Living in Shorewood, Minnesota
Cost of living, income, home prices, rent and demographics of Shorewood · Census data 2020–2024
Shorewood has 7,647 residents with a median age of 48.3. The median household income is $171,063 (92% higher than the Minnesota median), the median home value is $703,200, the median rent is $1,607/month.
Shorewood at a glance
- Population
- 7,647
- Median age
- 48.3State: 38.8
- Median household income
- $171,063State: $89,062
- Median home value
- $703,200State: $329,300
- Median rent
- $1,607/moState: $1,280
- Homeowners
- 93.2%
- Bachelor's degree or higher
- 72.1%
- Average commute
- 23 min
Is Shorewood a good place to live?
Pros: Median household income 92% higher than the Minnesota median; an average commute of 23 minutes; a poverty rate of 5.2%.
Cons: Home values 114% higher than the state median; unemployment of 5%.
The weather is best in June to September.
Cost of living in Shorewood
Housing is the biggest part of the cost of living. In Shorewood the median home value is $703,200, 111% higher than the U.S. median. Renters pay a median of $1,607 per month, which is 32.7% of household income. Homeowners with a mortgage pay $3,628 a month in housing costs.
Shorewood median household income
The median household income in Shorewood is $171,063 and the income per person is $95,933. 5.2% of residents live below the poverty line (Minnesota: 9.3%).
Housing in Shorewood: homes for sale and rent
- Housing units
- 3,041
- Owner-occupied
- 93.2%
- Renter-occupied
- 6.8%
- Vacant
- 2.2%Includes seasonal homes
- Median year built
- 1987
- Average household size
- 2.57
Shorewood demographics
- Population
- 7,647
- Median age
- 48.3
- Under 18
- 26.5%
- 65 and older
- 19.6%
- Households
- 2,975
- Foreign-born
- 3.5%
- Veterans
- 6.9%Adults 18+
Hispanic or Latino can be of any race. Population history of Shorewood ›
Education in Shorewood
72.1% of adults 25 and older in Shorewood have a bachelor's degree or higher (Minnesota: 39.4%), and 26.9% have a graduate or professional degree.
Jobs and commute in Shorewood
- Unemployment rate
- 5%State: 4.1%
- Average commute
- 23 minState: 23 min
- Work from home
- 30.4%
- Drive alone
- 62.7%
- Public transit
- 0.1%
- Walk to work
- 1%
- Homes with broadband
- 97.8%
Shorewood vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Shorewood | 7,647 | $171,063 | $703,200 | $1,607 |
| Tonka Bay | 1,270 | $156,458 | $917,100 | $2,320 |
| Excelsior | 2,570 | $103,068 | $909,200 | $1,143 |
| Greenwood | 699 | $215,278 | $1,240,400 | $1,885 |
| Village of Minnetonka Beach | 469 | $250,001 | $2,000,001 | — |
| Spring Park | 1,896 | $48,315 | $661,600 | $1,241 |
| Mound | 9,107 | $86,675 | $370,800 | $1,098 |
| Deephaven | 3,793 | $197,679 | $935,900 | — |
| Chanhassen | 26,006 | $143,651 | $566,300 | $1,831 |
More for people moving to Shorewood
Shorewood ZIP code ›Weather and climate ›Living in Shorewood: FAQ
What is the median household income in Shorewood, MN?
The median household income in Shorewood is $171,063, 92% 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 Shorewood?
The median home value in Shorewood is $703,200, compared with $329,300 in Minnesota.
How much is rent in Shorewood?
The median gross rent in Shorewood is $1,607 per month, about 32.7% of household income.
Is Shorewood, MN a good place to live?
Pluses: median household income 92% higher than the Minnesota median; an average commute of 23 minutes; a poverty rate of 5.2%. Minuses: home values 114% higher than the state median; unemployment of 5%.
What is the median age in Shorewood?
The median age in Shorewood is 48.3 years (Minnesota: 38.8).
How long is the commute in Shorewood?
The average commute to work in Shorewood is 23 minutes; 30.4% of workers work from home.
What is the unemployment rate in Shorewood?
The unemployment rate in Shorewood is 5% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Shorewood?
72.1% of adults in Shorewood 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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