The typical owner-occupied home in Tekonsha is worth about $98,300, 58% below the Michigan median of $231,600 and 70% below the national median of $332,700. Owners pay a median $1,386 a year in property taxes, about 1.41% of their home's value, higher than the Michigan rate of 1.25%. The median household earns $55,000 a year, so the median home costs 1.8 times the median income (3.2 times for Michigan). 80% of occupied homes here are lived in by their owners, and 38% of those owners still have a mortgage.
Tekonsha at a glance
| Tekonsha | Michigan | U.S. | |
|---|---|---|---|
| Median home value | $98,300 | $231,600 | $332,700 |
| Median property tax paid per year | $1,386 | $2,904 | $3,119 |
| Property tax as a share of value | 1.41% | 1.25% | 0.94% |
| Median household income | $55,000 | $72,875 | $80,734 |
| Homes lived in by their owners | 80% | 73% | 65% |
| Owner homes with a mortgage | 38% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,019 | $1,569 | $1,963 |
| Those costs as a share of the owners' income | 17.7% | 19.3% | 21.0% |
| Median rent | $613 | $1,129 | $1,413 |
| Rent as a share of renters' income | 24.5% | 30.2% | 30.6% |
| Median year homes were built | 1948 | 1972 | 1980 |
| Vacant homes | 12.0% | 11.8% | 10.1% |
| Population | 575 | 10,077,761 | 334,922,499 |
What a typical home costs per month in Tekonsha
At this week's average 30-year rate of 7.11%, buying the median Tekonsha home of $98,300 with 20% down costs about $685 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $849, 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 $29,378 for the 20%-down payment. That payment is 15% of the median Tekonsha household income of $55,000; at that income and 20% down, the 28% guideline points to a home of about $184,000.
The median rent here is $613 a month, so owning the median home costs about $72 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $19,660 |
|---|---|
| Loan amount | $78,640 |
| Principal and interest | $529 |
| Property taxes (1.41% a year) | $116 |
| Homeowners insurance (our estimate, 0.5% a year) | $41 |
| PMI | $0 |
| Total per month | $685 |
Change the numbers in the calculator
| Down payment | $3,440 |
|---|---|
| Loan amount | $96,520 |
| Principal and interest | $649 |
| Property taxes (1.41% a year) | $116 |
| Homeowners insurance (our estimate, 0.5% a year) | $41 |
| FHA mortgage insurance | $43 |
| Total per month | $849 |
Change the numbers in the calculator
Questions about home buying in Tekonsha
What is the median home value in Tekonsha?
About $98,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Tekonsha?
Homeowners pay a median $1,386 a year, which is about 1.41% 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 Tekonsha?
For the median home with 20% down at 7.11%, the payment is about $685 a month. Keeping that under 28% of gross income takes about $29,378 a year.
More about Tekonsha
- Mortgage Refinance in Tekonsha
- Debt Relief in Tekonsha
- Home Equity Loans in Tekonsha
- 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