How much is a home worth in ZIP code 55345?

The typical home in 55345 is worth $541,300, based on the Zillow Home Value Index.

Are home values rising in 55345?

Home values in 55345 are up 3.0% over the past year, and up 4.0% a year over five years.

What is the typical rent in 55345?

A typical home in 55345 rents for about $1,716 a month, a gross rental yield of 3.8%.

What is the property tax rate in 55345?

The effective property tax rate in 55345 is 1.1% — roughly $5,809 a year on a typical home.

ZIP code 55345 has a population of 20,789 and a median household income of $145,332.

HousingHandbookReference data

…

U.S. ZIP Code · MN55345

Hennepin County · Minneapolis-St. Paul-Bloomington, MN-WI

Typical home value

$541,300^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +3.0%
5-year / yr: +4.0%
10-year / yr: +4.6%

Relative price

vs U.S.: +90.6%
vs metro: +41.7%
vs state: +81.8%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 55345 is worth $541,300 — 41.7% above the Minneapolis-St. Paul-Bloomington, MN-WI median. Over the past year, values have risen 3.0%. Homes here rent for a typical $1,716 a month — a 3.8% gross rental yield. The effective property tax rate is 1.1%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $1,716^[2]
Gross yield: 3.8%^[2]
Cap rate: 2.3%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 1.1%^[3]
Typical annual tax: $5,809^[3]

#Climate risk

FEMA National Risk Index ratings for Hennepin County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively High^[4]
Riverine flood: Relatively High
Coastal flood: Not Applicable
Wildfire: Relatively Low
Drought: Relatively Low
Heat wave: Relatively High
Hurricane: Not Applicable
Tornado: Very High
Earthquake: Very Low
Winter weather: Very High

#Who lives here

Population: 20,789^[3]
Median household income: $145,332^[3]

#Migration

Household moves in and out of Hennepin County over a year, from IRS tax-return data.

Net migration: -2,269^[5]
Moved in: 38,182
Moved out: 40,451

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 9
Elementary: 6
Middle: 1
High: 2

MINNETONKA SENIOR HIGH
High · Grades 9–12 · MINNETONKA PUBLIC SCHOOL DISTRICT
3,482 students
MINNETONKA EAST MIDDLE
Middle · Grades 6–8 · MINNETONKA PUBLIC SCHOOL DISTRICT
1,307 students
SCENIC HEIGHTS ELEMENTARY
Elementary · Grades K–5 · MINNETONKA PUBLIC SCHOOL DISTRICT
928 students
GROVELAND ELEMENTARY
Elementary · Grades K–5 · MINNETONKA PUBLIC SCHOOL DISTRICT
910 students
CLEAR SPRINGS ELEMENTARY
Elementary · Grades K–5 · MINNETONKA PUBLIC SCHOOL DISTRICT
866 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield3.8%

Net yield (after ~40% expenses)2.3%

Annual rent$20,592

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$2,737

Loan principal$433,040

Down payment$108,260

Total interest paid$552,319

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio2.14

Monthly cost to own$3,671

Monthly rent$1,716

Renting is meaningfully cheaper month-to-month.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 70th percentile^[1]
Rental yield: 6th percentile^[2]
Property tax: 66th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 55345?: The typical home in 55345 is worth $541,300, based on the Zillow Home Value Index.
Are home values rising in 55345?: Home values in 55345 are up 3.0% over the past year, and up 4.0% a year over five years.
What is the typical rent in 55345?: A typical home in 55345 rents for about $1,716 a month, a gross rental yield of 3.8%.
What is the property tax rate in 55345?: The effective property tax rate in 55345 is 1.1% — roughly $5,809 a year on a typical home.
Who lives in 55345?: ZIP code 55345 has a population of 20,789 and a median household income of $145,332.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

55129 vs 55345 →
Woodbury, MN
Typical home
$541,595
Gross yield
5.3%
55073 vs 55345 →
Scandia, MN
Typical home
$540,354
Gross yield
—
55364
Minnetrista, MN
Typical home
$534,904
Gross yield
4.1%
55317
Chanhassen, MN
Typical home
$533,711
Gross yield
4.8%
54082
Houlton CDP, WI
Typical home
$549,995
Gross yield
—
55357
Greenfield, MN
Typical home
$528,411
Gross yield
—

Want similar ZIPs from outside this metro? Browse nationally similar ZIPs →

Compare ZIPs

Pit ZIP 55345 against any other ZIP — full side-by-side table.

Compare 55345 →

#Jump to section

U.S. ZIP Code · MN55345

Get more data on ZIPs like this

Get more data on ZIPs like this