Overview of Minnetonka
Situated just eight miles west of Minneapolis, Minnetonka boasts a suburban atmosphere with big-city amenities to please anyone. If you're looking at Minnetonka apartments for rent, you'll find there are 49 community parks, more than 81 miles of maintained sidewalks and 1,000 acres of outdoor space – great for families and outdoor enthusiasts. Rated as extremely livable by AreaVibes, Minnetonka received a score of 79 for its low crime rates, high income per capita, stable housing market and high graduation rates. According to statistics from the U.S. Census Bureau, roughly 50,400 people call Minnetonka home, so why not join in on the fun?
Living in Minnetonka
It may come as no surprise that Minnetonka apartments for rent are likely near a lake – you're in the Land of 10,000 Lakes after all. Lake Minnetonka is one of the city's most popular regional attractions where residents are able to enjoy aquatic recreation during the summer. If you're hoping to find culture and entertainment in Minnetonka apartments, you're only minutes away from the hustle and bustle of the Twin Cities.
Minnetonka Apartments and Cost of Living
Apartments in Minnetonka have a median rental rate that is 141 percent more expensive than the median throughout the state, which is a direct reflection of the high quality of life and nearby amenities. Overall, the cost of living is 29 percent more than the rest of the state, but the median household income is 54 percent more than the average Minnesotan's. Only 13 percent of homes in Minnetonka are renter-occupied, so Minnetonka apartments for rent here are seen as a hot commodity.
Minnetonka is a car-dependent community, according to WalkScore, but the cost of transportation isn't far off from the rest of the state. The average cost of a gallon of gas is on par with Minnesota's average and the commute time is about 4 percent longer.
Apartments in Minnetonka Work and Study
When you're living in apartments for rent in Minnetonka, you'll be within minutes of plenty of job opportunities in the city and the Twin Cities. Some of the region's top employers include the United States Federal Government, Allina Health System, Wells Fargo, University of Minnesota, Target Corp. and UnitedHealth Group.
Students living in Minnetonka apartments are in close proximity to some of the best colleges and universities in the state. The University of Minnesota, Hamline University, Bethel University, Concordia University, College of Visual Arts and Metropolitan State University are located in the Twin Cities, as well as a number of technical and vocational institutes.