What Your Budget Buys in the Twin Cities: From $300K to $50 Million

Twin Cities homes start around $300,000, and one is listed at $50 million. Most people only see one end of that range. Here’s every price tier, so you can see what fits your budget.

Prices are as of my video above (May 2026).

Tier 1: about $200,000 to $350,000

• Richfield, directly south of Minneapolis: close in without city pricing, with homes typically in the mid-$300,000s, walkable neighborhoods and bike lanes. Wood Lake Nature Center (about 150 acres with boardwalk trails, wildlife and winter snowshoeing) is one of my favorite places to walk, and Veterans Park adds a lake, an ice rink and mini golf. Prices have stayed relatively flat while other suburbs climbed, which is the opportunity. Trade-off: smaller lots and a city-suburb feel. I’ve owned rentals there since 2008 and 2009, and I wouldn’t hold them that long if I didn’t believe in it.
• Northfield, about 40 miles south on the Cannon River: small-town energy, coffee shops, breweries, local restaurants, and St. Olaf and Carleton colleges. Homes run in the mid to high $300,000s, with a bit less competition. Trade-off: the commute.
• Bloomington, about 10 miles south of downtown, with about 88,000 people and highways in every direction: the Mall of America (500-plus stores, Nickelodeon Universe, Sea Life and a water park on the way) and the Minnesota Valley National Wildlife Refuge along the river. The middle of the market is in the mid to high $300,000s, and it moves fast.

Tier 2: about $350,000 to $500,000, the busiest range

• Maple Grove: one of the most in-demand suburbs, with homes from the mid-$400,000s. The community center is expanding (a new ice sheet, pools and fitness space), a new Life Time is coming, and Elm Creek Park Reserve is one of the metro’s largest parks. Trade-off: very car-dependent.
• Savage, about 15 miles southwest, with about 33,000 people and a strong community feel: Savage Community Park (pickleball, fishing and fields) and Murphy-Hanrehan Park Reserve (mountain biking, skiing, hiking and horse trails). Homes run in the low $400,000s. Trade-off: more driving.

Tier 3: about $500,000 to $750,000

• Woodbury, about 20 miles east, with about 83,000 people: homes from the low $400,000s, with single-family homes quickly reaching the mid-$500,000s. Central Park just finished a roughly $41 million renovation with an amphitheater and an indoor playground. About 3,500 acres of parkland and eight lakes with public access. Trade-off: a longer drive west.
• Lakeville, my hometown, about 25 miles south, with about 81,000 people: high $400,000s to low $500,000s and up, more than 100 parks, about 140 miles of trails and Lake Marion. Homes are staying on the market a little longer, so there’s a bit less competition, but great homes still move fast.
• Chanhassen, named Money’s #1 best place to live in 2021, about 30 minutes from downtown: 12 lakes, 66-plus miles of trails and Prince’s Paisley Park, with a new community center in the works. Homes start in the high $500,000s and easily reach $1 million.

Tier 4: about $750,000 and up

• Edina, about 10 miles from Minneapolis, with 50th & France (175 shops and restaurants) at its heart. Homes average in the high $700,000s, and many areas run well past $1 million. The METRO E Line makes getting downtown without a car easier.
• Medina, about 18 miles west: rural, with large lots, open land and acreage estates. Values start in the low $800,000s and reach many millions, close to Maple Grove and Plymouth shopping but car-dependent.

Tier 5: about $1 million to $5 million

• Bde Maka Ska (renamed in 2018 from Lake Calhoun), the largest lake in Minneapolis: active and social, with Uptown just east. Listings range from condos to $1 million-plus homes across the parkway and trail from the water (no direct lake access).
• Orono, on Lake Minnetonka (about 8,200 people): privacy and land, with averages in the low millions, low inventory and strong demand.
• Lake of the Isles in Minneapolis: historic homes, lake views and connected trails, with listings from about $400,000 condos to about $8 million estates.

Tier 6: $5 million and up

Lake Minnetonka leads the state in pricing. Wayzata, on the northeast shore about 11 miles from Minneapolis, has a walkable downtown that feels like the Hamptons or Nantucket, with lakefront dining and boating on 14,000-plus acres of water. The Lake Point estate (8 acres, 650 feet of shoreline) is listed at $50 million, the most expensive listing in Minnesota history. More in why it’s nearly impossible to move to Wayzata.

Something for everyone

From about $300,000 to $50 million, there’s a range here few metros can match. Email our team and we’ll help you find the right fit for your budget, or see $750K in the Twin Cities: where I’d look.