
- 5-year price change: +38.1%

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#15. Grant, MN

- Typical home value: $693,519
- 1-year price change: +1.6%
- 5-year price change: +37.7%

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#14. Independence, MN

- Typical home value: $723,069
- 1-year price change: +1.4%
- 5-year price change: +44.7%

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#13. Shorewood, MN

- Typical home value: $747,514
- 1-year price change: +1.9%
- 5-year price change: +36.6%

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#12. Medina, MN

- Typical home value: $780,490
- 1-year price change: +0.5%
- 5-year price change: +35.6%

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#11. Excelsior, MN

- Typical home value: $794,172
- 1-year price change: +3.3%
- 5-year price change: +35.1%

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#10. Wayzata, MN

- Typical home value: $845,610
- 1-year price change: +2.4%
- 5-year price change: +37.2%

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#9. Dellwood, MN

- Typical home value: $905,218
- 1-year price change: +1.2%
- 5-year price change: +43.9%

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#8. North Oaks, MN

- Typical home value: $910,725
- 1-year price change: +3.0%
- 5-year price change: +41.7%

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#7. Deephaven, MN

- Typical home value: $976,390
- 1-year price change: +3.2%
- 5-year price change: +51.9%

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#6. Tonka Bay, MN

- Typical home value: $1,055,296
- 1-year price change: +3.6%
- 5-year price change: +49.9%

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#5. Orono, MN

- Typical home value: $1,066,568
- 1-year price change: +4.0%
- 5-year price change: +49.1%

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#4. Sunfish Lake, MN

- Typical home value: $1,170,036
- 1-year price change: -0.5%
- 5-year price change: +27.2%

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#3. Greenwood, MN

- Typical home value: $1,565,389
- 1-year price change: +2.5%
- 5-year price change: +47.9%

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#2. Woodland, MN

- Typical home value: $1,727,682
- 1-year price change: +2.9%
- 5-year price change: +51.0%

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#1. Minnetonka Beach, MN

- Typical home value: $2,067,736
- 1-year price change: +5.2%
- 5-year price change: +58.0%

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