What Does $1 Million Buy in the Twin Cities? Square Feet by Suburb, From Wayzata to Burnsville
Quick answer: at each community’s price per square foot over the past year, $1 million buys about 2,000 square feet in Wayzata, about 3,400 in Edina, about 3,900 in Minneapolis and about 5,600 in Burnsville. Across the 16-county Twin Cities region, it’s about 4,600 square feet. Lake Minnetonka towns are the most expensive per square foot by a wide margin.
The figures below divide $1,000,000 by each community’s price per square foot for homes that sold in the 12 months through September 2026, from the Minneapolis Area REALTORS® Local Market Update (NorthstarMLS data). They’re rounded to the nearest 10 square feet.
$1 million, community by community
| Community | Price per sq ft | What $1 million buys | Median sale price | Homes sold |
|---|---|---|---|---|
| Wayzata | $507 | about 1,970 sq ft | $1,137,000 | 87 |
| Orono | $412 | about 2,430 sq ft | $1,225,000 | 131 |
| Deephaven | $404 | about 2,480 sq ft | $1,207,500 | 50 |
| Excelsior | $389 | about 2,570 sq ft | $725,000 | 57 |
| Shorewood | $318 | about 3,140 sq ft | $930,500 | 114 |
| Medina | $311 | about 3,220 sq ft | $1,034,752 | 142 |
| Edina | $297 | about 3,370 sq ft | $696,250 | 770 |
| North Oaks | $288 | about 3,470 sq ft | $950,000 | 93 |
| Minnetrista | $260 | about 3,850 sq ft | $719,990 | 193 |
| Afton | $257 | about 3,890 sq ft | $770,500 | 30 |
| Minneapolis | $255 | about 3,920 sq ft | $353,500 | 4,031 |
| Minnetonka | $242 | about 4,130 sq ft | $499,700 | 774 |
| Chanhassen | $232 | about 4,310 sq ft | $600,000 | 382 |
| Prior Lake | $228 | about 4,390 sq ft | $500,000 | 423 |
| Plymouth | $218 | about 4,590 sq ft | $505,000 | 1,091 |
| Eden Prairie | $214 | about 4,670 sq ft | $500,000 | 799 |
| Saint Paul | $214 | about 4,670 sq ft | $300,000 | 2,682 |
| Lakeville | $205 | about 4,880 sq ft | $510,000 | 1,131 |
| Maple Grove | $204 | about 4,900 sq ft | $430,000 | 1,147 |
| Woodbury | $199 | about 5,030 sq ft | $457,700 | 1,125 |
| Eagan | $198 | about 5,050 sq ft | $395,900 | 745 |
| Apple Valley | $191 | about 5,240 sq ft | $380,000 | 655 |
| Burnsville | $179 | about 5,590 sq ft | $382,750 | 708 |
| 16-county Twin Cities region | $217 | about 4,610 sq ft | $395,000 | 46,821 |
Homes sold and median price are for the same 12 months. Afton (30 sales) and Deephaven (50) had few sales, so one or two large estates can move their numbers a lot.
What the numbers say
The lake costs more than the house. Wayzata, Orono, Deephaven and Excelsior, all on Lake Minnetonka, top the list at $389 to $507 a square foot. Wayzata’s price per square foot is more than double the region’s $217, and all four towns sit on Lake Minnetonka.
Edina and North Oaks are the next tier. At about $290 to $300 a square foot, $1 million there works out to roughly 3,400 to 3,500 square feet. Edina’s median sale price ($696,250) means most of its homes sell for well under $1 million.
Minneapolis is pricier per foot than most suburbs. At $255 a square foot, Minneapolis costs more per foot than Minnetonka, Eden Prairie or Plymouth, even though its median sale price ($353,500) is lower.
In the south and east suburbs, $1 million goes furthest. In Lakeville, Woodbury, Eagan, Apple Valley and Burnsville, $1 million works out to roughly 4,900 to 5,600 square feet at the price per foot of homes sold there. Fewer homes there are listed at $1 million or more; the luxury list has current counts by city.
How to read these numbers
Each community’s price per square foot covers every home that sold there, from starter homes to estates. A $1 million home in a given town can cost more or less per foot than its town’s figure: newer construction, lakeshore, acreage and a walkout lower level all change it. Use the table to compare towns, not to price a specific house.
See the homes
- Every home listed at $1 million or more right now, most expensive first, with counts by city: luxury homes for sale in Minnesota
- On the water: lake homes, including Lake Minnetonka
- Each community’s full market numbers: Twin Cities market by city
Thinking about a move in this range? We can set up private showings and help you compare towns on what matters to you: water, land, the drive, the house. Tell us what you’re looking for.
Source: Minneapolis Area REALTORS® Local Market Update, September 2026 reports (12 months through September 2026), NorthstarMLS data, produced by ShowingTime Plus. The reports do not account for seller concessions. “What $1 million buys” is $1,000,000 divided by the reported price per square foot, rounded.
