The story of this market
The typical home in ZIP 55345 sells for about $530,000, or $244 per square foot.
Prices are up +2.1% from a year ago, so sellers still have some momentum. Homes take about 45 days to sell. HUD's fair market rent for a two-bedroom is $1,446 a month.
ZIP 55345 — Minnetonka
The 55345 housing market remains stable with high demand for single-family homes, evidenced by a median price of $530,000. Low inventory levels continue to support price growth, though rising days on market suggest a slight cooling from peak competition. Buyers remain active, particularly in the premium segment, despite broader economic headwinds.
This ZIP is ideal for families and professionals seeking high-quality schools, lake-oriented recreation, and a suburban lifestyle with convenient access to the Minneapolis employment core.
Median prices moved up 2.1% year over year.
Homes spend a median of 45 days on market with 3.2 months of supply — a fast-moving market.
15% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 2.5% · poverty 4.4% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 4.9%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 4.3%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 55345, Hennepin County MN
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
Minnetonka generally reports lower crime rates compared to the broader Twin Cities metropolitan area, with property crime being the primary concern.
The area is served by highly-rated public school districts, including Minnetonka Public Schools, which are frequently recognized for academic excellence.
The region faces standard Midwestern climate risks, including severe thunderstorms and winter weather; flood risk is localized to specific low-lying areas near Minnetonka's numerous lakes.
The area maintains a stable economic base with proximity to major corporate headquarters in the western Twin Cities suburbs and ongoing redevelopment of commercial corridors.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Minnesota) — Condominium Unit Taxation: Each unit constitutes a separate parcel for tax purposes. If a declaration is recorded at least 30 days before a tax installment is due, the taxing authority must split the taxes among the units. State (Minnesota) — Minnesota General Property Tax Classification System: Property tax is calculated by applying a class rate to the parcel's estimated market value to determine tax capacity, then multiplying by the local tax rate. For residential homesteads (Class 1a), the rate is 1.00% for the first $500,000 of market value and 1.
Residents typically commute via I-494 and I-394 toward downtown Minneapolis, with average commute times reflecting typical suburban traffic patterns.
The ZIP features extensive access to Lake Minnetonka, numerous community parks, regional trails, and proximity to major shopping centers like Ridgedale Center.
The rental market is characterized by a mix of luxury apartment complexes and single-family home rentals, with steady demand supported by the area's high quality of life.
The local economy is anchored by healthcare, retail, and professional services, with many residents commuting to major employers in the Minneapolis-St. Paul metro area.
The area is served by a network of highways including I-494 and I-394, with limited public transit options primarily consisting of express bus service to downtown.
Development is focused on infill projects and the modernization of existing commercial centers to meet current market demands.
Hennepin County Assessor manages property valuations, utilizing annual market analysis to determine taxable values.
Parcels are subject to Hennepin County, Minnetonka city, and Minnetonka Public Schools district levies.
Property insurance premiums are influenced by regional weather patterns, including hail and wind risk common in Minnesota.
Data retrieved from data.census.gov ZCTA 55345 profile.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- Mall of America®4.612.9 mi
- Valleyfair4.28.6 mi
- Great Wolf Lodge | Minnesota3.912.4 mi
- Nickelodeon Universe4.512.9 mi
- Slick City Action Park4.512.5 mi
- U.S. Bank Stadium4.612 mi
- Grand Casino Arena4.619.1 mi
- Minneapolis Convention Center4.511.2 mi
- Minnesota State Fair4.716.1 mi
- Topgolf Brooklyn Center4.314.4 mi
- Mall of America®4.612.9 mi
- U.S. Bank Stadium4.612 mi
- Valleyfair4.28.6 mi
- Minneapolis Institute of Art4.811 mi
- Canterbury Park4.58.9 mi
- Minneapolis Institute of Art4.811 mi
- Science Museum of Minnesota4.619.2 mi
- University of Minnesota Landscape Arboretum4.87.3 mi
- Walker Art Center4.510.4 mi
- Union Depot4.519.8 mi
- University of Minnesota Landscape Arboretum4.87.3 mi
- Minneapolis Sculpture Garden4.710.4 mi
- Centennial Lakes Park4.78.8 mi
- Lake Harriet Regional Park4.89 mi
- Clifton E. French Regional Park4.77.6 mi
- Wayzata Yacht Club4.83.3 mi
- Howard's Point Marina4.66.8 mi
- Wayzata Bay Charter Cruises on Lake Minnetonka4.73.8 mi
- Metro Lakes Marina & Rentals LLC.4.57.8 mi
- Your Boat Club Lake Minnetonka Brown's Bay4.84.5 mi
- The Minikahda Club4.48.4 mi
- Braemar Golf Course4.46.3 mi
- Puttery4.711.6 mi
- Brookview Golf Course and Lawn Bowling4.26.4 mi
- Rush Creek Golf Club4.612.3 mi
- Mall of America®4.612.9 mi
- Ridgedale Center4.44.3 mi
- Karmel Mall4.110.4 mi
- Asia Mall4.34.8 mi
- Southdale Center4.28.5 mi
- Minneapolis-Saint Paul International Airport4.413.7 mi
- Shoyu3.713.8 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
A major regional lake offering boating, fishing, and recreational activities.
A major regional shopping mall located near the border of the ZIP.
Large park featuring trails, swimming beach, and picnic areas.
Key-figure check: median price corroborated by the published ten-year series (2024) (within 12.5%).