Richest Cities in Minnesota: Home to over 10,000 Lakes, Minnesota features lush natural beauty and offers a plethora of outdoor recreational activities. The North Star State also boasts a robust economy, especially with its thriving bioscience, healthcare, manufacturing, and finance industries.
There are many Fortune 500 companies here that add to its promising job market. You’ll find many affluent cities in the state that are home to millionaires and billionaires. Curious to know more?
Dive into our list of the richest cities in Minnesota:
Nestled on the banks of Lake Minnetonka, Orono is a beautiful and affluent city. The average household income here is around $277,647 which is significantly higher than the national average. There are many scenic hiking and biking trails that draw nature lovers and outdoor enthusiasts to this place.
What’s more? It is close to Minneapolis enabling easy access to the big city entertainment scene. Some notable attractions here include Covered Bridge, the public library, and the historical society museum. The median home price here is around $682K.
North Oaks #2
Perched on the banks of St. Croix River, the city features beautiful parks and plenty of hiking and biking trails. Couple that with numerous highly-rated schools that make it a great place to raise a family. The median household income in North Oaks is around $245,753. The tranquil suburban vibe of the place along with its strong community feel draws many people to take up residence here.
As one of the wealthiest cities in the state, houses here come at an average price of around $1.1M. The offerings make it worth the splurge.
Minnetonka Beach #3
Soak in the sun as you take in a beautiful sunset over the lake. Sounds relaxing, doesn’t it? Living in Minnetonka Beach offers many such experiences. No wonder it draws so many to put down their roots here. From lush natural beauty to easy access to the Minneapolis entertainment scene, this lakeside city offers it all.
The city experiences warm summers and mild winters, making it a great destination for outdoor recreational activities. The median household income here is around $318,556 while the average home price is around $1.9M. The city offers a lavish lifestyle which makes it worth the price.
Another expensive city in the state, Greenwood has a vibrant arts scene and lush natural beauty. Nestled between the Twin Cities metro area, it offers easy access to big city amenities without the congestion and noise. This tranquil community has many good schools and a low crime rate.
Love an active lifestyle? You can easily access the nearby lakes and rivers from here. With so much to offer, the median home price here is around $1.0M. It draws many affluent people to move in here and the median household income is around $238,125.
Sunfish Lake #5
Looking for a lavish lifestyle? Sunfish Lake City won’t disappoint. Home to the enchanting sunfish lake, beautiful parks, and open spaces, the city features lush natural beauty. From boating to fishing and biking, there are endless opportunities for outdoor recreation here.
What’s more? There are numerous excellent restaurants and shops that add to the residents’ convenience. With so much to offer, the median home price here is around $2M. The city boasts a high median household income of around $250,000.
Tonka Bay #6
Perched on the shores of Lake Minnetonka, this small but affluent city comes with plenty of attractive offerings. With its sprawling parks, open spaces, and easy access to the lake, it offers endless outdoor recreation activities.
Its proximity to the Twin Cities enables easy access to urban amenities. There are many charming shops and businesses that add to the residents’ convenience. Enjoying all these offerings doesn’t come cheap with the median home price being around $1.8M. But the average median household income helps make up for it at around $211,789.
Located north of Saint Paul, this charming city has plenty to offer to everyone. From picnicking in one of its numerous beautiful parks, and exploring shopping and dining options Downtown to buying fresh produce from the farmers market held from May to November, there are plenty of recreational activities to enjoy here. You can also enjoy live events held at the farmers market during summer. The median home price here is around $828K.
The community boasts a median household income of around $195,774.
Medicine Lake #8
You can get the perfect combination of nature and luxury here. Located on the shores of Medicine Lake, this beautiful city offers an array of exciting outdoor recreational activities such as swimming, and boating to hiking amongst others.
What’s more? It is home to many unique shops, excellent restaurants, and impressive art galleries. If you’re a nature lover or an outdoor enthusiast, you’ll love the fact that the city has many stunning parks and scenic trails. The median home price here is a whopping $1.4M while the average household income is around $146,095.
From great restaurants to beautiful natural spaces, Medina has it all. From digging into a scrumptious meal at one of its many eateries, going on a nature walk in Wolsfeld Woods Scientific and Natural Area (SNA) to boating on Lake Independence, and enjoying a game at Medina Golf & Country Club, there is an array of recreational activities to enjoy here.
It is also home to Medina Entertainment Centre which features many shopping, dining, and entertainment options, perfect for a lively evening out. The median home price here is around $862K while the median household income is around $156,563. Whether you’re looking for a tranquil vibe or a bustling city with high-end amenities, you can find a place here that caters to your requirements.
So, choose the one that ticks off all the boxes on your checklist and get ready to enjoy everything that an affluent city in this vibrant state offers.
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Q. What is the richest town in Minnesota?
Dellwood is considered the richest town in Minnesota.
Q. Which city in Minnesota has the most millionaires?
Minneapolis has the most millionaires in Minnesota.
Q. Where do billionaires live in Minnesota?
Orono, St. Paul, and Mankato are some of the cities that are home to billionaires.
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