Living in Tonka Bay, Minnesota
Cost of living, income, home prices, rent and demographics of Tonka Bay · Census data 2020–2024
Tonka Bay has 1,270 residents with a median age of 59.8. The median household income is $156,458 (76% higher than the Minnesota median), the median home value is $917,100, the median rent is $2,320/month.
Tonka Bay is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Tonka Bay at a glance
- Population
- 1,270
- Median age
- 59.8State: 38.8
- Median household income
- $156,458State: $89,062
- Median home value
- $917,100State: $329,300
- Median rent
- $2,320/moState: $1,280
- Homeowners
- 81.4%
- Bachelor's degree or higher
- 63.3%
- Average commute
- 26 min
Is Tonka Bay a good place to live?
Pros: Median household income 76% higher than the Minnesota median; a poverty rate of 3.5%.
Cons: Home values 178% higher than the state median; an average commute of 26 minutes; unemployment of 9.7%.
The weather is best in June to September.
Cost of living in Tonka Bay
Housing is the biggest part of the cost of living. In Tonka Bay the median home value is $917,100, 176% higher than the U.S. median. Renters pay a median of $2,320 per month, which is 19.7% of household income. Homeowners with a mortgage pay $3,633 a month in housing costs.
Tonka Bay median household income
The median household income in Tonka Bay is $156,458 and the income per person is $122,757. 3.5% of residents live below the poverty line (Minnesota: 9.3%).
Housing in Tonka Bay: homes for sale and rent
- Housing units
- 629
- Owner-occupied
- 81.4%
- Renter-occupied
- 18.6%
- Vacant
- 11.1%Includes seasonal homes
- Median year built
- 1982
- Average household size
- 2.27
Tonka Bay demographics
- Population
- 1,270
- Median age
- 59.8
- Under 18
- 14.3%
- 65 and older
- 33.3%
- Households
- 559
- Foreign-born
- 3.6%
- Veterans
- 6.4%Adults 18+
Hispanic or Latino can be of any race. Population history of Tonka Bay ›
Education in Tonka Bay
63.3% of adults 25 and older in Tonka Bay have a bachelor's degree or higher (Minnesota: 39.4%), and 24% have a graduate or professional degree.
Jobs and commute in Tonka Bay
- Unemployment rate
- 9.7%State: 4.1%
- Average commute
- 26 minState: 23 min
- Work from home
- 39.9%
- Drive alone
- 56.5%
- Public transit
- 1%
- Walk to work
- 0.6%
- Homes with broadband
- 96.8%
Tonka Bay vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Tonka Bay | 1,270 | $156,458 | $917,100 | $2,320 |
| Shorewood | 7,647 | $171,063 | $703,200 | $1,607 |
| Excelsior | 2,570 | $103,068 | $909,200 | $1,143 |
| Greenwood | 699 | $215,278 | $1,240,400 | $1,885 |
| Village of Minnetonka Beach | 469 | $250,001 | $2,000,001 | — |
| Spring Park | 1,896 | $48,315 | $661,600 | $1,241 |
| Deephaven | 3,793 | $197,679 | $935,900 | — |
| Orono | 8,195 | $173,527 | $1,004,500 | $1,818 |
| Mound | 9,107 | $86,675 | $370,800 | $1,098 |
More for people moving to Tonka Bay
Tonka Bay ZIP code ›Weather and climate ›Living in Tonka Bay: FAQ
What is the median household income in Tonka Bay, MN?
The median household income in Tonka Bay is $156,458, 76% higher than the Minnesota median of $89,062 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Tonka Bay?
The median home value in Tonka Bay is $917,100, compared with $329,300 in Minnesota.
How much is rent in Tonka Bay?
The median gross rent in Tonka Bay is $2,320 per month, about 19.7% of household income.
Is Tonka Bay, MN a good place to live?
Pluses: median household income 76% higher than the Minnesota median; a poverty rate of 3.5%. Minuses: home values 178% higher than the state median; an average commute of 26 minutes; unemployment of 9.7%.
What is the median age in Tonka Bay?
The median age in Tonka Bay is 59.8 years (Minnesota: 38.8).
How long is the commute in Tonka Bay?
The average commute to work in Tonka Bay is 26 minutes; 39.9% of workers work from home.
What is the unemployment rate in Tonka Bay?
The unemployment rate in Tonka Bay is 9.7% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Tonka Bay?
63.3% of adults in Tonka Bay have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
Last updated: