Feb 17, 2022 - Real Estate

A look at the Twin Cities metro's million-dollar towns

Twin Cities’ most expensive places to live
Data: Zillow; Note: Typical home value is Zillow's weighted average of "Zestimates" in the middle third of homes; Table: Thomas Oide/Axios

Living in one of the metro's most expensive cities will likely set you back $1 million or more.

What's new: The value of the typical home exceeds seven figures in Minnetonka Beach, Greenwood, Woodland and Sunfish Lake, a new Zillow analysis found.

The big picture: A record 481 U.S. cities now have a typical home worth $1 million or more, per Zillow's weighted average of "Zestimates" in the middle third of homes.

  • That's a 35% increase from the year before.

Context: Homes in our top-priced communities are worth far more than Zillow's Twin Cities metro-wide average of $354,653.

  • But they're bargains compared to the nation's most expensive city,  Indian Creek, Florida. The average mansion on the exclusive Miami Beach island is worth $28 million.

Thought bubble: Three of the top four towns are on Lake Minnetonka, while the fourth is near the south metro's tiny Sunfish Lake (population roughly 500).

  • It's been home to Joe Mauer and former Vikings defensive tackle Linval Joseph.
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