Get & compare mortgage quotes anonymously Start in My Home

Safe Rate Local

Bovey

Learn about the people, housing, costs and businesses in Bovey, Minnesota

Median Home$160,823
Median Rent$855/month
Population822
Leading IndustriesManufacturing · Retail · Agriculture & Mining4% manufacturing
Home Value Growth⬆⬆+11.5% over 2 years
Retirees21% of residentsnear the national average
Homeowners85% of occupied units
Bovey
MN

Frequently Asked Questions

What are today's mortgage rates in Bovey?

As of today, the 30-year fixed mortgage rate for Bovey is approximately 7.105% (7.151% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

View current rates for Bovey
What is the median home price in Bovey?

The median home value in Bovey is $161k. The median monthly rent is $855. Annual property taxes average $2k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Bovey?

Home values in Bovey have increased 11.5% 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 Bovey?

Based on a typical all-in ownership cost of $951/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $41k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Bovey is $70k/year.

Calculate your buying power
What industries drive the economy in Bovey?

The largest employment sectors in Bovey are public administration (26%) and retail (18%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.