The typical owner-occupied home in Essexville is worth about $128,500, 45% below the Michigan median of $231,600 and 61% below the national median of $332,700. Owners pay a median $2,493 a year in property taxes, about 1.94% of their home's value, higher than the Michigan rate of 1.25%. The median household earns $75,341 a year, so the median home costs 1.7 times the median income (3.2 times for Michigan). 95% of occupied homes here are lived in by their owners, and 53% of those owners still have a mortgage.
Essexville at a glance
| Essexville | Michigan | U.S. | |
|---|---|---|---|
| Median home value | $128,500 | $231,600 | $332,700 |
| Median property tax paid per year | $2,493 | $2,904 | $3,119 |
| Property tax as a share of value | 1.94% | 1.25% | 0.94% |
| Median household income | $75,341 | $72,875 | $80,734 |
| Homes lived in by their owners | 95% | 73% | 65% |
| Owner homes with a mortgage | 53% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,335 | $1,569 | $1,963 |
| Those costs as a share of the owners' income | 21.9% | 19.3% | 21.0% |
| Median rent | – | $1,129 | $1,413 |
| Rent as a share of renters' income | 13.0% | 30.2% | 30.6% |
| Median year homes were built | 1952 | 1972 | 1980 |
| Vacant homes | 2.7% | 11.8% | 10.1% |
| Population | 3,327 | 10,077,761 | 334,922,499 |
What a typical home costs per month in Essexville
At this week's average 30-year rate of 7.11%, buying the median Essexville home of $128,500 with 20% down costs about $953 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,167, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $40,835 for the 20%-down payment. That payment is 15% of the median Essexville household income of $75,341; at that income and 20% down, the 28% guideline points to a home of about $237,000.
| Down payment | $25,700 |
|---|---|
| Loan amount | $102,800 |
| Principal and interest | $692 |
| Property taxes (1.94% a year) | $208 |
| Homeowners insurance (our estimate, 0.5% a year) | $54 |
| PMI | $0 |
| Total per month | $953 |
Change the numbers in the calculator
| Down payment | $4,498 |
|---|---|
| Loan amount | $126,173 |
| Principal and interest | $849 |
| Property taxes (1.94% a year) | $208 |
| Homeowners insurance (our estimate, 0.5% a year) | $54 |
| FHA mortgage insurance | $57 |
| Total per month | $1,167 |
Change the numbers in the calculator
Questions about home buying in Essexville
What is the median home value in Essexville?
About $128,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Essexville?
Homeowners pay a median $2,493 a year, which is about 1.94% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Essexville?
For the median home with 20% down at 7.11%, the payment is about $953 a month. Keeping that under 28% of gross income takes about $40,835 a year.
More about Essexville
- Mortgage Refinance in Essexville
- Debt Relief in Essexville
- Home Equity Loans in Essexville
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data