Home prices
The median home in Tonka Bay is valued at $661,400. In comparison to its surrounding areas this is roughly $55,160 (9%) higher.It is about $443,900 (204%) higher in comparison to the US as a whole, and compared to the city of Minneapolis is roughly $409,800 (162%) higher.
Rents
Tonka Bay's median monthly rent is $1,667. Compared to its nearby areas this is approximately $211 (14%) higher.It is approximately $605 (56%) higher in comparison to the United States as a whole, and is approximately $640 (62%) higher compared to the city of Minneapolis.
Nearby places
Shorewood
Shorewood is Tonka Bay's neighbor to the south. The real estate prices there are substantially less expensive. The cost of the median home in Shorewood is $485,300, which works out to $176,100 (36%) lower than Tonka Bay. Rents there are pretty similar. In Shorewood the median rent is $1,639 a month, which is $28 (1%) lower than Tonka Bay.
Excelsior
Excelsior is about 1 mile southeast from Tonka Bay. The housing prices there are a bit less expensive. The cost of the median home in Excelsior is $617,100, which is $44,300 (7%) lower than Tonka Bay. Its rents are significantly less expensive. Excelsior's median rent is $949 a month, which works out to $718 (75%) lower than Tonka Bay.
Greenwood
Greenwood is about 1 mile east of Tonka Bay. Its housing prices are a little more expensive. Greenwood's median home price is $933,100, which works out to $271,700 (29%) higher than Tonka Bay. Rents there are a little less expensive. In Greenwood the median rent is $1,400 per month, which works out to $267 (19%) lower than Tonka Bay.
Spring Park
Spring Park is approximately 2 miles northwest from Tonka Bay. Its housing prices are substantially less expensive. The median home value in Spring Park is $425,000, which is $236,400 (55%) lower than Tonka Bay. Rents there are significantly less expensive. Spring Park's median rent is $1,075 per month, which comes out to $592 (55%) lower than Tonka Bay.
Deephaven
Deephaven is roughly 2 miles east of Tonka Bay. Real estate prices there are a bit less expensive. The median home cost in Deephaven is $570,700, which is $90,700 (15%) lower than Tonka Bay. The rent there is somewhat more expensive. The median rent in Deephaven is $2,219 a month, which is $552 (24%) higher than Tonka Bay.
