Living in Greenwood, Minnesota
Cost of living, income, home prices, rent and demographics of Greenwood · Census data 2020–2024
Greenwood has 699 residents with a median age of 48.7. The median household income is $215,278 (142% higher than the Minnesota median), the median home value is $1,240,400, the median rent is $1,885/month.
Greenwood is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Greenwood at a glance
- Population
- 699
- Median age
- 48.7State: 38.8
- Median household income
- $215,278State: $89,062
- Median home value
- $1,240,400State: $329,300
- Median rent
- $1,885/moState: $1,280
- Homeowners
- 89.8%
- Bachelor's degree or higher
- 80.6%
- Average commute
- 27 min
Is Greenwood a good place to live?
Pros: Median household income 142% higher than the Minnesota median; unemployment of 1.7%; a poverty rate of 8.8%.
Cons: Home values 277% higher than the state median; an average commute of 27 minutes.
The weather is best in June to September.
Cost of living in Greenwood
Housing is the biggest part of the cost of living. In Greenwood the median home value is $1,240,400, 273% higher than the U.S. median. Renters pay a median of $1,885 per month, which is 50% of household income. Homeowners with a mortgage pay $3,262 a month in housing costs.
Greenwood median household income
The median household income in Greenwood is $215,278 and the income per person is $152,440. 8.8% of residents live below the poverty line (Minnesota: 9.3%).
Housing in Greenwood: homes for sale and rent
- Housing units
- 321
- Owner-occupied
- 89.8%
- Renter-occupied
- 10.2%
- Vacant
- 20.2%Includes seasonal homes
- Median year built
- 1984
- Average household size
- 2.73
Greenwood demographics
- Population
- 699
- Median age
- 48.7
- Under 18
- 17.7%
- 65 and older
- 19.5%
- Households
- 256
- Foreign-born
- 7.3%
- Veterans
- 3.5%Adults 18+
Hispanic or Latino can be of any race. Population history of Greenwood ›
Education in Greenwood
80.6% of adults 25 and older in Greenwood have a bachelor's degree or higher (Minnesota: 39.4%), and 21.4% have a graduate or professional degree.
Jobs and commute in Greenwood
- Unemployment rate
- 1.7%State: 4.1%
- Average commute
- 27 minState: 23 min
- Work from home
- 54.5%
- Drive alone
- 33.9%
- Public transit
- 1%
- Walk to work
- 1.5%
- Homes with broadband
- 99.2%
Greenwood vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Greenwood | 699 | $215,278 | $1,240,400 | $1,885 |
| Excelsior | 2,570 | $103,068 | $909,200 | $1,143 |
| Tonka Bay | 1,270 | $156,458 | $917,100 | $2,320 |
| Deephaven | 3,793 | $197,679 | $935,900 | — |
| Shorewood | 7,647 | $171,063 | $703,200 | $1,607 |
| Village of Minnetonka Beach | 469 | $250,001 | $2,000,001 | — |
| Woodland | 477 | $190,000 | $1,185,300 | — |
| Orono | 8,195 | $173,527 | $1,004,500 | $1,818 |
| Spring Park | 1,896 | $48,315 | $661,600 | $1,241 |
More for people moving to Greenwood
Greenwood ZIP code ›Weather and climate ›Living in Greenwood: FAQ
What is the median household income in Greenwood, MN?
The median household income in Greenwood is $215,278, 142% higher than the Minnesota median of $89,062 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Greenwood?
The median home value in Greenwood is $1,240,400, compared with $329,300 in Minnesota.
How much is rent in Greenwood?
The median gross rent in Greenwood is $1,885 per month, about 50% of household income.
Is Greenwood, MN a good place to live?
Pluses: median household income 142% higher than the Minnesota median; unemployment of 1.7%; a poverty rate of 8.8%. Minuses: home values 277% higher than the state median; an average commute of 27 minutes.
What is the median age in Greenwood?
The median age in Greenwood is 48.7 years (Minnesota: 38.8).
How long is the commute in Greenwood?
The average commute to work in Greenwood is 27 minutes; 54.5% of workers work from home.
What is the unemployment rate in Greenwood?
The unemployment rate in Greenwood is 1.7% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Greenwood?
80.6% of adults in Greenwood have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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