Minnetonka, MN demographics:
population, income, and more

Total population
53,064
-0.4% year-over-year change
Median household income
$119,517/yr
-0.8% year-over-year change
Housing units
24,760
0.7% year-over-year change

Minnetonka population

How many people live in Minnetonka

Minnetonka is home to 53,064 residents, according to the most recent Census data. Gender-wise, 49% of Minnetonka locals are male, and 51% are female.

Total population
53,064
-0.4% year-over-year change
Gender ratio
Male
49%
25,987
Female
51%
27,077
Value Percent YoY change
Male 25,987 49% -1.1%
Female 27,077 51% 0.3%
A higher population often means more rental variety and livelier areas. The gender balance—how many men live here compared to women—can reveal a lot about the community and the lifestyles of its residents. Use this info to get a sense of the area's pace and personality.

Age demographics

The median age in Minnetonka is 43, with the population distributed as follows: about 17.9% are children under 15, then 7.8% are in the 15 to 24 age group. Adults between 25 and 44 make up 26.7% of the population, while another 24.8% fall into the 45 to 64 bracket. Finally, around 22.8% are 65 or older.

Median age
42.9
Age breakdown
Under 15
17.9%
15 to 24
7.8%
25 to 44
26.7%
45 to 64
24.8%
Over 65
22.8%
Value Percent YoY change
Under 15 9,518 17.9% -0.5%
15 to 24 4,134 7.8% -2.1%
25 to 44 14,164 26.7% 0.8%
45 to 64 13,164 24.8% -3.0%
Over 65 12,084 22.8% 2.1%
The age composition helps you get insight into who lives in the area. A younger population might mean a more active, fast-paced vibe, while an older one could suggest a quieter, slower lifestyle. If there's a balanced makeup, you’re likely to find a variety of services, housing types, and community spaces that cater to different life stages.

Racial makeup

In Minnetonka, 88.1% of the population are US-born citizens, while 7% have gained naturalized citizenship. At the same time, 4.9% of residents are non-citizens. As for race, 81.5% of locals are Caucasian, 4.2% are African American and 6% have Asian roots. There’s also a share of 6.9% that includes residents with two or more races.

Citizenship
U.S.-born citizens
88.1%
Non-U.S.-born citizens
7%
Non-citizens
4.9%
Value Percent YoY change
U.S.-born citizens 46,741 88.1% -0.9%
Non-U.S.-born citizens 3,742 7% 7.2%
Non-citizens 2,581 4.9% -0.3%
Racial breakdown
White
81.5%
Black or African American
4.2%
American Indian and Alaska Native
0.2%
Asian
6%
Native Hawaiian and other Pacific Islander
0%
Two or more races
6.9%
Other
1.2%
Value Percent
White 43,256 81.5%
Black or African American 2,224 4.2%
American Indian and Alaska Native 117 0.2%
Asian 3,175 6%
Two or more races 3,668 6.9%
Other 624 1.2%

Households in Minnetonka

A peek inside Minnetonka households

Minnetonka has 23,515 households, with an average of 2 members in each. Of these, 60.4% are families, while the remaining 39.6% are made up of individuals living alone or with non-relatives, such as roommates.

Households stats

Total households
23,515
0.7% year-over-year change
Average people per household
2
Non-family households
9,301
Family households
14,214
Value Percent YoY change
Non-family households 9,301 39.6% 1.0%
Family households 14,214 60.4% 0.5%
The mix between family and non-family households gives a glimpse into daily life. A higher percentage of families might mean more parks and schools, while more non-family setups can mean flexible housing and diverse living styles. For renters, this can signal what kinds of homes are common and can help you figure out if the area matches your lifestyle.

Housing in Minnetonka

The housing landscape of Minnetonka

Minnetonka's housing consists of 24,760 units, with 53.8% being detached single-family homes ideal for those wanting space. Attached options, including duplexes and townhouses, make up 10.5% and offer a more compact, shared living style. Then there are the multifamily buildings in the area, and for those seeking flexibility, non-traditional options like mobile homes account for 0.1% of the housing landscape.

Housing units
24,760
0.7% year-over-year change
Housing types
Value Percent
1 unit, detached 13,324 53.8%
1 unit, attached 2,591 10.5%
2 units 141 0.6%
3 or 4 units 328 1.3%
5 to 9 units 229 0.9%
10 to 19 units 356 1.4%
20 to 49 units 1,913 7.7%
50 or more units 5,864 23.7%
Mobile home 14 0.1%
Homes built since 2020
617
59.8% year-over-year change

The age of buildings in Minnetonka

In Minnetonka, the median construction year is 1981. About 2.5% of homes were built before the 1940s, with another 2.4% going up by 1949. Most development happened in the second half of the 20th century. Then, 5.8% of homes were added from 2000 to 2009, 7.4% between 2010 and 2019, and 2.5% are part of the newest wave of development.

Construction year breakdown by decade
Value Percent YoY change
Built in 1939 or earlier 616 2.5% 3.7%
Built between 1940 and 1949 593 2.4% -0.3%
Built between 1950 and 1959 4,145 16.7% -2.4%
Built between 1960 and 1969 2,890 11.7% -3.5%
Built between 1970 and 1979 3,713 15% 1.6%
Built between 1980 and 1989 5,965 24.1% 3.7%
Built between 1990 and 1999 2,963 12% -9.1%
Built between 2000 and 2009 1,439 5.8% 5.1%
Built between 2010 and 2019 1,819 7.4% 3.9%
Built in 2020 or later 617 2.5% 59.8%
As a renter, knowing when homes were built helps you understand the potential condition and design of rental units. Newer builds may have more contemporary layouts, while older homes can offer character or larger lots, depending on the area.

Minnetonka occupancy rates

Out of the 23,515 occupied housing units in Minnetonka, 71.6% are owner-occupied, while 28.4% are lived in by tenants. Meanwhile, 5% of all homes on the local market sit vacant.

Occupied housing units
23,515
0.7% year-over-year change
Occupancy breakdown
Renter occupied
6,681
Owner occupied
16,834
Value Percent YoY
change
Renter occupied 6,681 28.4% 3.9%
Owner occupied 16,834 71.6% -0.5%
Unoccupied housing units
5.0%
Unoccupied housing units refer to homes that are currently without residents—whether they're waiting for renters or owners, used seasonally, or simply unclaimed. A higher share of empty homes may mean more housing availability, while a low number can reflect a tighter market with more competition. This, along with the renter-vs.-owner mix, helps paint a clearer picture of what types of housing and services are likely to be available in the area.

Minnetonka housing costs

Housing costs in Minnetonka come to a median of $1,863 per month, while tenants specifically pay a median gross rent of $1,779.

Median housing costs per month
$1,863/month
This figure sums up typical monthly housing costs for all households in the area. If you own, it includes mortgage payments in addition to property taxes, insurance and HOA fees. If you rent, it accounts for rent plus extras like utilities. It’s useful for seeing how local living expenses stack up compared to other places.
Median gross rent in Minnetonka
$1,779/month
Gross rent gives a more complete look at what renters actually pay, including not just base rent, but also utilities and fees. It’s a key number for evaluating rental affordability in your area of interest and understanding how it compares to nearby locations.

Education in Minnetonka

Minnetonka education at a glance

About 13.3% of the population in Minnetonka went to high school, while 15.6% pursued college studies. Another 7.5% earned an associate degree and 39% hold a bachelor’s. Meanwhile, 23.8% went even further, earning a master’s or doctorate.

Education level
Value Percent YoY change
No high school 308 0.7% -43.7%
High school diploma 5,561 13.3% -6.5%
College diploma 6,517 15.6% -2.1%
Associate degree 3,125 7.5% 1.5%
Bachelor's degree 16,278 39% 3.7%
Graduate degree 9,947 23.8% 0.8%
A community’s education mix can offer insights into the local economy and housing market. Higher levels of education often align with more job opportunities and stable incomes, which can increase demand for homes and influence both rent prices and rental availability.

Income in Minnetonka

How much people earn in Minnetonka

The average annual household income in Minnetonka was $167,587 in 2024, the most recent annual data available, according to the U.S. Census Bureau. This marked a +1.6% change from the previous year. At the same time, the median income stood at $119,517, reflecting a -0.8% shift over the same period.

Average household income in Minnetonka
$167,587/year
1.6% year-over-year change
Median household income in Minnetonka
$119,517/year
-0.8% year-over-year change

Minnetonka income by age

In Minnetonka, households led by residents aged 25 to 44 — usually in the early to mid stages of their careers — have a median income of $148,953. Those with someone between 45 and 64 in charge, often well established professionally, earn $146,470 overall. Younger households, where the main provider is under 25 and just starting out, report a median income of $64,375, while those led by someone over 65, many of whom may be retired, have about $81,228 in earnings. Overall, 94.1% of the locals in this community live above the poverty line.

Income breakdown by age
Value YoY change
Under 25 $64,375 -2.6%
25 - 44 $148,953 0.3%
45 - 64 $146,470 1.3%
Over 65 $81,228 -7.7%
Above poverty level
49,224
Below poverty level
3,080
Value Percent YoY
change
Above poverty level 49,224 94.1% -1.2%
Below poverty level 3,080 5.9% 23.8%

Average renter income in Minnetonka

To get a better sense of what renters earn on average in Minnetonka, their median household income was $73,908 according to 2022 Census data. In addition, the rent-to-income ratio in the area, at 28.9%, shows what portion of their earnings goes toward housing expenses.

Renter median household income
$73,908
Rent-to-income ratio
28.9%
Understanding the rent-to-income ratio can help renters gauge if local housing costs align with their earnings. A ratio under 30% usually signals affordability, while exceeding this mark means rent is taking a larger-than-recommended bite out of income. That could make it harder for you to cover other costs like transportation, healthcare, or child care.

Employment in Minnetonka

Workforce and job types in Minnetonka

The job market in Minnetonka is powered by 28,664 working residents, spread across a range of industries and roles. 90.6% of the working population are employed in professional or administrative positions, while 9.4% are in hands-on or service-based jobs. Also, 11.5% run their own businesses, 68.9% are employed by private companies, and 10.1% work in the public sector.

Workforce demographics

Working population
28,664
-1.0% year-over-year change
White collar
25,956
Blue collar
2,708
Value Percent YoY change
White collar 25,956 90.6% -0.1%
Blue collar 2,708 9.4% -8.6%
Employer type
Self employees
11.5%
Private companies
68.9%
Governmental workers
10.1%
Not for profit companies
9.5%
Value Percent YoY change
Self employees 3,291 11.5% -3.5%
Private companies 19,754 68.9% -2.0%
Governmental workers 2,906 10.1% 5.3%
Not for profit companies 2,713 9.5% 3.6%
Unemployment rate
3.0%
34.4% year-over-year change

Available workforce

The unemployment rate in Minnetonka stands at 3%, representing the share of the workforce currently without a job and actively looking for one.

For renters, the unemployment rate helps paint a picture of job security and financial stability in the area. Rates around 4% to 5% are considered typical. A lower-than-average rate might suggest strong job prospects and a thriving local economy, while a higher rate could hint at fewer opportunities—both useful to consider when planning a move.

Transportation in Minnetonka

How people get around in Minnetonka

In Minnetonka, the average commute time is 19 minutes. Commuting methods vary: 69.3% of residents travel by personal vehicle and 1.2% prefer to walk, while the remaining share relies on public transit or on two wheelers to get from A to B.

Commute time
19 min
-4.0% year-over-year change
Means of transportation
Value Percent YoY change
Car 19,617 69.3% -3.3%
Taxicab 19 0.1% -26.9%
Bus or trolleybus 136 0.5% -45.8%
Bicycle 150 0.5% 26.1%
Walk 342 1.2% -11.2%
Understanding how locals get to work can help you plan your own routine. High car usage might mean you’ll need a vehicle, while strong public transit or walkability could save you the hassle. Commute times also play a big role in quality of life—shorter trips can give you more time for the things you enjoy.

What is the median and average household income in Minnetonka by zipcode?

Zipcode Population Number of households Median income Average income
55305 21,068 9,927 $104,914 $144,880
55343 27,102 13,657 $83,143 $105,824
55345 20,789 8,313 $145,332 $190,335
55391 15,502 6,517 $174,301 $286,470

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FAQs about Minnetonka demographics 

What is the total population of Minnetonka?

Minnetonka has a total population of 53,064 residents, according to the latest release from the U.S. Census Bureau: the 2019-2023 American Community Survey (ACS) 5-year estimates. This figure changed by -0.4% compared to a year ago.

What is the gender ratio in Minnetonka?

The gender ratio in Minnetonka is as follows:
  • 49% males (25,987 residents)
  • 51% females (27,077 residents)

What is the median age in Minnetonka?

The median age in Minnetonka is 42.9.

What is the age distribution of the population in Minnetonka?

The age distribution in Minnetonka is as follows:
  • Under 15: 17.9% (9,518 residents)
  • Ages 15-24: 7.8% (4,134 residents)
  • Ages 25-44: 26.7% (14,164 residents)
  • Ages 45-64: 24.8% (13,164 residents)
  • Over 65: 22.8% (12,084 residents)

What is the racial and ethnic makeup of Minnetonka?

The racial and ethnic makeup of Minnetonka is as follows:
  • White: 81.5% (43,256 residents)
  • Black or African American: 4.2% (2,224 residents)
  • American Indian and Alaska Native: 0.2% (117 residents)
  • Asian: 6% (3,175 residents)
  • Native Hawaiian and Other Pacific Islander: 0% (0 residents)
  • Two or More Races: 6.9% (3,668 residents)
  • Other: 1.2% (624 residents)

What percentage of the population in Minnetonka are U.S.-born citizens?

U.S.-born citizens represent 88.1% of the population in Minnetonka.

How many housing units are there in Minnetonka?

There are 24,760 housing units in Minnetonka, reflecting a +0.7% change compared to the previous year, according to the latest data from the U.S. Census Bureau.

How many households are in Minnetonka and what is the average household size?

Minnetonka has a total of 23,515 households, with an average of 2 people in each.

What is the median household income in Minnetonka?

Minnetonka has a median household income of $119,517, representing a -0.8% shift from the previous year, according to the U.S. Census Bureau.

What is the employment rate and job market overview for Minnetonka?

The employment rate is 97% in Minnetonka, with a workforce of 28,664 residents. Here’s a detailed breakdown of the local job market:

Job types:
  • White-collar workers: 90.6% (25,956 residents)
  • Blue-collar workers: 9.4% (2,708 residents)

Places of employment:
  • Self-employed: 11.5% (3,291 residents)
  • Private companies: 68.9% (19,754 residents)
  • Governmental workers: 10.1% (2,906 residents)
  • Not-for-profit companies: 9.5% (2,713 residents)

Data source & methodology

The demographic data on this page was sourced from the latest U.S. Census Bureau release—the 2019–2023 American Community Survey (ACS) 5-year estimates.

The information, issued annually, is compiled and published by the Point2Homes Research Team as soon as new data becomes available.

No representation, guarantee, or warranty is made concerning the accuracy or completeness of modified or aggregated information for particular areas.

Page last updated: September 2025