Cities with the most expensive homes in the Minneapolis metro area

Purchasing a home is one of the most important investments there is. More than a place to live, homeownership is an asset with the potential to tremendously rise in value. But with home prices reaching record heights, plays a huge role for buyers.

The typical home value in the United States was $369,678 in August, 1.3% higher than the year before.

High mortgage rates are also making monthly payments more expensive; as of September 17, the sits at 6.95%.

Although home prices have inflated all across the U.S., there are some cities that command a higher price tag than others. Location, size, age, and condition are all contributing factors to home value.

compiled a list of cities with the most expensive homes in the Minneapolis metro area using data from . Charts show the monthly typical home value since January 2018. Data was available for 206 cities and towns.

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#30. Houlton, WI

- Typical home value: $550,422
- 1-year price change: +5.2%
- 5-year price change: +29.2%

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#29. Scandia, MN

- Typical home value: $553,763
- 1-year price change: +4.5%
- 5-year price change: +19.0%

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#28. Chanhassen, MN

- Typical home value: $561,960
- 1-year price change: +2.7%
- 5-year price change: +13.3%

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#27. Mendota Heights, MN

- Typical home value: $572,103
- 1-year price change: +3.5%
- 5-year price change: +14.7%

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#26. Spring Park, MN

- Typical home value: $585,339
- 1-year price change: +6.0%
- 5-year price change: +19.1%

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#25. Greenfield, MN

- Typical home value: $597,539
- 1-year price change: +4.4%
- 5-year price change: +23.3%

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#24. Corcoran, MN

- Typical home value: $602,685
- 1-year price change: +0.7%
- 5-year price change: +13.0%

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#23. Victoria, MN

- Typical home value: $618,938
- 1-year price change: +3.2%
- 5-year price change: +13.4%

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#22. Gem Lake, MN

- Typical home value: $620,294
- 1-year price change: +3.3%
- 5-year price change: +17.8%

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#21. Edina, MN

- Typical home value: $626,258
- 1-year price change: +4.1%
- 5-year price change: +18.4%

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#20. Pine Springs, MN

- Typical home value: $626,362
- 1-year price change: +4.7%
- 5-year price change: +18.2%

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#19. Marine on Saint Croix, MN

- Typical home value: $631,432
- 1-year price change: +5.4%
- 5-year price change: +22.5%

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#18. Lake Elmo, MN

- Typical home value: $638,544
- 1-year price change: +3.0%
- 5-year price change: +15.6%

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#17. Minnetrista, MN

- Typical home value: $684,700
- 1-year price change: +2.7%
- 5-year price change: +15.5%

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#16. Afton, MN

- Typical home value: $726,964
- 1-year price change: +2.9%
- 5-year price change: +16.6%

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#15. Grant, MN

- Typical home value: $733,381
- 1-year price change: +3.6%
- 5-year price change: +17.4%

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#14. Independence, MN

- Typical home value: $808,996
- 1-year price change: +4.1%
- 5-year price change: +22.7%

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#13. Excelsior, MN

- Typical home value: $813,450
- 1-year price change: -0.1%
- 5-year price change: +11.6%

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#12. Shorewood, MN

- Typical home value: $828,641
- 1-year price change: +4.6%
- 5-year price change: +22.2%

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#11. Medina, MN

- Typical home value: $841,104
- 1-year price change: +1.4%
- 5-year price change: +17.7%

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#10. Wayzata, MN

- Typical home value: $945,012
- 1-year price change: +5.7%
- 5-year price change: +22.1%

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#9. Dellwood, MN

- Typical home value: $946,399
- 1-year price change: +3.3%
- 5-year price change: +22.4%

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#8. North Oaks, MN

- Typical home value: $958,858
- 1-year price change: +2.4%
- 5-year price change: +23.7%

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#7. Deephaven, MN

- Typical home value: $1,081,277
- 1-year price change: +3.4%
- 5-year price change: +28.7%

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#6. Tonka Bay, MN

- Typical home value: $1,129,962
- 1-year price change: +8.6%
- 5-year price change: +31.2%

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#5. Orono, MN

- Typical home value: $1,154,275
- 1-year price change: +6.5%
- 5-year price change: +31.7%

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#4. Sunfish Lake, MN

- Typical home value: $1,250,498
- 1-year price change: +4.6%
- 5-year price change: +11.1%

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#3. Woodland, MN

- Typical home value: $1,687,295
- 1-year price change: +6.2%
- 5-year price change: +29.7%

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#2. Greenwood, MN

- Typical home value: $1,710,256
- 1-year price change: +8.6%
- 5-year price change: +31.9%

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#1. Minnetonka Beach, MN

- Typical home value: $2,287,078
- 1-year price change: +12.9%
- 5-year price change: +41.7%

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