Bovey, MN is a small rural city located in Northern Minnesota. It is home to several local businesses such as Bovey Grocery Store, Minnesota Milk Company, and Bluhm Construction. The cost of living in Bovey is relatively low compared to the US. 2 Bedroom Rent in Bovey is $940 which is much cheaper than the US average of $1,430. Additionally, the grocery cost index in Bovey is 97 versus 100 in the US meaning groceries are cheaper than other parts of the country. All of these aspects make living in Bovey attractive to those who are looking for a lower cost of living without sacrificing necessary amenities.
Bovey has an unemployment rate of 6.2%. The US average is 6.0%.
Bovey has seen the job market increase by 2.3% over the last year. Future job growth over the next ten years is predicted to be 20.5%, which is lower than the US average of 33.5%.
Tax Rates for Bovey
- The Sales Tax Rate for Bovey is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Bovey is 7.1%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Bovey
- The average income of a Bovey resident is $19,241 a year. The US average is $28,555 a year.
- The Median household income of a Bovey resident is $56,111 a year. The US average is $69,021 a year.