Excelsior packs a downtown, a beach, and a mix of historic cottages, mid-century homes, and newer builds into a very small footprint on the south shore of Lake Minnetonka. It's a favorite spot for retirees who want walkability without a downtown high-rise.
The Excelsior housing market
Median home values in Excelsior sit in the mid-$500s to low-$700s, with lakefront and Water Street proximity pushing well higher. Inventory is chronically tight, which has supported strong appreciation for long-term owners.
Reverse mortgages in Excelsior
Many Excelsior retirees use a HECM to eliminate a remaining mortgage and stay in a walkable community they love. Higher-value lakefront homes may qualify for jumbo reverse programs.
For the statewide rules, counseling requirements and 2026 lending limits, read the Minnesota reverse mortgage guide, or see the Hennepin County reverse mortgage guide. New to the program? Start with what is a reverse mortgage.
Neighborhoods
- Downtown Excelsior
- Water Street
- Old Excelsior
- Deephaven border
Loan options for Excelsior
- Reverse Mortgage (HECM)
- Jumbo Reverse
- HECM for Purchase
- Conventional & Jumbo
- Refinance
Attractions & landmarks
- Excelsior Commons & Beach
- Water Street
- Old Log Theatre (nearby)
- Lake Minnetonka
Schools
Served by Minnetonka Public Schools (ISD 276), one of the top-performing districts in Minnesota.