
Deephaven sits along the shores of Lake Minnetonka in western Hennepin County. Luxury lake homes and private docks keep prices high across the city. Many buyers move here for boating, quiet streets, and large wooded lots. Cottage-style homes and modern waterfront estates shape much of the local market. Limited inventory and strong demand makes competition tough for buyers looking to buy in the area. Deephaven has become one of Minnesota's most exclusive lakefront communities because of its combination of natural beauty, privacy, and luxury real estate.
Deephaven sits along the shores of Lake Minnetonka in western Hennepin County. Luxury lake homes and private docks keep prices high across the city. Many buyers move here for boating, quiet streets, and large wooded lots. Cottage-...
Personal Safety : 98
Property Safety : 99
Community Safety : 97
$1,984,000
Median Home Rent
$4,700

Orono is one of Minnesota's wealthiest lake communities. Large estates, horse properties, and waterfront homes attract affluent buyers from across the Twin Cities. Many families also move here for top-rated schools and more privacy. Lake Minnetonka gives residents easy access to boating and waterfront dining. However, larger properties often bring higher upkeep costs.
Orono is one of Minnesota's wealthiest lake communities. Large estates, horse properties, and waterfront homes attract affluent buyers from across the Twin Cities. Many families also move here for top-rated schools and more privac...
Personal Safety : 89
Property Safety : 92
Community Safety : 79
$2,495,000
Median Home Rent
$2,950

Minnetonka Beach is a small village with some of the state's most valuable lakefront homes. Many properties include long shorelines, private docks, and outdoor living spaces designed to take full advantage of the lake. Despite its proximity to the Twin Cities, the village maintains a quiet, residential atmosphere that appeals to buyers seeking privacy and a slower pace of life. However, very few homes become available each year. As a result, prices remain extremely high.
Minnetonka Beach is a small village with some of the state's most valuable lakefront homes. Many properties include long shorelines, private docks, and outdoor living spaces designed to take full advantage of the lake. Despite its...
Personal Safety : 41
Property Safety : 90
Community Safety : 12
$1,950,000
Median Home Rent
$1,982

Shorewood offers a balance of upscale suburban and lakeside charm along the shores of Lake Minnetonka. Luxury homes and wooded streets attract buyers who want more privacy near the water. Residents enjoy easy access to parks, walking trails, marinas, and a variety of outdoor activities throughout the year. Many families move to Shorewood for larger homes and quieter neighborhoods. Its proximity to the lake and continued demand for high-end housing have helped support strong property values.
Shorewood offers a balance of upscale suburban and lakeside charm along the shores of Lake Minnetonka. Luxury homes and wooded streets attract buyers who want more privacy near the water. Residents enjoy easy access to parks, walk...
Personal Safety : 41
Property Safety : 90
Community Safety : 12
$1,197,500
Median Home Rent
$2,000

Wayzata is one of the most sought-after luxury markets around Lake Minnetonka. High-end condos and waterfront estates continue driving prices upward. The downtown area features boutique shopping, lakefront dining, and busy marinas. Many buyers enjoy being able to walk between restaurants, shops, and the waterfront.
Wayzata is one of the most sought-after luxury markets around Lake Minnetonka. High-end condos and waterfront estates continue driving prices upward. The downtown area features boutique shopping, lakefront dining, and busy marinas...
Personal Safety : 90
Property Safety : 77
Community Safety : 75
$2,300,000
Median Home Rent
$1,950

Greenwood is one of the most private and exclusive communities on Lake Minnetonka. Privacy plays a major role in Greenwood's housing market. The city features luxury homes tucked between wooded lots and quiet lakefront roads. Buyers often move here for a slower pace near Lake Minnetonka. Nearby country clubs and boating access also add to the area's appeal.
Greenwood is one of the most private and exclusive communities on Lake Minnetonka. Privacy plays a major role in Greenwood's housing market. The city features luxury homes tucked between wooded lots and quiet lakefront roads. Buye...
Personal Safety : 41
Property Safety : 90
Community Safety : 12
$2,622,500
Median Home Rent
$1,885

North Oaks stands apart from other Twin Cities communities with its emphasis on privacy, open space, and luxury living. Known for its large estate homes, private roads, and heavily wooded surroundings that appeal to affluent buyers. Carefully planned development has helped preserve the area's natural beauty, while amenities such as golf courses, walking trails, and private lakes enhance its desirability.
North Oaks stands apart from other Twin Cities communities with its emphasis on privacy, open space, and luxury living. Known for its large estate homes, private roads, and heavily wooded surroundings that appeal to affluent buyer...
Personal Safety : 78
Property Safety : 68
Community Safety : 67
$997,500
Median Home Rent
$3,501

Medina offers a unique blend of luxury and expansive open space, making it one of the most desirable communities in the western Twin Cities. Custom homes, horse farms, and gated estates attract affluent buyers into the area. Many families also move here for more land and quieter surroundings. Golf courses and country roads help shape the city's upscale identity.
Medina offers a unique blend of luxury and expansive open space, making it one of the most desirable communities in the western Twin Cities. Custom homes, horse farms, and gated estates attract affluent buyers into the area. Many ...
Personal Safety : 98
Property Safety : 97
Community Safety : 95
$999,935
Median Home Rent
$2,690

Minnetrista has become an increasingly popular choice for buyers seeking more space and a quieter lifestyle near Lake Minnetonka. The city features a mixture of newer custom homes and luxury developments that continue expanding across the city. Families often move here for larger yards and quieter neighborhoods while remaining within the reach of the Twin Cities. Continued residential growth and strong demand for larger homes have helped support rising property values.
Minnetrista has become an increasingly popular choice for buyers seeking more space and a quieter lifestyle near Lake Minnetonka. The city features a mixture of newer custom homes and luxury developments that continue expanding ac...
Personal Safety : 97
Property Safety : 93
Community Safety : 94
$1,099,900
Median Home Rent
$2,800

Dellwood is one of the most private luxury communities in the Twin Cities, known for its estate-sized homes and tree-lined lakes. Many buyers move here for privacy while staying close to St. Paul job centers. Golf courses and country clubs also help support the area's upscale image.
Dellwood is one of the most private luxury communities in the Twin Cities, known for its estate-sized homes and tree-lined lakes. Many buyers move here for privacy while staying close to St. Paul job centers. Golf courses and coun...
Personal Safety : 87
Property Safety : 89
Community Safety : 80
$817,500
Median Home Rent
$1,333
Transparent & data-driven
Each city is scored across five weighted categories using daily MLS data and verified government stats. Every metric is benchmarked against both its state average and the national average — dual benchmarking — so a market isn’t judged expensive just for sitting in a high-cost state.
Sale price, price per sq ft & high-value concentration vs. state and national benchmarks.
Median rent, rent-to-income ratio & rental demand vs. state and national medians.
The gap between median household income and the cost of living for the area.
Turnover, scarcity, days on market & buyer competition from Houzeo’s live MLS feed.
Utilities, transportation & everyday goods vs. state and national averages — the tiebreaker.
MLS metrics update daily; government data is added on each agency’s release schedule.
High home prices are only part of the equation in Minnesota's priciest lakefront markets. Property taxes, upkeep, and shoreline maintenance all add to the overall cost of ownership. Here is what to expect across five of Minnesota's most expensive cities.
| City | Median Home Price | Median Rent | Cost of Living | Rank |
|---|---|---|---|---|
| Deephaven | $2,700,000 | $4,700 | 1/10 | |
| Orono | $1,540,000 | $2,950 | 2/10 | |
| Minnetonka Beach | $1,525,000 | $1,982 | 3/10 | |
| Shorewood | $1,396,957 | $2,000 | 4/10 | |
| Wayzata | $1,246,000 | $1,950 | 5/10 |
Safety is a key factor for many people moving to Minnesota. These cities rank among the safest in the state based on the latest FBI crime data. They report lower rates of violent and property crime than the Minnesota average. You can explore the full list in our safest places to live in Minnesota rankings.
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