Home Insurance in Minnetonka, Minnesota
With a median home value of $475,800, Minnetonka is 21% higher than the Hennepin County median.
The typical home in Minnetonka was built around 1981. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. About 22% of homes were built before 1960, about 14 points below Hennepin County's 36%.
Housing in Minnetonka breaks down to 64% single-family homes and 34% apartments in buildings with 5+ units.
67% of owner-occupied homes in Minnetonka carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
The vacancy rate is 5%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 72% of occupied homes in Minnetonka are owner-occupied.
In Minnetonka, 79% of homes are primarily heated with natural gas.
Hennepin County had 959 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is tornado (Very High). See the full Hennepin County home insurance overview for all FEMA hazard ratings and flood coverage details.
The statewide average premium for a standard HO-3 homeowners policy in Minnesota is $1,988 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $475,800 |
|---|---|
| Median year built | 1981 |
| Owner-occupied share | 72% |
| Share of owner-occupied homes with a mortgage | 67% |
| Top county hazard | Tornado (Very High) |
| Active NFIP policies in Hennepin County | 959 |
| Home insurance premium | $1,988 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)