4407 Wilshire Blvd
MoundMN55364
Cheap Homes for Rent in Tonka Bay, MN from $1,600 (5 Rentals)
Search the lowest-cost Homes available for rent right now in Tonka Bay.
13570 Technology Dr.
Eden PrairieMN55344
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.
7689 Nicholas Way
ChanhassenMN55317
4887 Edgewater Dr
MoundMN55364
Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between
Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.
8347 Kimball Dr
Eden PrairieMN55347
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Tonka Bay, MN Local Guide
Lake Minnetonka by m01229 is licensed under CC BY 2.0
How much does it cost to rent a home in Tonka Bay?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Tonka Bay 2 Bedroom Homes for Rent | $2,094 | $1,775 | $2,500 |
| Tonka Bay 3 Bedroom Homes for Rent | $4,145 | $1,624 | $7,500 |
| Tonka Bay 4 Bedroom Homes for Rent | $5,947 | $2,750 | $8,995 |
| Tonka Bay 5 Bedroom Homes for Rent | $5,918 | $3,600 | $9,500 |
| Tonka Bay 6 Bedroom Homes for Rent | $11,247 | $7,500 | $10,000+ |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
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Tonka Bay, MN Local Guide
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Cheapest Available Tonka Bay Apartments for Rent and Nearby
The cheapest available apartment rental in Tonka Bay, MN is a Studio unit found at Hunters Ridge in the Glen Lake neighborhood priced from $1,085. Bayview Apartments in the Outlying Hennepin Far Western Suburbs neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $1,100. Here is today’s list of the most affordable Tonka Bay apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Hunters Ridge | Crystal | Studio,1BA | $1,085 |
| Bayview Apartments | Studio | Studio,1BA | $1,100 |
| 3455 Shoreline Dr | 1 Bed/1 Bath | 1BR,1BA | $1,125 |
Best Value Apartments for Rent in Tonka Bay, MN and Nearby
As of May 07, 2026 the best value apartment in the Tonka Bay area is the $1.55 price per square foot Floorplan A Model at Highland Shores Apartments in the in the The Preserve neighborhood starting from $1,925. The second greatest value Tonka Bay apartment is the 2C - 2 Bedroom Corner Model at Heritage Park Apartments starting at $1,855 with a $1.94 price per square foot in the Pinehurst neighborhood. Here is today’s list of the best values for Tonka Bay apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Highland Shores Apartments | Floorplan A | 2BR,2BA | $1.55 |
| Heritage Park Apartments | 2C - 2 Bedroom Corner | 2BR,2BA | $1.94 |
| Langdon Lake Apartments | 1 BR/1 BA | 1BR,1BA | $1.36 |
| Lake Susan Apartments | Oak | 1BR,1BA | $1.99 |
| Lakecrest Village | 1 Bedroom 1 Bathroom | 1BR,1BA | $1.64 |
| Stratford Wood | Timberland | 1BR,1BA | $1.93 |
| Shorewood Place Apartments | 1 Bedroom | 1BR,1BA | $1.71 |
| Christmas Lake Manor Apartments | One Bathroom/ One Bedroom | 1BR,1BA | $1.69 |
| 3455 Shoreline Dr | 1 Bed/1 Bath | 1BR,1BA | $1.69 |
| Hunters Ridge | Crystal | Studio ,1BA | $1.93 |
Don't Settle: How to Negotiate Your Apartment Lease and Save Money
Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.
Read Article
Enjoy Twin Cities Campus Life: Top Minneapolis Neighborhoods for Student Renters
Discover the best Minneapolis neighborhoods for student renters! Find ideal apartments near major Twin Cities campuses & enjoy vibrant student life.
Read ArticleReal Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University
From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.
Read ArticleQuick Rent Budget Calculator
How much rent can you afford?
The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.
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Frequently Asked Questions about Tonka Bay
What type of rentals are currently available in Tonka Bay?
There are currently 60 Apartments for Rent in Tonka Bay, MN with pricing that ranges from $1,055 to $8,950. There are also 32 Single Family Homes for rent, Condos, and Townhome rentals currently available in Tonka Bay ranging from $1,624 to $14,995.
What is the current price range for Rental Homes in Tonka Bay?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Tonka Bay ranges from $1,624 to $14,995 with an average monthly rent of $5,870.
Expert Rental Resources
The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.
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A Local Expert’s Guide To the Top 10 Budget-Friendly Neighborhoods to Rent in Minneapolis
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I'm Stephanie, your ApartmentHomeLiving.com Local Expert for Minneapolis, MN. I've lived in Minnesota all my life, save for a brief stint in Wisconsin.
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I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.
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This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.
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Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.