Quick facts: Boyne city, MI

Quick Facts

94.9
Cost of Living
below US average
3,850
Population
9.35
Crime Rate per 1000
below US average
$65,070
Median Income
below US average
$360,000
Median House Price
above US average
$3266.67
Average Rent
above US average
Poverty rate Data is updating, will be available soon
Unemployment Data is updating, will be available soon

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $65,070.

🏠

Income Needed to Buy

βœ— Stretch
$113k/year
Based on $360,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $113k vs median $65,070
🏒

Income Needed to Rent

⚠ Stretch
$140k/year
Based on $3266.67/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $140k vs median $65,070
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Boyne city, MI

Boyne City is a charming small town located in northern Michigan, situated on the eastern shore of Lake Charlevoix. Known for its picturesque scenery, Boyne City boasts a rich history, vibrant community, and an array of outdoor recreational activities. The town is a gateway to numerous hiking and biking trails, including the popular Boyne Valley Trail, making it a favorite for nature enthusiasts. The downtown area features unique shops, cozy cafes, and local eateries that showcase the region's culinary delights. Boyne City is also famous for its farmers market, where residents and visitors alike can find fresh produce and handmade goods, fostering a strong sense of community. In the winter, the nearby ski resorts, such as Boyne Mountain, attract visitors looking for skiing and snowboarding opportunities. Additionally, events like the Boyne City Pirate Festival and the annual Stroll the Streets event highlight the town's spirited community engagement. With a population of around 3,700, Boyne City offers a peaceful, family-friendly atmosphere, making it an appealing destination for those seeking a blend of outdoor adventure and small-town charm.

πŸ” Search & Compare Places

First Location πŸ“