Housing costs in Minnetonka?
A typical home costs
$399,700, which is 18.2% more expensive than the national average of
$338,100 and 29.1% more expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Minnetonka costs
$1,870 per month, which is 50.8% more than the national average of
$1,240 and 25.1% more than the state average of
$1,400.
Can I afford Minnetonka?
To live comfortably in Minnetonka (zip 55305), Minnesota, a minimum annual income of
$76,680 for a family, and
$60,800 for a single person is recommended.
What does A.I. say about Minnetonka?
The cost of living in 55305 Minnetonka, MN is relatively high, but still manageable for most families. This suburban Minneapolis area has an overall cost of living index that is close to the national average, though it leans slightly higher when compared to other cities in the United States. Housing costs are especially high in this area because of its proximity to major urban centers and desirable neighborhoods which can drive up prices. Transportation costs are also significantly higher due to long distance commutes and limited public transportation options within the city limits. Despite these drawbacks, Minnetonka still remains a relatively affordable place to live when compared with many other cities in the country.