Bovey, MN
Population 690 · Minnesota
About Bovey, MN
Bovey is a small community located in Minnesota with a population of 690 residents according to the latest US Census Bureau American Community Survey data. The median household income is $67,500 per year, which is 10% below the national median of $75,149. The median age of 29.7 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Bovey features a median home value of $103,400, which is 58% below the national median of $244,900. This makes Bovey one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $850, 27% below the national average of $1,163/month. Of the 313 total housing units, 65% are owner-occupied (174 units) and 35% are renter-occupied (94 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Bovey shows an unemployment rate of 0.0%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 13.3%, above the national average of 12.4%. Workers in Bovey have an average one-way commute time of 22.1 minutes.
Education & Demographics
11.7% of Bovey residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 0.6% White, 2.6% Hispanic or Latino, 0.0% Black or African American, and 1.6% Asian residents, with 1.2% of the population being foreign-born.
Cost of Living in Bovey, MN
Compared to national averages, Bovey has a median household income of $67,500 (10% below the national median of $75,149). Home values average $103,400, which is 58% below the national median. Monthly rent at $850 is 27% below the US average of $1,163. Within Minnesota, Bovey's income is 9% below the state average of $74,221, and home values are 49% below the state median of $204,472.
Why Live in Bovey, MN?
Bovey offers affordable housing with a median home value of $103,400, below the US average of $244,900, and rent that’s lower than the national average at $850/month, and a strong job market with an unemployment rate of just 0.0%. Additionally, the city features short commute times averaging just 22.1 minutes.
Potential considerations include median household income ($67,500) that falls below the national average. However, Bovey’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Bovey has a population of 690 with a median age of 29.7 years. Compare Bovey with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Bovey
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Warsaw | 690 | $115,313 | $255,000 | Compare |
| Greenbush | 685 | $58,438 | $131,700 | Compare |
| Stockton | 684 | $83,438 | $229,000 | Compare |
| Clarks Grove | 683 | $69,792 | $132,800 | Compare |
| Lake Benton | 698 | $52,000 | $91,900 | Compare |
| Clarissa | 700 | $45,500 | $104,000 | Compare |
| Hokah | 673 | $60,313 | $184,900 | Compare |
| Hoffman | 708 | $47,000 | $127,700 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Minnesota
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Bovey With Other Cities
Frequently Asked Questions about Bovey
What is the population of Bovey, MN?
The population of Bovey, MN is 690 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Minnesota.
What is the median household income in Bovey?
The median household income in Bovey, MN is $67,500 per year, which is 10% below the national median of $75,149.
What is the median home value in Bovey?
The median home value in Bovey, MN is $103,400, which is 58% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Bovey?
The median monthly rent in Bovey, MN is $850, which is 27% below the national average of $1,163/month.
What is the unemployment rate in Bovey?
The unemployment rate in Bovey, MN is 0.0%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Bovey, MN a good place to live?
Bovey offers a moderate cost of living, affordable housing, and a strong job market. With a population of 690 and a median age of 29.7, the city appeals to young professionals and families.
How educated is Bovey, MN?
11.7% of residents in Bovey aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Bovey?
Key cost-of-living indicators for Bovey, MN: median home value is $103,400 (58% below national), median rent is $850/month, and median household income is $67,500. The home-value-to-income ratio is 1.5x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Bovey?
The poverty rate in Bovey, MN is 13.3%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Bovey, MN?
Bovey's population is 0.6% White, 2.6% Hispanic or Latino, 0.0% Black or African American, 1.6% Asian, and 0.6% two or more races. 1.2% of residents are foreign-born.