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The total population of Minnetonka is estimated to be 53,529 with 26,558 males (49.61%) and 26,971 females (50.39%). There are 413 more females than males in Minnetonka.
The median household income in Minnetonka was $114,602 in 2021, which marked an an increase of 877(0.77%) from $113,725 in 2020. This income is 153.61% of the U.S. median household income of $74,606 (all incomes in 2022 inflation-adjusted dollars).
Per the latest American Community Survey by the Census Bureau, Minnetonka sees its highest median household income among householders in the age group of 45 to 64 years old, at $138,603. Overall, the median household income for the city of Minnetonka stands at $114,602.
In Minnetonka, the median income for all workers aged 15 years and older, regardless of work hours, was $74,172 for males and $49,100 for females. However, when specifically considering full-time, year-round workers within the same age group, the median income was $99,377 for males and $75,786 for females.
In Minnetonka, the demographic landscape is diverse, spanning 4 distinct racial categories among households. Among these, Two or More Races households have the highest median household income at $160,691, while Black or African American households represent the opposite end with the lowest median household income of $67,311.
In 2022, the population of Minnetonka was 52,544, a 1.23% decrease year-by-year from 2021. Previously, in 2021, Minnetonka's population was 53,200, a decline of 1.63% compared to a population of 54,083 in 2020.
The median age in Minnetonka, MN is 42.5, as per 2021 ACS 5-Year Estimates. Of the total population, 17.13% were under the age of 15, 15.87% aged 15 to 29, 46.22% aged 30 to 64, 17.62% aged 65 to 84, and 3.16% were 85 years of age and older.
Racial distribution of Minnetonka population: 83.74% are White, 4.93% are Black or African American, 0.14% are American Indian and Alaska Native, 6.45% are Asian, 0.01% are Native Hawaiian and other Pacific Islander, 0.38% are some other race and 4.35% are multiracial.