Minneapolis' Cheapest vs Most Expensive Neighborhoods
About this video
Minneapolis has homes starting around $300,000 — and one listing on Lake Minnetonka asking $50 million. Yes, you read that right.
In this video, I'm breaking down every price tier in the Twin Cities, from the most affordable first-ring suburbs to the most exclusive lakefront estates in the state. Whether you're house hunting on a $350,000 budget or shopping in the multi-million dollar luxury market, I'll show you exactly which neighborhoods fit your price point and what tradeoffs come with each one.
I cover Richfield, Northfield, Bloomington, Maple Grove, Savage, Woodbury, Lakeville, Chanhassen, Edina, Medina, Bde Maka Ska, Orono, Lake of the Isles, and the Lake Minnetonka luxury market in Wayzata. You'll see which suburbs deliver the best value, where the commute tradeoffs hit hardest, and why Lake Minnetonka leads the entire state in luxury pricing.
Key takeaways
- Twin Cities homes run from about $300,000 to a record $50 million listing. Jason sorts places into price tiers, with prices as stated in the video.
- $200,000 to $350,000: Richfield (mid-$300,000s, just south of Minneapolis, Wood Lake Nature Center), Northfield (mid to high $300,000s, a river and college town about 40 miles south) and Bloomington (mid to high $300,000s, Mall of America, the Minnesota Valley National Wildlife Refuge).
- $350,000 to $500,000: Maple Grove (mid-$400,000s and up, Elm Creek Park Reserve) and Savage (low $400,000s, Murphy-Hanrehan Park Reserve).
- $500,000 to $750,000: Woodbury (about 3,500 acres of parkland and a renovated Central Park), Lakeville (high $400,000s to low $500,000s, more than 100 parks, Lake Marion) and Chanhassen (high $500,000s and up, 12 lakes, Paisley Park).
- $750,000 and up: Edina (high $700,000s average, 50th and France) and Medina (from the low $800,000s, acreage estates, car-dependent).
- $1 million to $5 million: homes facing Bde Maka Ska (across the parkway from the lake), Orono on Lake Minnetonka and Lake of the Isles (condos from about $400,000, estates up to about $8 million). $5 million and up: Wayzata, home to the $50 million Lake Point Estate listing.
Questions this video answers
Where can I buy a home for under $350,000 near Minneapolis?
Jason points to Richfield, Northfield and Bloomington, where homes were typically in the mid to high $300,000s at the time of the video.
Do homes on Bde Maka Ska have lake access?
Not directly. The homes face the lake across a parkway and trail, according to the video, so you get the views and the trails without private shoreline.
Read more: Where homes sell for under $400K · Bloomington vs. Richfield · Bde Maka Ska homes · Highest-priced markets
Notes written by Huerkamp Home Group from this video. Figures are as stated in the video on May 12, 2026; check the current numbers in our market reports.
