2026 data · 1.33% property tax · Median home $210,100
Michigan Mortgage Calculator
A median-priced home in Michigan ($210,100) costs roughly $1,458 per month all-in (PITI), assuming 20% down and a 30-year fixed at 7.0%. Michigan's effective property tax rate is 1.33% — close to the US average of about 1.0%.
Michigan median-home monthly payment
$1,458/mo
P&I $1,118 · Tax $233 · Insurance $107
@ $210,100 price, 20% down, 30-yr fixed at 7.0%
For a custom calculation with your specific numbers (different down payment, rate, term, or home price), use the main mortgage calculator — it includes a full amortization schedule.
Monthly payments at common home prices in Michigan
| Home price | 20% down | P&I | Prop tax | Insurance | Total PITI/mo |
|---|---|---|---|---|---|
| $200,000 | $40,000 | $1,064 | $222 | $102 | $1,388 |
| $210,100 (state median) | $42,020 | $1,118 | $233 | $107 | $1,458 |
| $300,000 | $60,000 | $1,597 | $333 | $153 | $2,082 |
| $400,000 | $80,000 | $2,129 | $443 | $203 | $2,776 |
| $500,000 | $100,000 | $2,661 | $554 | $254 | $3,470 |
| $750,000 | $150,000 | $3,992 | $831 | $381 | $5,204 |
Calculations use Michigan's 1.33% effective property tax rate, estimated homeowners insurance at 0.61%/year of home value, 30-year fixed at 7.0%, no PMI (20% down). Closing costs not included.
Michigan property tax
Effective rate
1.33%
Median home value
$210,100
Median property tax
$2,754/yr
Michigan's Headlee Amendment limits property tax increases. Principal Residence Exemption removes school operating millage (typically 18 mills) for owner-occupied homes — significant savings.
See our property tax calculator for a state-by-state property tax breakdown, and our Michigan paycheck calculator to estimate take-home pay against this monthly housing cost.
Michigan vs neighboring states
| State | Property tax rate | Median home | Median tax/yr | |
|---|---|---|---|---|
| Michigan (this page) | 1.33% | $210,100 | $2,754 | |
| Wisconsin | 1.63% | $231,200 | $3,796 | Wisconsin mortgage → |
| Indiana | 0.79% | $190,000 | $1,478 | Indiana mortgage → |
| Ohio | 1.36% | $204,200 | $2,770 | Ohio mortgage → |
FAQs about Michigan mortgages
What is the property tax rate in Michigan?
Michigan's effective property tax rate is 1.33%, meaning the average homeowner pays roughly 1.33% of their home's value in property tax annually. On a $210,100 home (the state median), that's about $2,754 per year, or $230 per month added to your mortgage payment.
What is the average monthly mortgage payment in Michigan?
For a home at Michigan's median value of $210,100, assuming 20% down, a 30-year fixed mortgage at 7.0%, and Michigan's 1.33% property tax + estimated insurance, the typical monthly PITI payment is approximately $1,458. This includes $1,118 principal & interest, $233 property tax, and $107 homeowners insurance.
How much income do I need to buy a house in Michigan?
Using the standard 28% front-end DTI rule, you'd need annual income of approximately $62,486 to comfortably afford Michigan's median-priced home. Lenders typically allow up to 43% total DTI (including all debts), which corresponds to about $40,688 annual income at the maximum end. Your specific qualification depends on credit score, down payment, debts, and lender requirements.
Is Michigan a good state to buy a house?
Michigan's combination of 1.33% property tax (near the national average of ~1.0%) and median home value of $210,100 make it one of the more affordable states for homeowners. Michigan's Headlee Amendment limits property tax increases.
How does Michigan property tax compare to neighboring states?
Michigan's 1.33% rate compares to: Wisconsin at 1.63%, Indiana at 0.79%, Ohio at 1.36%. Property taxes can differ substantially between bordering states — moving 30 miles across a state line can change your annual tax bill by thousands.
Does Michigan have a homestead exemption?
Michigan offers various property tax relief programs. Michigan's Headlee Amendment limits property tax increases. Principal Residence Exemption removes school operating millage (typically 18 mills) for owner-occupied homes — significant savings. Check with your county assessor for primary-residence exemptions and senior/disabled programs that may reduce your annual property tax bill.
What's included in PITI?
PITI stands for Principal, Interest, Taxes, and Insurance — the four standard components of a mortgage payment. For your Michigan mortgage, the breakdown on a median-priced home would be: Principal & Interest $1,118, Property Tax $233, Homeowners Insurance $107. Add PMI if your down payment is under 20%, and HOA fees if your home is in a community with one.