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New Report Fall 2026 Housing Affordability Report: every state is less affordable than in late August as average 30-year mortgage rates passed 7%. Read the report

Tonka Bay, MN Housing Affordability Index

Tonka Bay, Minnesota has an MBR Housing Affordability Index score of 73.5 (Moderately Less Affordable) as of October 30, 2026, ranking 802nd most affordable of 809 scored Minnesota cities, compared with 97.5 statewide and 97.4 nationally. On a median-priced $917,100 home with 20% down, the Minnesota average 30-year fixed rate of 7.27% means a monthly principal and interest payment of about $5,013, or 38% of the city’s $156,458 median household income.

The MBR Housing Affordability Index (MBR-HAI) for Tonka Bay is updated every night from live Minnesota mortgage rates and U.S. Census Bureau income, home value and housing cost data for the city. A score of 100 equals the national average; higher scores mean homeownership is more affordable.

Tonka Bay MBR-HAI 73.5 Moderately Less Affordable
Rank in Minnesota 802 of 809 1 = most affordable
Minnesota 97.5 Statewide score
National 97.4 100 = baseline
Avg 30-yr rate 7.27% Minnesota lenders
Median home value $917,100 U.S. Census Bureau

Tonka Bay is 24.0 points below the Minnesota score. Scores as of October 30, 2026. See the Minnesota index

View Tonka Bay Mortgage Rates

What It Takes to Buy in Tonka Bay

$5,013/mo
Principal & Interest
Median home, 20% down, 7.27%
$214,800
Income Needed
To keep the payment at 28% of income
$156,458
Median Household Income
Minnesota: $89,062
5.9x
Price-to-Income Ratio
Minnesota: 3.7x
$2,828/mo
Median Owner Costs
Mortgage, taxes, insurance, utilities
$8,833/yr
Median Property Tax
0.96% of median value
35.7%
Owner Cost Burden
Owners spending 30%+ of income on housing
31.7%
Renter Cost Burden
Renters spending 30%+ of income on rent

Source: U.S. Census Bureau American Community Survey 5-Year Estimates (2024) for Tonka Bay, Minnesota. The rate is the Minnesota average 30-year fixed rate from MonitorBankRates, since lenders publish rates by state.

How Tonka Bay Ranks in Minnesota

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Cite the Tonka Bay Score

“MonitorBankRates (MBR) Housing Affordability Index, MonitorBankRates.com, October 30, 2026. Tonka Bay, Minnesota score: 73.5 (Moderately Less Affordable), ranked 802 of 809 Minnesota cities. monitorbankrates.com/housing-affordability-index/minnesota/tonka-bay”