5 Most Expensive Places In MN: How Much It Costs

TWIN CITIES, MN — Where are the five most expensive places to live in Minnesota? It turns out they're all located in the western suburbs of the Twin Cities metro.

According to a 2024 report from Niche, the most expensive place to look for a house right now is Wayzata, where the median home value is $935,500.

Meanwhile, it costs $2,204 a month to rent an apartment in Tonka Bay.

Keep in mind that the current national average for home value is $281,900. The national average for rent is $1,268.

These are the five of the most expensive places to live in Minnesota in 2024:

Wayzata

• Population: 4,365
• Median Home Value: $935,500
• Median Rent: $1,523

Orono

• Population: 8,223
• Median Home Value: $874,500
• Median Rent: $1,638

Tonka Bay

• Population: 1,462
• Median Home Value: $820,800
• Median Rent: $2,204

Deephaven

• Population: 3,852
• Median Home Value: $791,700
• Median Rent: $2,121

Excelsior

• Population: 18,752
• Median Home Value: $739,600
• Median Rent: $1,102