A Lake Minnetonka-area ZIP code muscled its way onto the national stage this week, landing sixth on a list of the country's hottest housing markets. The callout puts ZIP code 55356, the Long Lake-Orono corridor that clips parts of Medina and hugs stretches of Lake Minnetonka, squarely in the spotlight as buyers chase waterfront access and high-performing suburban schools.
As reported by Minneapolis/St. Paul Business Journal, ZIP code 55356, placed sixth nationwide on the latest ranking. Mapping sites show that 55356 covers Long Lake, Orono, and some homes in Medina, according to ZipDataMaps.
Market by the numbers
Listing snapshots point to eyebrow-raising asking prices. According to Realtor.com, the median asking price in 55356 is roughly $1.38 million, with about 43 active listings and a median days-on-market near 58. Those figures reflect what sellers hope to get, not necessarily what buyers ultimately pay.
Sales metrics and luxury listings
Closed-sale numbers tell a more nuanced story. Redfin reports a median sale price of $677,159 for 55356 in April 2026, showing how timing and the mix of homes that actually close can push averages around. At the same time, Redfin’s market page features multiple multi-million-dollar waterfront properties currently on the market, including listings above $7 million and one over $14 million, underscoring just how wide the price bands run inside this single ZIP code.
Where this fits in the national picture
The 55356 ranking tracks with a broader spring pattern of buyers favoring inland suburbs and lifestyle perks over the priciest coastal metros. Reporting on Redfin’s national findings, Fortune noted that Midwest neighborhoods have dominated recent "hottest" lists as shoppers chase value, outdoor amenities and a little more breathing room.
What it means for buyers and sellers
For sellers in 55356, the national buzz functions as ready-made marketing and can help support premium price tags for scarce lakefront parcels. For buyers, it is a flashing signal that competition will likely stay fierce for a relatively narrow slice of waterfront homes and access to top-rated Orono schools. As Minneapolis/St. Paul Business Journal notes, Lake Minnetonka communities routinely deliver some of the Twin Cities' priciest annual sales.
