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Boyne Falls

Learn about the people, housing, costs and businesses in Boyne Falls, Michigan

Median Home$234,616
Median Rent$946/month
Population355
Leading IndustriesRetail · Wholesale Trade · Education22% retail
Home Value Growth⬆⬆⬆+30.3% over 2 years
Young Adults27% of residentsnear the national average
Homeowners92% of occupied units
NotableVeteran Community10% of residents · top 14% nationally
Boyne Falls
MI

Frequently Asked Questions

What are today's mortgage rates in Boyne Falls?

As of today, the 30-year fixed mortgage rate for Boyne Falls is approximately 6.885% (6.921% 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 Boyne Falls?

The median home value in Boyne Falls is $235k. The median monthly rent is $946. Annual property taxes average $2k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Boyne Falls?

Home values in Boyne Falls have increased 30.3% 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 Boyne Falls?

Based on a typical all-in ownership cost of $868/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $37k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Boyne Falls is $80k/year.

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What industries drive the economy in Boyne Falls?

The largest employment sectors in Boyne Falls are retail (22%) and public administration (19%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.