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Advertise here →Tonka Bay, MN · Market Data
Tonka Bay, Minnesota real estate market data.
Real estate market data for Tonka Bay, MN (Hennepin County) — Census median home value $869,900, county listing prices down about 1.0% over the past year.
Tonka Bay, MN is in Hennepin County, Minnesota — covering the whole local market here: resale homes, condos, land, and new construction. The most recent Census estimate puts the population at 1,361, with a median household income of $151,563. Census data puts Tonka Bay's median home value at $869,900 (all owner-occupied homes); Hennepin County's current median listing price runs $418,023, down about 1.0% over the past year.
At a glance
Tonka Bay market snapshot
Population
1,361
Median Household Income
$151,563
Median Home Value (city)
$869,900
Median Listing Price (Hennepin County)
$418,023
Median Gross Rent
$2,299/mo
Price Trend (YoY)
-1.0%
Market data compiled from public sources; deemed reliable but not guaranteed; verify independently. Full source list ↗
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What makes Tonka Bay different
Home Value, By Source
The Census Bureau's American Community Survey (2023 5-year estimate) puts Tonka Bay's median home value — across all owner-occupied homes, not just recent sales — at $869,900. Separately, Hennepin County's current median listing price (via Realtor.com data, 2026-06-01) runs $418,023. These cover different geography (city vs. county) and different measures (assessed value vs. active listings), which is why we show both rather than picking one — full source list on our data sources page.
County Price Trend
Hennepin County's FHFA house price index shows a 3.01% annual change in 2025.
Population & Income
Tonka Bay has an estimated population of 1,361 and a median household income of $151,563, per the Census Bureau's American Community Survey (2023 5-year estimate).
Affordability Snapshot
Tonka Bay's Census-reported median home value works out to about 5.7x the area's median household income, and median gross rent runs roughly 18% of that same income on an annualized basis. Housing economists commonly flag a price-to-income ratio above 4x as historically elevated -- useful context, not a personal affordability verdict.
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Common questions
Tonka Bay FAQ
What are home values like in Tonka Bay, MN?
The Census Bureau's American Community Survey puts Tonka Bay's median home value at $869,900. Hennepin County's current median listing price runs $418,023, down about 1.0% over the past year.
What is the population of Tonka Bay, MN?
The U.S. Census Bureau's American Community Survey (2023 5-year estimate) puts Tonka Bay's population at approximately 1,361.
What's the median rent in Tonka Bay, MN?
The Census ACS estimates median gross rent in Tonka Bay at approximately $2,299 per month.
What is the median household income in Tonka Bay, MN?
Census ACS data puts the median household income in Tonka Bay at approximately $151,563.
Is the Tonka Bay housing market growing?
Hennepin County's FHFA house price index shows a 3.01% annual change in 2025.
Is Tonka Bay, MN affordable relative to income?
Census ACS data puts Tonka Bay's median home value at about 5.7 times the median household income, with median gross rent equal to roughly 18% of that income annually. This is a general benchmark, not a personal pre-qualification -- your own income, debt, and down payment determine what you can actually afford.
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