Community Profile: Minnetonka
With a name coming from the Dakota Indian mni tanka, meaning “great water”, it’s no wonder the city of Minnetonka is one of the most coveted suburbs of the Twin Cities. Just 8 miles west of Minneapolis, part of the city includes Lake Minnetonka, one of the largest and most famous lakes in Minnesota.
Planners have carefully kept Minnetonka a beautiful community for families. The city features dozens of ponds and a great deal of open space, park land and wetland areas. Besides the green space, Minnetonka has some of the most stunning homes and neighborhoods, with Lake Minnetonka providing the perfect backdrop to dazzling architecture. Legendary properties include estates once owned by the first families of Minnesota, such as the Pillsburys, the Daytons and the Bells.
Minnetonka has a thriving business community, and is the home of Cargill, the country’s largest privately owned company, and United Healthcare, the state’s largest publicly owned company. Other large businesses include Medica, St. Jude Medical and Carlson.
Minnetonka is served by three public school districts: Hopkins, Minnetonka and Wayzata, and a number of charter and private schools. U.S. News ranks Minnetonka High School #7 out of all Minnesota High Schools, and the school district as a whole is well regarded around the state as one of the top Minnesota has to offer.
Some additional statistics:
- Population: just over 51,000
- Number of Households (2013): 22,416
- Median Household Income (2012): $75,945
- Median Home Sales Price (2014): $320,000
- Median Single Family Home Value (2015): $317,800
- Median Single Family Home Property Tax (2015): $4,074
- The average household size is 2.25 persons
- 75% of the housing units in Minnetonka are owner-occupied and 25% are rental units
- The median home sales price in Minnetonka in 2014 was $320,000. In 1992, it was $140,000
- 3% of Minnetonka residents work in Minnetonka
- The median family income in 2012 was $106,506
- Over 49% of the households in Minnetonka are age 55 and older
For more information on Minnetonka, visit the city’s official website.
If you’re interested in living in Minnetonka, check our listings.