
Jessica M. Jacobson
Keller Williams Premier Realty Lake Minnetonka
(844) 386-5004
17 Total Sales
3 in Tonka Bay
$1.6M - $3.4M Price Range
Suburban Neighborhood in Minnesota
Hennepin County 55331
A jewel on lovely Lake Minnetonka, tiny Tonka Bay is the smallest of the lakeside communities at just under one square mile. Only 20 miles west of downtown Minneapolis, this sleepy city somehow feels a world away from the hustle and bustle. Lake life is real in this luxury locale, an ideal home for outdoor enthusiasts and those seeking an active lifestyle in a picture-perfect setting. “We had a friend visit from out of state this summer, and she marveled, saying it was like we’re on vacation all the time,” says Tonka Bay City Council Member Tim Connelly. “And that’s how it feels to a large extent, particularly in the summer, because we’re out on the lake every day soaking up the sun.”
Incorporated in 1901, history had already been made by that time in Tonka Bay. In 1864, noted Horticulturist Peter Gideon claimed 160 acres of what is now the city and propagated the Wealthy apple, which can survive the notorious Minnesota winters and was named after his wife. His community contributions led to the naming of Gideon Bay, which still exists today. In 1908, the Minnetonka Boat Club on Echo Bay drew people in droves. That would eventually become the Tonka Bay Marina, the largest full-service marina on Lake Minnetonka, built on the site of the historic Tonka Bay Hotel.
Tonka Bay is a coveted and exclusive community, and the highly competitive real estate market reflects that. Buyers on a budget beware – the 12-month median price was $1.8 million in October 2023. There is limited inventory under $1 million, with lakefront home prices that can climb as high as $6 million. “We have a high percentage of homes on the lake because we’re kind of a peninsula, so that drives up the cost,” Connelly says. Tonka Bay’s earliest homes were built around the turn of the 20th century, but construction has stayed slow and steady, with an average of about 50 homes built or rebuilt every decade since 1970. “In terms of our housing stock, we’re pretty well built out now, and redevelopment is the only opportunity,” Connelly says. “Aside from a small parcel of town houses that are being built, what we have is what we have.”
Families with children in Tonka Bay are served by the Minnetonka Public School District, named the second-best district in Minnesota by Niche in 2023. "A Minnetonka education is on par with, and in many cases superior to, a more expensive private education," Connelly says. Students may start their education at Minnewashta Elementary School in nearby Shorewood. The school offers the state’s premier Spanish language immersion program beginning in kindergarten. Minnetonka West Middle School in Chaska was named a National Blue Ribbon School in 2021 and recognized for outstanding commitment to music education in 2022. At Minnetonka Senior High School in Minnetonka, at least 68% of students are proficient in math and 80% in reading.
Primarily residential and quiet by design, Tonka Bay has limited commercial development. “If you need groceries or want to spend a night on the town, you’re probably going to Excelsior,” Connelly says. But there are a few entertainment and dining destinations within city borders. Famously warm and rustic, Caribou Coffee on Manitou Road is a national chain java joint known for its signature drinks and breakfast options. Next door is Hazelwood Food and Drink, a well-known local chain with four locations in the Twin Cities. Known for delicious and fresh modern comfort food, this trendy venue is open seven days a week and is a popular breakfast and brunch spot on the weekends. Outdoor patio seating in the summer months is spacious and lush, boasting plentiful planters potted with vibrant flowers. Country Club Lanes is the perfect place for a neighborhood meetup or birthday party.
Rich in waterfront, Tonka Bay’s beautiful surroundings include expansive green spaces, public parks and plenty of water access. “It’s kind of neat to just have wildlife in your backyard,” Connelly says. “We see a lot of deer and the occasional fox, then you’ve got owls hooting at you from the trees.” Situated on Echo Bay, Tonka Bay Marina sits adjacent to Wekota Beach and Park. “Manitou Park is our flagship park, and we’re redoing that right now,” Connelly says. “We put in a new baseball field, and we’re going to put in another baseball field, a playground with a new play structure, and a hockey rink with a warming house.”
Tonka Bay is already a destination for prospective new residents, but the city’s forward-facing vision for the future makes it an even more attractive locale. “The big project in town right now is the replacement of our water main,” Connelly says. “We’re investing millions of dollars and trying to improve our infrastructure.” The city then plans to resurface every road in town, starting at the south end and working its way north. “It’s not the sexiest things you can put your money into, but they will enhance our quality of life for many years to come,” Connelly says. “That’s kind of where we are as a city right now.”
Jessica M. Jacobson
Keller Williams Premier Realty Lake Minnetonka
(844) 386-5004
17 Total Sales
3 in Tonka Bay
$1.6M - $3.4M Price Range
Pete Ice
Edina Realty, Inc.
(952) 222-0221
126 Total Sales
1 in Tonka Bay
$650,000 Price
RP
Rhonda Pahl
Shortlist Properties LLC
(612) 441-2258
61 Total Sales
2 in Tonka Bay
$669K - $1.1M Price Range
Julie Regan
Lakes Sotheby's International Realty
(651) 867-2163
173 Total Sales
2 in Tonka Bay
$1.2M - $3.9M Price Range
Tony Sarenpa
Keller Williams Premier Realty Lake Minnetonka
(952) 222-0952
304 Total Sales
2 in Tonka Bay
$1,250,000 Price Range
Timothy Beduhn
Coldwell Banker Realty
(612) 448-3542
120 Total Sales
1 in Tonka Bay
$3,900,000 Price
Interested in learning more about homes in this area? Reach out to
, an experienced agent in this neighborhood.1 - Low Crime, 10 - High Crime | Tonka Bay | US |
---|---|---|
Homicide | 1 | 4 |
Sexual Assault | 1 | 4 |
Assault with Weapon | 1 | 4 |
Robbery | 1 | 4 |
Burglary | 1 | 4 |
Motor Vehicle Theft | 1 | 4 |
Larceny | 1 | 4 |
Crime Score | 1 | 4 |
Source: WhatIsMyCrimeRisk.com
On average, homes in Tonka Bay, MN sell after 48 days on the market compared to the national average of 47 days. The average sale price for homes in Tonka Bay, MN over the last 12 months is $1,692,951, down 5% from the average home sale price over the previous 12 months.
Interested in learning more about homes in this area? Reach out to
, an experienced agent in this neighborhood.Bike Score®
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