The Most Affordable Neighborhoods in Beaver Bay, MN by Home Value

These days, finding an affordable place to live in the Beaver Bay area can be challenging. Home prices in Beaver Bay are now at a median cost of $238,692, lower than the Minnesota average of $345,793.

The average cost of rent is $884/mo in Beaver Bay, primarily driven by the current value of real estate in the Beaver Bay area. In Beaver Bay, 14.50% of households rent, and 49.36% of homeowners own their homes outright.

Housing affordability isn’t just about home prices, though. The average household income in Beaver Bay is $6,221 per month. Households that rent pay about 14.21% of their income on rent here. Beaver Bay’s most expensive areas are in the northern regions, while the cheapest areas are in the eastern parts of the city.

Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.

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