Bovey, MN housing market
The typical Bovey home is worth about $146,000, up 2.8% in a year, 58% below the Minnesota typical home.
Home values, sales, trends and how Bovey compares with the towns next door — updated as new data is published.
Bovey at a glance
Only 2 sales in May 2026: in a market this size, monthly medians swing a lot, so the typical value above is the steadier guide.
Typical home value, 2016–2026
Show as a table
| January | Bovey | Minnesota |
|---|---|---|
| 2017 | $77,000 | $217,000 |
| 2018 | $79,000 | $232,000 |
| 2019 | $86,000 | $246,000 |
| 2020 | $89,000 | $259,000 |
| 2021 | $103,000 | $282,000 |
| 2022 | $123,000 | $313,000 |
| 2023 | $130,000 | $325,000 |
| 2024 | $129,000 | $331,000 |
| 2025 | $141,000 | $341,000 |
| 2026 | $144,000 | $349,000 |
| August 2026 | $146,000 | $351,000 |
No new homes permitted in 2025
No permits for new homes were issued in Bovey in 2025. The last year with any was 2023 (1 new home).
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Bovey gained 25 residents while 14 new homes were permitted: about 1.8 new residents per new home. Building and growth moved roughly in step. Across Minnesota: 2.2 new residents per new home.
Residents: U.S. Census Bureau, 2010 and 2020 censuses. New homes: permits issued 2010–2019.
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 0 | 0 | 0 | — |
| 2025 | 0 | 0 | 0 | — |
| 2024 | 0 | 0 | 0 | — |
| 2023 | 1 | 1 | 0 | $50,000 |
| 2022 | 0 | 0 | 0 | — |
| 2021 | 0 | 0 | 0 | — |
| 2020 | 0 | 0 | 0 | — |
| 2019 | 0 | 0 | 0 | — |
| 2018 | 0 | 0 | 0 | — |
| 2017 | 0 | 0 | 0 | — |
| 2016 | 0 | 0 | 0 | — |
| 2015 | 0 | 0 | 0 | — |
| 2014 | 0 | 0 | 0 | — |
| 2013 | 7 | 0 | 7 | $350,000 |
| 2012 | 7 | 0 | 7 | $350,000 |
| 2011 | 0 | 0 | 0 | — |
| 2010 | 0 | 0 | 0 | — |
| 2009 | 2 | 2 | 0 | $145,000 |
| 2008 | 3 | 3 | 0 | $335,000 |
| 2007 | 3 | 3 | 0 | $335,000 |
| 2006 | 8 | 3 | 5 | $540,000 |
| 2005 | 8 | 3 | 5 | $540,000 |
| 2004 | 3 | 3 | 0 | $300,000 |
| 2003 | 7 | 7 | 0 | $818,000 |
| 2002 | 9 | 9 | 0 | $1 million |
| 2001 | 3 | 3 | 0 | $332,000 |
| 2000 | 1 | 1 | 0 | $102,000 |
Bovey's permit office didn't report to the Census in 2025, so the 2025 figures are Census estimates.
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
Bovey and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Bovey | $146K | +2.8% | $1,110 | 0 | $64,083 |
| Coleraine | $213K | +2% | $1,110 | 4 | $74,716 |
| Taconite | — | +3.4%† | $1,100 | 0 | $84,375 |
| Trout Lake | — | +3.6%† | $1,110 | — | $71,136 |
† FHFA price index change, where Zillow has no home value for the town.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024 · figures for a place this size carry wide margins of error.
A two-bedroom rents for about $1,110
HUD's Fair Market Rent for a two-bedroom in Bovey is $1,110 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Bovey pay a median of $948, so moving in tends to cost more than staying put.
Studio $780 · 4 bedrooms $1,570
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (55709; Itasca County, MN), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.