Minnetonka

Population: 53,256
Median household income: $120,496
Median home value: $456,200

Minnetonka is a community in Hennepin County, Minnesota, home to 53,256 residents. At $120,496, its median household income sits above Hennepin County's $96,339.

From 2019 to 2023, Minnetonka's population held roughly steady from 53,025 to 53,256, while its median home value rose 31.1% from $347,900 to $456,200.

4.8% of residents live below the poverty line. Households average 2.27 people.

Demographics

ACS 2019–2023

Population: 53,256
Median age: 42.8 yrs
Median household income: $120,496
Median home value: $456,200
Median gross rent: $1,758
Housing units: 24,595
Homeownership rate: 72.5%
Bachelor's degree or higher: 63.3%
Unemployment rate: 2.2%

Trends

ACS 5-year · 2019–2023

Population

53,02553,256

Median household income

$95,630$120,496

Median home value

$347,900$456,200

Median gross rent

$1,428$1,758

Year	Population	Median household income	Median home value	Median gross rent
2019	53,025	$95,630	$347,900	$1,428
2020	53,760	$100,363	$362,100	$1,467
2021	53,809	$106,023	$373,000	$1,523
2022	53,529	$114,867	$430,800	$1,673
2023	53,256	$120,496	$456,200	$1,758

Each year is a US Census Bureau ACS 5-year estimate ending that year.

Age distribution

Under 56.4%

5 to 1715.1%

18 to 244.4%

25 to 3414.1%

35 to 4412.3%

45 to 5411.8%

55 to 6413.6%

65 to 7413.3%

75 and over8.9%

	Count	Share
Under 5	3,407	6.4%
5 to 17	8,062	15.1%
18 to 24	2,326	4.4%
25 to 34	7,514	14.1%
35 to 44	6,541	12.3%
45 to 54	6,298	11.8%
55 to 64	7,269	13.6%
65 to 74	7,073	13.3%
75 and over	4,766	8.9%

Race & ethnicity

	Count	Share
White (non-Hispanic)	43,017	80.8%
Black or African American	2,042	3.8%
American Indian & Alaska Native	49	0.1%
Asian	3,575	6.7%
Native Hawaiian & Pacific Islander	0	0.0%
Some other race	200	0.4%
Two or more races	2,182	4.1%
Hispanic or Latino (any race)	2,191	4.1%

Educational attainment (age 25+)

No high school diploma2.7%

High school graduate11.5%

Some college or associate's22.6%

Bachelor's degree38.4%

Graduate or professional degree24.9%

	Count	Share
No high school diploma	1,050	2.7%
High school graduate	4,528	11.5%
Some college or associate's	8,906	22.6%
Bachelor's degree	15,139	38.4%
Graduate or professional degree	9,838	24.9%

Commute to work

Mean travel time to work: 20 min

Drove alone66.3%

Carpooled4.7%

Public transit0.9%

Walked1.3%

Bicycle0.4%

Worked from home25.8%

Other means0.6%

How workers get to work

	Count	Share
Drove alone	18,936	66.3%
Carpooled	1,348	4.7%
Public transit	251	0.9%
Walked	385	1.3%
Bicycle	119	0.4%
Worked from home	7,364	25.8%
Other means	175	0.6%

Travel time

	Count	Share
Under 15 min	6,141	28.9%
15 to 29 min	10,865	51.2%
30 to 44 min	3,267	15.4%
45 to 59 min	587	2.8%
60+ min	354	1.7%

Households

Average household size: 2.27
Poverty rate: 4.8% (2,533 of 52,978)

	Count	Share
Family households	14,141	60.6%
Nonfamily households	9,207	39.4%

Housing

Median year structure built: 1980

Occupancy

	Count	Share
Occupied	23,348	94.9%
Vacant	1,247	5.1%

Tenure (of occupied units)

	Count	Share
Owner-occupied	16,917	72.5%
Renter-occupied	6,431	27.5%

1-unit, detached54.2%

1-unit, attached10.6%

2 to 4 units2.2%

5 to 19 units1.8%

20 or more units31.3%

Mobile home & other0.0%

Units in structure

	Count	Share
1-unit, detached	13,340	54.2%
1-unit, attached	2,595	10.6%
2 to 4 units	531	2.2%
5 to 19 units	441	1.8%
20 or more units	7,688	31.3%
Mobile home & other	0	0.0%

Geography

Place GEOID: 2743252
Type (LSAD): 25
Land area: 27 sq mi
Water area: 1.03 sq mi
Center point: 44.9326, -93.4567