Minnetonka city, Minnesota Demographics & Population 2026
As of 2026, Minnetonka city, Minnesota has a total population of 53,256, the 18th largest city in Minnesota, with a median household income of $120,496, which is 38% higher than the state average. The poverty rate is 4.8%.
Key Takeaways
- Household income is 38% above the state average — one of the wealthiest communities in Minnesota.
- An exceptionally low poverty rate of 4.8% — among the lowest in Minnesota.
- 63.3% of adults hold a bachelor's degree or higher — top 10% in Minnesota.
- Near full employment with an unemployment rate of just 2.2%.
Minnetonka city Quick Facts
How Minnetonka city Compares
Median Household Income
Median Home Value
Economy & Housing
Household Income Distribution
Employment
Housing Overview
People & Demographics
Age Distribution
Race & Ethnicity
Diversity Index
A less diverse community where one racial or ethnic group represents a large majority.
State average: 40 | National average: 60
Education
Educational Attainment (Adults 25+)
Minnetonka city Rankings in Minnesota
Explore Minnesota Rankings
Other Cities in Hennepin County
| City | Population | Median Income | Poverty | Home Value |
|---|---|---|---|---|
| Minneapolis city | 426,845 | $80,269 | 16.4% | $345,600 |
| Bloomington city | 88,838 | $90,677 | 9.1% | $346,200 |
| Brooklyn Park city | 84,349 | $85,964 | 10.3% | $313,500 |
| Plymouth city | 79,526 | $133,865 | 4.1% | $474,700 |
| Maple Grove city | 70,539 | $129,481 | 3.9% | $397,400 |
| Eden Prairie city | 63,249 | $127,732 | 6.0% | $463,300 |
| Edina city | 53,125 | $129,225 | 4.4% | $624,000 |
| St. Louis Park city | 49,541 | $100,250 | 7.3% | $371,600 |
| Richfield city | 36,725 | $84,055 | 7.3% | $320,400 |
| Brooklyn Center city | 32,811 | $72,009 | 11.5% | $261,100 |
Cities Similar to Minnetonka city
These cities in the same state have comparable population and economic profiles.
| City | Population | Median Income | Home Value | Bachelor's+ | Poverty |
|---|---|---|---|---|---|
| Edina city | 53,125 | $129,225 | $624,000 | 72.2% | 4.4% |
| Apple Valley city | 55,696 | $99,277 | $354,200 | 45.9% | 5.9% |
| St. Louis Park city | 49,541 | $100,250 | $371,600 | 63.9% | 7.3% |
| Eden Prairie city | 63,249 | $127,732 | $463,300 | 64.7% | 6.0% |
| Shakopee city | 45,002 | $110,989 | $361,400 | 39.9% | 5.1% |
Population Overview
Minnetonka city is a mid-sized community located in Minnesota, within Hennepin County. The total population is 53,256. It ranks as the 18th most populous out of 913 cities and towns in Minnesota.
Age Demographics
The median age in Minnetonka city is 42.8 years. This is 11% higher than the state median of 38.6 years.
Economy, Income & Housing
The median household income in Minnetonka city is $120,496. This is 38% higher than the state median of $87,556. Compared to the national median of $78,538, household income here is 53% higher. The poverty rate stands at 4.8%. This is 48% lower than the state poverty rate of 9.2%. This exceptionally low poverty rate indicates strong economic prosperity across the community. The unemployment rate is 2.2%. This is 44% lower than the state rate of 3.9%. The median home value is $456,200. Housing costs are 49% higher than the state median of $305,500. The home-value-to-income ratio is 3.8x. 72.5% of occupied housing units are owner-occupied.
Race & Ethnicity
The largest racial or ethnic group in Minnetonka city is White (non-Hispanic), making up 80.8% of the population. Asian residents account for 6.7%.
Education
63.3% of residents aged 25 and older hold a bachelor's degree or higher. This places Minnetonka city in the top 10% of all cities in the state for educational attainment. This is 63% higher than the state rate of 38.8%. Nationally, 35.0% of adults hold at least a bachelor's degree. The high school graduation rate (or equivalent) is 97.3%. Notably, 24.9% of adults hold a graduate or professional degree, indicating a highly educated workforce.
Data Sources & Methodology
All demographic data for Minnetonka city, Minnesota is sourced from the U.S. Census Bureau's American Community Survey (ACS) 5-Year Estimates (2019-2023). The ACS collects data from approximately 3.5 million households annually, providing reliable estimates for communities of all sizes. Comparisons are made against Minnesota state averages and national averages calculated from the same dataset. Rankings reflect the city's position among all 913 Census-designated places in Minnesota. For official data, visit data.census.gov.
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Frequently Asked Questions
What is the population of Minnetonka city, Minnesota?
Minnetonka city, Minnesota has a population of 53,256 according to the most recent U.S. Census ACS 5-Year Estimates.
What is the median household income in Minnetonka city, MN?
The median household income in Minnetonka city is $120,496, which is 53% higher the national median of $78,538.
What is the poverty rate in Minnetonka city, MN?
The poverty rate in Minnetonka city is 4.8%. This means approximately 2,533 residents live below the federal poverty line.
What is the racial makeup of Minnetonka city, Minnesota?
Minnetonka city's population is 80.8% White, 3.8% Black, 4.1% Hispanic/Latino, and 6.7% Asian.
What is the median home value in Minnetonka city, MN?
The median home value in Minnetonka city is $456,200. The home-value-to-income ratio is 3.8x.
How educated is Minnetonka city, Minnesota?
63.3% of adults (25+) in Minnetonka city hold a bachelor's degree or higher, and 24.9% hold a graduate or professional degree.