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Beaver Bay

Learn about the people, housing, costs and businesses in Beaver Bay, Minnesota

Median Home$175,000
Median Rent$1,137/month
Population116
Leading IndustriesManufacturing · Agriculture & Mining · Professional Services8% manufacturing
Home Value Growth⬆⬆⬆+30.1% over 2 years
Retirees32% of residentstop 5% nationally
Homeowners84% of occupied units
Beaver Bay
MN

Frequently Asked Questions

What are today's mortgage rates in Beaver Bay?

As of today, the 30-year fixed mortgage rate for Beaver Bay is approximately 6.965% (7.004% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Beaver Bay?

The median home value in Beaver Bay is $175k. The median monthly rent is $1,137. Annual property taxes average $1k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Beaver Bay?

Home values in Beaver Bay have increased 30.1% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Beaver Bay?

Based on a typical all-in ownership cost of $785/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $34k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Beaver Bay is $70k/year.

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What industries drive the economy in Beaver Bay?

The largest employment sectors in Beaver Bay are public administration (21%) and agriculture and mining (10%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.