Lake Minnetonka is home to a number of the most expensive ZIP codes in Minnesota.
Recently, we’ve been analyzing ZIP codes in terms of their home values. Not long ago, we identified the most expensive ZIP codes in Wisconsin. For this iteration, we decided to analyze Minnesota in terms of its ZIP codes. Through our analysis of monthly home values, as well as financial data from the Census Bureau, we’ve identified the most expensive ZIP codes in states such as Arkansas, Virginia, and Delaware, among others. Now, it’s time to turn to Minnesota as we break out west of the Mississippi.
So, read on to find out the most expensive ZIP codes in Minnesota in 2025, relying on data from Zillow’s home value index and the Census Bureau.
The Most Expensive ZIP Codes In Minnesota
Zillow’s home value index tracks monthly home values for all types of homes on a monthly basis. For Minnesota, as of January 2025, it tracks 718 ZIP codes. Home values across most of Minnesota’s ZIP codes have seen solid growth since the pandemic hit in 2020. Growth slowed a bit from 2023 to 2024, but then picked back up.
As part of our analysis, we took into consideration the latest monthly home values Zillow has — January 2025 — as well as the average of 12 months of median home values from February 2024 to January 2025, in order to gain a fuller picture. Below are the 25 most expensive ZIP codes in Minnesota.
The Top 5 Most Expensive ZIP Codes In Minnesota
The No. 1 most expensive ZIP code in Minnesota is 55424, which is covers northwest Edina. Some of the places within this ZIP code include White Oaks, Sunny Slope, Arden Park, Minnehaha Woods, and Pamela Park. Incomes in this ZIP code are incredibly high. Well over half of households in 55424 earn $200,000 or more per year. The median household income is $241,875 and the average household income is $340,154. Home values appreciated here by a respectable amount, but not as much as in many other ZIP codes we’ve examined. From a median home value of $740,518 in January 2025, the median rose by 28.9%, reaching $954,510 in January 2025.
The second most expensive ZIP code is 55391, which covers Wayzata and Woodland, on Lower Lake, not far from Lake Minnetonka. There are 6,638 households in this ZIP code and 42.5% of them earn $200,000 or more. The median household income is $170,115, but the mean is far higher, at $279,373. Home value appreciation here surpassed that of the No. 1 most expensive ZIP code: 42.1%, from $638,448 in January 2020 to $906,952 in January 2025.
The No. 3 most expensive ZIP code in Minnesota is 55331. It’s near the No. 2 most expensive ZIP code, though this one sits on Lake Minnetonka. It covers Excelsior, Tonka, Shorewood, and Greenwood. The income distribution here leans heavily towards those making $200,000 more a year, with 40.9% of households doing so. The median household income is $160,029, while the average household income is $250,938. Home value rose by a little under 36% since 2020. The home value back in January 2020 was $561,483. Five years later, it had reached close to $762 million.
The fourth most expensive ZIP code in Minnesota is 55356, which is anchored on the city of Orono. It includes Long Lake as well, and it stretches north to Medina. It’s not far from the No. 2 and No. 3 most expensive ZIP codes. Two-fifths of households in 55356 earn $200,000 or more per year. The median household income is over $171,000, with a mean income of $309,302. Home value growth was just shy of 40%. It climbed from $538,433 in January 2020 to $570,901 in January 2023. It then took a great leap forward to $662,564 in January 2023. By January 2025, the median home value was $748,765, with a 12-month average of $731,187.
The fifth most expensive ZIP code in Minnesota is 55340, which is north of Lake Minnetonka, centered on Corcoran, but includes Medina. Here’s another ZIP code where more than two-fifths of households bring in $200,000 or more a year. The median household income is $174,120 and a mean household income of $227,361. In January 2020, the median home value was less than $500,000. Five years later, by the end of January 2025, the median had risen by 33.9% to $663,587.