Minnetonka, MN Local Data & Statistics

State: MN

Total population: 53,064 Household income: $119,517 Rent: $1,779

Overview

Total population

53,064

Rent

$1,779

Year built

1981

Household income

$119,517

Per capita income

$75,502

Poverty rate

5.9%

Unemployment rate

2.2%

Household size

2.2 persons

Rent over 30% of income

44.6%

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

Data are sourced from the American Community Survey (ACS) 5-Year Estimates, 2024 release — the latest dataset currently available, with the exception of the unemployment rate, which is sourced from the Bureau of Labor Statistics (BLS). ACS 5-year estimates are published annually, about 6–12 months after the end of each reference year.

Demographics

State

Minnesota

Total population

53,064

Adults over 25

39,412

Total households

23,515

Household size

2.2 persons

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

Income & Poverty

Household income

$119,517

Per capita income

$75,502

Poverty rate

5.9%

Unemployment rate

2.2%

Rent over 30% of income

44.6%

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

Housing

Rent

$1,779

Year built

1981

Households that rent

28.4%

Households that own

71.6%

Rooms per home (all homes)

6.5

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

Race

White

81.5%

Black

4.2%

Asian

Two or more races

6.9%

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

Ethnicity

Hispanic or Latino

4.1%

Not Hispanic or Latino

95.9%

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

Commute

Commute rate

72.6%

Commute time to work

19 mins

Work from home

27.4%

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

Education

Less than high school

16.5%

High school graduate or GED

11%

Some college or associate degree

7.5%

Bachelor’s degree or higher

65%

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

Comparison of Minnetonka, MN with: Minnesota United States

Minnetonka, MN

Total population53,064

Rent$1,779

Year built1981

Household income$119,517

Per capita income$75,502

Poverty rate5.9%

Unemployment rate2.2%

Minnesota State

Total population5,739,445

Rent$1,280

Year built1979

Household income$89,062

Per capita income$48,237

Poverty rate9.3%

Unemployment rate3%

United States

Total population334,922,499

Rent$1,413

Year built1980

Household income$80,734

Per capita income$44,673

Poverty rate12.5%

Unemployment rate4%

Metric	CityMinnetonka, MN	StateMinnesota	CountryUnited States
Total population	53,064	5,739,445	334,922,499
Rent	$1,779	$1,280	$1,413
Year built	1981	1979	1980
Household income	$119,517	$89,062	$80,734
Per capita income	$75,502	$48,237	$44,673
Poverty rate	5.9%	9.3%	12.5%
Unemployment rate	2.2%	3%	4%

View the complete comparison of Minnetonka, MN, Minnesota and United States →

Summary for Minnetonka, MN

Minnetonka is located in Minnesota.

Rent & Income

In Minnetonka, the typical monthly rent is $1,779 and the typical household income is $119,517. Rent here is higher than in both Minnesota and the U.S., and household income is also higher than in both. The estimated poverty rate is 5.9%, which is lower than in both Minnesota and national.

Housing & Affordability

This area is primarily owner-occupied, with renters accounting for about 28.4% of households. About 44.6% of renters spend more than 30% of their income on housing, indicating high cost burden.

Education & Employment

Educational attainment is very high, with about 65% of adults holding a bachelor’s degree or higher. The local unemployment rate is 2.2%, which is lower than both Minnesota and the national rate.

Minnetonka, MN — Rent vs Household Income

Minnetonka, MN — Poverty vs Unemployment

How Minnetonka, MN compares in Minnesota (19 places)

Metric	This place	Rank	Starts from	Statewide range
Rent	$1,779	14 / 19	from lower rent	$1,003 – $1,908
Household income	$119,517	7 / 19	from higher income	$61,374 – $139,041
Poverty rate	5.9%	7 / 19	from lower poverty	2.9% – 20.2%
Unemployment rate	2.2%	10 / 19	from lower unemployment	1.8% – 3.1%

Rankings are calculated among cities and communities in Minnesota with total population > 50,000 (year 2024).

Detailed Ranking Explanation for Minnetonka, MN

Rent

When it comes to rent costs, Minnetonka places 14th among 19 large places in Minnesota. Across the state, rents run from $1,003 in St. Cloud, MN up to $1,908 in Woodbury, MN.

Household income

Minnetonka ranks 7th among 19 large places for typical household income. Statewide values run from $61,374 in St. Cloud, MN to $139,041 in Lakeville, MN.

Poverty rate

Minnetonka places 7th out of 19 large communities for poverty. Statewide figures move from 2.9% in Lakeville, MN up to 20.2% in St. Cloud, MN.

Unemployment rate

Unemployment levels put Minnetonka in 10th place among 19 large places. Statewide unemployment spans from 1.8% in Woodbury, MN to 3.1% in St. Cloud, MN.

💰 Rent in Minnetonka, MN (with Utilities)

Estimated Monthly Rent: $1,779 ℹ️ What’s Included:
✅ Base rent, electricity, gas, water/sewer, and heating fuels
❌ Not included: internet, cable TV, renter's insurance, parking

💡 What does this rent estimate mean?

Explanation: This estimate shows what renters typically pay each month for housing, including the apartment or home and essential utilities such as heat, water, and electricity. Even when utilities are billed separately, an estimated average cost for utilities is included, in line with the U.S. Census Bureau’s (ACS) definition of gross rent.

Included in this number: Rent plus electricity, gas, water/sewer, and heating fuel.

Not included: Internet, cable, parking, renter’s insurance, or furniture rental.

Note: This cost does not depend on the number of people living in the home.

👨‍👧‍👦 Household Income in Minnetonka, MN

Annual Household Income: $119,517

💡 What does Household Income mean?

Definition: This represents the middle value of all household incomes in this area — half of households earn less, and half earn more.

Includes: wages, salaries, self-employment income, Social Security, pensions, investments, unemployment, public assistance, and rental income.

Does NOT include: capital gains, non-cash benefits (like food stamps), or tax refunds.

Household = any group of people (or a single person) living in the same housing unit.

Example: A couple earning $40,000 and $30,000 together have a household income of $70,000. If that's in the middle of all local incomes, it's the value shown here.

📉 Poverty Rate in Minnetonka, MN

Estimated Rate: 5.9%

💡 What does the Poverty Rate represent?

Definition: The percentage of people in this area living below the federal poverty threshold.

How it works: The threshold is a dollar amount set by the U.S. Census Bureau that varies by family size and age. If a household's income is below that level, everyone in it is included in this rate.

Example: In a town of 10,000 people, if 1,500 have incomes below the poverty line, the poverty rate is 15%.

Note: This statistic only includes people living in households; it does not count those in student housing, military barracks, or nursing homes.

🏘️ Renter vs. Owner Households in Minnetonka, MN

In Minnetonka, MN, households that rent: 6,681 (28.4%)

📊 What does the renter household percentage reveal about this area?

Household Type	Count	Share
Renter-Occupied	6,681	28.4%
Owner-Occupied	16,834	71.6%

Definition: This is the percentage of households that rent their home rather than own it. It includes only occupied housing units.

Why it matters: Areas with a high share of renter households often have younger populations, higher mobility, and different housing needs compared to mostly owner-occupied areas.

Example: If 65% of homes in an area are renter-occupied, it means 65 out of every 100 households rent their home.

📉 Renters Spending Over 30% of Income on Rent in Minnetonka, MN

In Minnetonka, MN, cost-burdened renters (households spending over 30% of income on housing): 2,981 (44.6%)

🏚️ What Does It Mean When Renters Spend Over 30% of Their Income on Housing?

Household Group	Households	Share
Cost-burdened renters (over 30%)	2,981	44.6%
Other renter households	3,700	55.4%
Total renter households	6,681	100%

Shares are calculated as a percentage of renter households.

This shows how many renters in this area are considered cost-burdened — meaning they spend more than 30% of their income on housing (rent and basic utilities).

It’s a sign that housing might be unaffordable in the area or that lower-income residents may be struggling with rent.

Data comes from the U.S. Census Bureau’s American Community Survey.

📊 Education Levels in Minnetonka, MN

Less than High School: 6,484 people (16.5%)

Includes adults who did not complete high school.

High School Graduate or GED: 4,346 people (11%)

Includes adults whose highest education is a high school diploma or GED.

Some College or Associate Degree: 2,960 people (7.5%)

Includes adults who attended college without completing a bachelor’s degree (some college or associate degree).

Bachelor’s Degree or Higher: 25,622 people (65%)

Includes adults with a bachelor’s degree or higher (bachelor’s, master’s, professional, or doctoral degree).

👥 Total Adults (25+): 39,412

📊 Unemployment Rate in Minnetonka, MN

Estimated Rate: 2.2%

💡 What does Unemployment Rate mean?

Definition: The unemployment rate is the percentage of people in the labor force who do not have a job but are actively looking for one.

Labor Force = Employed + Unemployed (aged 16+ and actively participating in the workforce).

Formula: (Unemployed ÷ Labor Force) × 100

Does NOT include: People who are retired, students not looking for work, homemakers, or otherwise not seeking employment.

Example: If there are 1000 people in the labor force and 80 are unemployed, then the unemployment rate is 8%.

Similar Population

Methuen Town, MA53,043 Edina, MN53,125 Twin Falls, ID53,219 Normal, IL52,908 Winter Haven, FL52,846 Elyria, OH52,833 Oak Park, IL53,315 Galveston, TX53,348 Grand Island, NE52,761 Pinellas Park, FL53,423

ℹ️ Have questions about how these statistics are calculated? See our data methodology & FAQs

Source: ACS 5-Year Estimates (U.S. Census Bureau) — unemployment rate from BLS. Some values are derived metrics.