Cost of Living in Wayzata, MN
Population 4,363 · Minnesota · Data vintage 2023
(100 = US avg)
Home prices in Wayzata run well above the national baseline, with a median of $1 million, though local incomes keep the cost-to-earnings ratio tighter than in coastal metros with comparable sticker prices. Median household earnings of $125,344 place the city among the better-paid Minnesota metros. An unemployment rate of 1.4% points to a labor market well on the tight side of the national distribution.
Located 12 miles west of Minneapolis, Wayzata falls within that metro's commuting orbit. Median home values run roughly 203% higher than Minneapolis' $346,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Wayzata
The median home value in Wayzata is $1,047,400 — 243% above the national median of $305,000. Median rent runs $1,507/month, 15% higher than the national median of $1,314/month. The median household income of $125,344/year is 68% higher than the US median of $74,580. The local unemployment rate is 1.4%, below the national average of 4.8%. Minnesota's top state income tax rate is 9.8% and the combined sales tax is 7.4%. Overall, Wayzata has a cost of living index of 252 versus the US average of 100, meaning it is 152% more expensive.
Wayzata has limited residential data
Detailed housing and income data is limited for this location. Here are the nearest cities with full cost of living data:
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
🏫 Schools
NCES CCD 2019 — public school district data
Frequently Asked Questions
What is the cost of living in Wayzata, MN?
Wayzata has a cost index of 252 (100 = national average). It is 152% above the national average.
What is average rent in Wayzata, MN?
The median gross rent in Wayzata is $1,507 per month based on 2023 Census data.
What is the average home price in Wayzata?
The median home value in Wayzata is $1,047,400 according to Zillow and Census data.
What is the median income in Wayzata?
The median household income in Wayzata is $125,344 per year (2023 ACS 5-year estimates).
What is the sales tax in Wayzata, MN?
The combined state and local sales tax rate in Wayzata is 7.4%. The Minnesota state income tax top rate is 9.8%.
Is Wayzata, MN affordable?
Wayzata is above average in cost of living, with an index of 252 — about 152% higher than the national average.
Wayzata at a Glance
- Population
- 4,363
- Median Income
- $125,344
- Home Value
- $1,047,400
- Median Rent
- $1,507/mo
- Unemployment
- 1.4%
- Sales Tax
- 7.4%
Nearby Cities
Explore county-level cost of living data
Minnesota Rankings
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