Michigan Affordability Calculator
Find out how much house you can afford in Michigan, where the median home price is $240K and the average property tax rate is 1.54%.
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Conservative Target
$249K
15% below max
Max Monthly Housing
$1,983
28% of gross
Your DTI Ratio
33.6%
Within guidelines
Down Payment
17.1%
$50,000 saved
Budget Breakdown
Gross Monthly Income$7,083
28% Housing Limit$1,983
Existing Debts−$400
Available for Housing$1,983
Max Loan Amount$242,985
+ Down Payment+$50,000
Max Purchase Price$292,985
Michigan Housing at a Glance
Median Home Price
$240K
Michigan statewide
Property Tax Rate
1.54%
$308/mo on median
Avg Closing Costs
$4K
1.5% of purchase price
Homeowners Insurance
$1,800/yr
$150/mo
Michigan First-Time Buyer Program
MSHDA DPA
Down payment assistance: Up to $7,500 DPA