Michigan Mortgage Calculator
Calculate your monthly payment in Michigan, with property tax included using the state's effective rate of 1.25%. See your full amortization schedule and analyze your loan structure.
Pick a state to use its property tax rate. With a keyboard, use the arrow keys and press Enter.
Estimated Monthly Payment
Estimates only. Does not include homeowners insurance, mortgage insurance (PMI), or HOA fees. Property tax uses the state's average effective rate and your actual bill may differ.
Yearly Amortization Schedule
| Year | Principal Paid | Interest Paid | Remaining Balance |
|---|---|---|---|
| 1 | $3,577 | $20,695 | $316,423 |
| 2 | $3,816 | $20,455 | $312,607 |
| 3 | $4,072 | $20,200 | $308,535 |
| 4 | $4,345 | $19,927 | $304,191 |
| 5 | $4,636 | $19,636 | $299,555 |
| 6 | $4,946 | $19,325 | $294,609 |
| 7 | $5,277 | $18,994 | $289,332 |
| 8 | $5,631 | $18,641 | $283,701 |
| 9 | $6,008 | $18,264 | $277,694 |
| 10 | $6,410 | $17,861 | $271,284 |
| 11 | $6,839 | $17,432 | $264,444 |
| 12 | $7,297 | $16,974 | $257,147 |
| 13 | $7,786 | $16,485 | $249,361 |
| 14 | $8,308 | $15,964 | $241,053 |
| 15 | $8,864 | $15,407 | $232,189 |
| 16 | $9,458 | $14,814 | $222,732 |
| 17 | $10,091 | $14,180 | $212,641 |
| 18 | $10,767 | $13,505 | $201,874 |
| 19 | $11,488 | $12,784 | $190,386 |
| 20 | $12,257 | $12,014 | $178,129 |
| 21 | $13,078 | $11,193 | $165,051 |
| 22 | $13,954 | $10,317 | $151,097 |
| 23 | $14,888 | $9,383 | $136,208 |
| 24 | $15,886 | $8,386 | $120,323 |
| 25 | $16,949 | $7,322 | $103,373 |
| 26 | $18,085 | $6,187 | $85,289 |
| 27 | $19,296 | $4,976 | $65,993 |
| 28 | $20,588 | $3,683 | $45,405 |
| 29 | $21,967 | $2,305 | $23,438 |
| 30 | $23,438 | $833 | $0 |
Property tax in Michigan: the numbers
Michigan's effective property tax rate is 1.25%, which is 36% above the 0.92% national average. By rate, it ranks 14th out of 50 when states are ordered from highest rate to lowest.
A median-valued home in Michigan is worth $231,600 and carries a median property tax of $2,904 per year, or roughly $242 per month. By median home value the state ranks 38th out of 50 (1 = highest), and by median annual property tax it ranks 20th.
| Effective property tax rate | 1.25% |
|---|---|
| Median home value | $231,600 |
| Median annual property tax | $2,904 |
| Rank by rate (1 = highest of 50) | 14 |
| Difference vs 0.92% national average | 0.33 points above (36% above) |
What this means for your monthly payment
Two worked examples for Michigan, using the figures above:
Example 1: the median home
$2,904 per year ÷ 12 = about $242 per month in property tax (median home value: $231,600).
Example 2: a $300,000 home
$300,000 × 1.25% ÷ 12 = about $313 per month, or $3,750 per year.
At the 0.92% national average rate, a $300,000 home would have about $2,760 in property tax per year. In Michigan it is about $3,750, which is $990 more per year (about $83 more per month).
Compare with similar states
States ranked just above and just below Michigan by effective property tax rate (1 = highest). States with the same rate are ordered by median annual tax.
Ranked just above (higher rate)
- Wisconsin — 1.42% (rank 9)
- Iowa — 1.39% (rank 10)
- Ohio — 1.31% (rank 11)
- Pennsylvania — 1.30% (rank 12)
- Kansas — 1.29% (rank 13)
Ranked just below (lower rate)
- Rhode Island — 1.21% (rank 15)
- Alaska — 1.11% (rank 16)
- Massachusetts — 1.07% (rank 17)
- South Dakota — 1.06% (rank 18)
- Minnesota — 1.02% (rank 19)
Michigan property tax FAQ
What is the property tax rate in Michigan?
The effective property tax rate in Michigan is 1.25%. That is 36% above the 0.92% national average, and the state ranks 14th out of 50 when states are ordered from highest rate to lowest.
How much is property tax on a $300,000 home in Michigan?
At Michigan's effective rate of 1.25%, property tax on a $300,000 home works out to about $3,750 per year, or about $313 per month. At the 0.92% national average, the same home would be about $2,760 per year, so Michigan is about $990 more per year.
How much is property tax on the median home in Michigan?
The median home value in Michigan is $231,600, and the median annual property tax is $2,904, which is about $242 per month.
Does the property tax rate vary inside Michigan?
Yes. Property taxes are set locally, so actual bills depend on your county, city, and exemptions. The 1.25% figure is a state-level estimate based on medians, not a rate that applies to every home.
Figures are estimates based on Census data and are not tax or financial advice. Actual bills depend on your local rates, assessed value and exemptions.
Source: U.S. Census Bureau, American Community Survey 2020-2024 5-year estimates, as compiled by PropertyShark and PropertyTaxByState.