Minnetonka, Minnesota Demographics & Population 2026
During the 2020–2024 ACS period, Minnetonka, Minnesota had a total population of 53,064, the 19th largest city in Minnesota, with a median household income of $119,517, which is 34% higher than the state average. The poverty rate is 5.9%.
Data vintage: U.S. Census Bureau ACS 2020–2024 5-Year Estimates · refreshed July 2026 · Methodology & source notes
Key Takeaways
- Household income is 34% above the state average — one of the wealthiest communities in Minnesota.
- 65.0% of adults hold a bachelor's degree or higher — top 10% in Minnesota.
Minnetonka Quick Facts
How Minnetonka Changed
Change from the 2019–2023 ACS period to 2020–2024. These are rolling five-year estimates, not year-over-year measurements.
| Metric | 2019–2023 | 2020–2024 | Change |
|---|---|---|---|
| Population | 53,256 | 53,064 | -0.4% |
| Median household income | $120,496 | $119,517 | -0.8% |
| Median home value | $456,200 | $475,800 | +4.3% |
How Minnetonka Compares
Median Household Income
Median Home Value
Economy & Housing
Household Income Distribution
Detailed income brackets
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: 41 | National average: 61
Education
Educational Attainment (Adults 25+)
Minnetonka Rankings in Minnesota
Explore Minnesota Rankings
Other Cities in Hennepin County
| City | Population | Median Income | Poverty | Home Value |
|---|---|---|---|---|
| Minneapolis | 427,246 | $80,846 | 16.0% | $362,200 |
| Bloomington | 88,665 | $93,211 | 9.2% | $361,700 |
| Brooklyn Park | 83,876 | $89,891 | 9.5% | $336,200 |
| Plymouth | 79,220 | $136,534 | 4.3% | $491,200 |
| Maple Grove | 71,173 | $132,731 | 4.0% | $418,300 |
| Eden Prairie | 63,051 | $130,489 | 4.6% | $473,900 |
| Edina | 53,262 | $128,767 | 4.7% | $646,300 |
| St. Louis Park | 49,594 | $101,648 | 6.9% | $386,800 |
| Richfield | 36,642 | $85,132 | 8.2% | $344,000 |
| Brooklyn Center | 32,479 | $72,535 | 12.3% | $274,300 |
Cities Similar to Minnetonka
These cities in the same state have comparable population and economic profiles.
| City | Population | Median Income | Home Value | Bachelor's+ | Poverty |
|---|---|---|---|---|---|
| Edina | 53,262 | $128,767 | $646,300 | 72.7% | 4.7% |
| St. Louis Park | 49,594 | $101,648 | $386,800 | 64.2% | 6.9% |
| Apple Valley | 55,679 | $97,673 | $370,400 | 45.9% | 6.0% |
| Shakopee | 46,012 | $107,223 | $374,800 | 40.4% | 5.9% |
| Eden Prairie | 63,051 | $130,489 | $473,900 | 64.9% | 4.6% |
Population Overview
Minnetonka is a mid-sized community located in Minnesota, within Hennepin County. The total population is 53,064. It ranks as the 19th most populous out of 914 Census-designated places in Minnesota.
Age Demographics
The median age in Minnetonka is 42.9 years. This is 11% higher than the state median of 38.8 years.
Economy, Income & Housing
The median household income in Minnetonka is $119,517. This is 34% higher than the state median of $89,062. It is also 48% higher than the national median of $80,734. The poverty rate stands at 5.9%. This is 36% lower than the state poverty rate of 9.3%. The unemployment rate is 3.0%. This is 26% lower than the state rate of 4.1%. The median home value is $475,800. Housing costs are 44% higher than the state median of $329,300. The home-value-to-income ratio is 4.0x. 71.6% of occupied housing units are owner-occupied.
Race & Ethnicity
The largest racial or ethnic group in Minnetonka is White (non-Hispanic), making up 80.9% of the population. Asian residents account for 6.0%.
Education
65.0% of residents aged 25 and older hold a bachelor's degree or higher. This places Minnetonka in the top 10% of all cities in the state for educational attainment. This is 65% higher than the state rate of 39.4%. Nationally, 35.7% of adults hold at least a bachelor's degree. The high school graduation rate (or equivalent) is 98.3%. Notably, 25.2% of adults hold a graduate or professional degree, indicating a highly educated workforce.
Data Sources & Methodology
All demographic data for Minnetonka, Minnesota is sourced from the U.S. Census Bureau's American Community Survey (ACS) 2020–2024 5-Year Estimates. The ACS collects data from approximately 3.5 million households annually and pools five years of responses so that even small communities can be measured, though the margin of error widens as the population falls. Comparisons are made against Minnesota state averages and national averages calculated from the same dataset. Rankings reflect the city's position among all 914 Census-designated places in Minnesota. Read more about how these figures are produced on our methodology page, or visit data.census.gov for official data.
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Frequently Asked Questions
What is the population of Minnetonka, Minnesota?
Minnetonka, Minnesota has a population of 53,064 according to the most recent U.S. Census ACS 5-Year Estimates.
What is the median household income in Minnetonka, MN?
The median household income in Minnetonka is $119,517, which is 48% higher than the national median of $80,734.
What is the poverty rate in Minnetonka, MN?
The poverty rate in Minnetonka is 5.9%. This means approximately 3,133 residents live below the federal poverty line.
What is the racial makeup of Minnetonka, Minnesota?
Minnetonka's population is 80.9% White, 4.2% Black, 4.1% Hispanic/Latino, and 6.0% Asian.
What is the median home value in Minnetonka, MN?
The median home value in Minnetonka is $475,800. The home-value-to-income ratio is 4.0x.
How educated is Minnetonka, Minnesota?
65.0% of adults (25+) in Minnetonka hold a bachelor's degree or higher, and 25.2% hold a graduate or professional degree.