It has been classified by the Metropolitan Council as a primary arterial street.

Highway 242 originally served as an east–west route between the cities of Anoka, Coon Rapids, and Blaine.

[4] Highway 242 was authorized on July 1, 1949[1] and was paved when it was marked.

[6] On June 15, 2007, Highway 242 was transferred from the State of Minnesota to Anoka County maintenance.

It is now an extension of County State Aid Highway (CSAH) 14.