HomeRule

Cost of homeownership in Michigan

State averages from Census ACS, energy costs from DOE EIA, and appreciation from FHFA. County-level detail is below.

Avg home value
$168,482
Avg property tax
$2,018
Homeownership rate
79.5%
1yr appreciation
5.5%

Home price trend

FHFA House Price Index, quarterly.

Most expensive counties

  1. 1.Leelanau County$371,200
  2. 2.Washtenaw County$336,300
  3. 3.Livingston County$311,800
  4. 4.Oakland County$302,800
  5. 5.Grand Traverse County$273,300
  6. 6.Ottawa County$269,200
  7. 7.Emmet County$246,300
  8. 8.Benzie County$243,600
  9. 9.Kent County$242,200
  10. 10.Clinton County$226,000

Most affordable counties

  1. 1.Keweenaw County14.1%
  2. 2.Dickinson County14.2%
  3. 3.Houghton County14.3%
  4. 4.Baraga County14.3%
  5. 5.Schoolcraft County14.3%
  6. 6.Presque Isle County14.4%
  7. 7.Gogebic County14.5%
  8. 8.Chippewa County14.6%
  9. 9.Huron County14.6%
  10. 10.Ontonagon County14.6%
Avg electricity
20.0¢/kWh

DOE EIA residential average.

Avg annual energy cost
$2,161

Residential baseline.

Avg mortgage interest deduction
Pending

IRS SOI, state-level avg.

All counties in Michigan

Frequently asked questions

How much does it cost to own a home in Michigan?

Based on Census ACS, the state average home value in Michigan is $168,482, with median annual property tax around $2,018. Your actual cost depends on county and property.

What is the property tax in Michigan?

Property tax rates vary by county. Michigan's state average sits at roughly $2,018 per year on a median home. See county-level pages for local rates.

How fast are home prices appreciating in Michigan?

FHFA House Price Index data shows Michigan appreciating 5.5% over the last year and 47.8% over the last five years.

Is homeownership high in Michigan?

Michigan's homeownership rate is 79.5% (Census ACS). The share of owner-occupied units varies widely across counties.

Data sources

Disclaimer. HomeRule is not a real estate agent, lender, appraiser, or financial advisor. This content is for educational and informational purposes only. Actual costs vary significantly by property, location, and individual circumstances. Consult qualified professionals for personalized advice.