Mortgage Calculator & Closing Costs: Mount Pleasant, MI
Mortgage payment estimates, closing cost breakdowns, and homebuying data for Mount Pleasant, Michigan.
Median Home Price
$185K
Population
21K
Avg Monthly Rent
$920
Property Tax Rate
1.54% *
* Property tax shown is the Michigan state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Mount Pleasant.
Mount Pleasant vs Michigan Median
The median home price in Mount Pleasant is $185,000, which is 23% below the Michigan state median of $240,000.
Mortgage Calculator — Mount Pleasant, MI
Pre-filled with Mount Pleasant median home price and Michigan tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $185K home using Michigan's 1.54% tax rate and $1,800/yr insurance.
5% Down
$1,601/mo
Down: $9,250
Loan: $176K
P&I: $1,111
Tax: $237
Insurance: $150
PMI: $103
10% Down
$1,537/mo
Down: $18,500
Loan: $167K
P&I: $1,052
Tax: $237
Insurance: $150
PMI: $97
20% Down (No PMI)
$1,323/mo
Down: $37,000
Loan: $148K
P&I: $935
Tax: $237
Insurance: $150
Income needed (28% rule): $57K/year with 20% down, $66K/year with 10% down.
Rent vs Buy in Mount Pleasant
Rent
$920/mo
vs
Buy (10% down)
$1,537/mo
Price-to-rent ratio: 16.8 — A ratio between 15-20 means the rent vs buy decision in Mount Pleasant depends heavily on your timeline. If you plan to stay 5+ years, buying likely wins. For shorter stays, renting preserves flexibility.
The median home price in Mount Pleasant is $185,000, 23% below the Michigan state median of $240,000. With a population of 21,218, Mount Pleasant is a smaller market where home prices tend to be more accessible than in many parts of Michigan.
Property taxes in Michigan average 1.54% annually. This higher-than-average tax rate means a $185,000 home in Mount Pleasant would carry roughly $237/month in property taxes alone — plan accordingly. Homeowners insurance in Michigan runs approximately $1,800 per year. This is within the normal range nationally.
Average rent in Mount Pleasant is $920/month. The price-to-rent ratio in Mount Pleasant is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Mount Pleasant offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with Michigan's MSHDA DPA program.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Mount Pleasant.