10 Small Minnesota Towns that are the Wealthiest in the State

Almost every town has that one neighborhood with incredible homes that cost five times the average person's paycheck. But there are a few towns in Minnesota where that's ALL of the houses.

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Minnesota's Richest Towns are All Small Towns

I wanted to find out which Minnesota towns are the richest in the entire state, so I checked out Forbes' list. All of the ones in the top 10 are small towns with populations less than 10,000.

It's not terribly surprising they all have small populations. Most people can't afford to live in these places so naturally there will be fewer people living there.

The average home value in the top 10 richest towns is all over half a million and the average household income is all 6 figures. The average home in the richest town in Minnesota is valued at over a million. I know, crazy!

Richest Towns in Minnesota

10. Independence

Median Household Income: $198,242

Median Home Value: $587,900

Below is a home recently sold in the Independence area for $1,150,000.

9. Deephaven

Median Household Income: $152,051

Median Home Value: $649,900

Below is a home recently sold in the Deephaven area for $3,925,000.

8. Medina

Median Household Income: $187,031

Median Home Value: $611,800

Below is a home recently sold in the Medina area for $1,260,000.

7. Dellwood

Median Household Income: $206,979

Median Home Value: $675,900

Below is a home recently sold in the Dellwood area for $940,000.

6. Orono

Median Household Income: $159,816

Median Home Value: $766,700

Below is a home recently sold in the Orono area for $980,000.

5. North Oaks

Median Household Income: $220,861

Median Home Value: $696,800

Below is a home recently sold in the North Oaks area for $790,000.

4. Greenwood

Median Household Income: $172,500

Median Home Value: $992,600

Below is a home recently sold in the Greenwood area for $1,965,000.

3. Woodland

Median Household Income: $193,125

Median Home Value: $965,300

Below is a home recently sold in the Woodland area for $8,715,000.

2. Sunfish Lake

Median Household Income: $246,250

Median Home Value: $986,400

Below is a home recently sold in the Sunfish Lake area for $2,350,000.

1. Minnetonka Beach

Median Household Income: $246,250

Median Home Value: $1,125,000

Below is a home recently sold in the Minnetonka Beach area for $7,624,500.

Who else isn't surprised that most of them are in the Lake Minnetonka area? Yeah, I had a feeling that area would be featured a lot in this list.