Bovey, MN vs Winsted, MN

Bovey is moderately more affordable than Winsted, with a 12.9% lower cost of living index. Bovey scores 68 compared to 78 for Winsted, where the US average is 100. This difference means residents of Winsted can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Bovey is $850/month compared to $797/month in Winsted — a 7% difference. Interestingly, home values tell a different story: while Winsted has cheaper rent, Bovey actually has lower median home values ($103,400 vs $210,200).

Median household income in Bovey is $67,500 compared to $70,208 in Winsted (-3.9%). Winsted does offer higher incomes, but the salary premium barely offsets the higher cost of living, leaving residents with a tighter budget. Looking at affordability, residents of Bovey spend roughly 15.1% of their income on rent, more than the 13.6% in Winsted.