For many buyers relocating to the Twin Cities, two lakes consistently rise to the top of the search: Lake Minnetonka and Prior Lake.
Along with White Bear Lake, these lakes represent some of the most desirable waterfront communities in the region.
Each offers a different lifestyle, but all three have become known for strong property values, active lake communities, and long-term demand for waterfront homes.
Lake Minnetonka: The Premier Lake Market
Lake Minnetonka is widely considered the premier lake market in Minnesota.
The lake spans more than 14,500 acres with over 120 miles of shoreline, making it one of the largest and most complex lake systems in the state.
Communities such as Wayzata, Deephaven, Excelsior, and Tonka Bay offer a wide range of waterfront homes, from historic estates to newly built luxury properties.
Because of its size, boating culture, and proximity to Minneapolis, Lake Minnetonka has long attracted executives, entrepreneurs, and families relocating to the Twin Cities.
Waterfront homes here typically range from roughly $2 million to well over $10 million, depending on the bay and property.
White Bear Lake: The Crown Jewel of the Northern Suburbs
White Bear Lake has developed a reputation as the crown jewel of the northern Twin Cities lake markets.
With over 2,300 acres of water, a historic sailing tradition, and a vibrant downtown, it offers a rare combination of lake living and small-town charm.
Many buyers are drawn to White Bear Lake because the community itself is centered around the lake. Restaurants, coffee shops, and seasonal events give the town a strong sense of identity.
Waterfront homes on White Bear Lake typically range from roughly $1 million to $5 million, with exceptional properties reaching higher.
You can explore the lake market here:
White Bear Lake Waterfront Homes
Lake Minnetonka Waterfront Homes
Prior Lake: One of the Strongest Lake Markets in the South Metro
Prior Lake has quietly become one of the strongest waterfront markets in the southern Twin Cities suburbs.
The lake is made up of Upper Prior Lake and Lower Prior Lake, with Lower Prior Lake covering roughly 880 acres and offering excellent water clarity compared with many metro lakes.
Boating and water recreation are popular here, and many buyers appreciate the balance between lake lifestyle and suburban accessibility.
Waterfront homes on Prior Lake generally range from approximately $900,000 to $4–5 million, depending on the property and location.
Because of its water quality and strong property values, Prior Lake is often considered one of the best lake opportunities outside of Lake Minnetonka.
Choosing the Right Lake
For buyers relocating to the Twin Cities, the choice between these lakes often comes down to lifestyle preferences.
Lake Minnetonka offers prestige, scale, and luxury waterfront estates.
White Bear Lake combines lake living with a vibrant town environment.
Prior Lake provides strong water quality and a growing waterfront community in the south metro.
Each lake offers a different experience, which is why many buyers spend time exploring several lakes before deciding where they want to live.
If you're exploring waterfront homes or simply curious about the Twin Cities lake market, I'm always happy to connect.
Many buyers and sellers also like to see examples of the types of waterfront properties we’ve represented across the northern suburbs.
View Past Waterfront Sales and Listings
You can also hear directly from past buyers and sellers who have worked with us:
If you're curious about lake homes or the northern suburbs lake market, you can learn more here:
You Might Also Enjoy
If you're exploring lake homes in the Twin Cities, these articles may also be helpful:
• White Bear Lake Waterfront Homes: What Buyers Should Know
• Should We Sell Our Lake Home or Keep It For The Kids?
• Why Waterfront Real Estate Requires a Different Strategy in Minnesota
Preparation creates leverage.
Relationships outlast transactions.
If you're exploring waterfront homes or simply curious about the market, I'm always happy to connect.
Tim Ornell
Ornell Group | Real Broker
Luxury & Waterfront Real Estate
Northern Twin Cities Lakes
ornellgroup.com
