Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Tonka Bay area can be challenging. Home prices in Tonka Bay are now at a median cost of $641,815, higher than the Minnesota average of $269,934.
The average cost of rent is $2,043/mo in Tonka Bay, primarily driven by the current value of real estate in the Tonka Bay area. While nearly 34.37% of residents own their homes outright in Tonka Bay, 13.88% rent.
Housing affordability isn’t just about home prices, though. The average household income in Tonka Bay is $11,013 per month. Households that rent pay about 18.55% of their income on rent here. Tonka Bay's most expensive areas are in the eastern regions, while the cheapest areas are in the central parts of the city.
Nearby Cities
- Excelsior, MN: equally priced homes
- Shorewood, MN: less expensive homes
- Minnetonka Beach, MN: higher priced homes
- Greenwood, MN: higher priced homes
- Spring Park, MN: less expensive homes
- Deephaven, MN: higher priced homes
- Mound, MN: less expensive homes
- Orono, MN: equally priced homes
- Chanhassen, MN: less expensive homes
- Woodland, MN: higher priced homes
Cities with Similar Populations
- Brokaw, WI: less expensive homes
- Tekonsha, MI: less expensive homes
- Vandalia, MI: less expensive homes
- Villisca, IA: less expensive homes
- Wadley, AL: less expensive homes
- Clear Lake, SD: less expensive homes
- Carson, VA: less expensive homes
- Blue Lake, CA: less expensive homes
- Blackduck, MN: less expensive homes
- Big Rock, IL: less expensive homes
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