The typical owner-occupied home in Ramsay is worth about $67,700, 71% below the Michigan median of $231,600 and 80% below the national median of $332,700. Owners pay a median $1,090 a year in property taxes, about 1.61% of their home's value, higher than the Michigan rate of 1.25%. The median household earns $54,643 a year, so the median home costs 1.2 times the median income (3.2 times for Michigan). 91% of occupied homes here are lived in by their owners, and 52% of those owners still have a mortgage.
Ramsay at a glance
| Ramsay | Michigan | U.S. | |
|---|---|---|---|
| Median home value | $67,700 | $231,600 | $332,700 |
| Median property tax paid per year | $1,090 | $2,904 | $3,119 |
| Property tax as a share of value | 1.61% | 1.25% | 0.94% |
| Median household income | $54,643 | $72,875 | $80,734 |
| Homes lived in by their owners | 91% | 73% | 65% |
| Owner homes with a mortgage | 52% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $921 | $1,569 | $1,963 |
| Those costs as a share of the owners' income | 30.1% | 19.3% | 21.0% |
| Median rent | – | $1,129 | $1,413 |
| Median year homes were built | 1938 | 1972 | 1980 |
| Vacant homes | 27.4% | 11.8% | 10.1% |
| Population | 312 | 10,077,761 | 334,922,499 |
What a typical home costs per month in Ramsay
At this week's average 30-year rate of 7.11%, buying the median Ramsay home of $67,700 with 20% down costs about $483 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $596, 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 $20,716 for the 20%-down payment. That payment is 11% of the median Ramsay household income of $54,643; at that income and 20% down, the 28% guideline points to a home of about $179,000.
| Down payment | $13,540 |
|---|---|
| Loan amount | $54,160 |
| Principal and interest | $364 |
| Property taxes (1.61% a year) | $91 |
| Homeowners insurance (our estimate, 0.5% a year) | $28 |
| PMI | $0 |
| Total per month | $483 |
Change the numbers in the calculator
| Down payment | $2,370 |
|---|---|
| Loan amount | $66,474 |
| Principal and interest | $447 |
| Property taxes (1.61% a year) | $91 |
| Homeowners insurance (our estimate, 0.5% a year) | $28 |
| FHA mortgage insurance | $30 |
| Total per month | $596 |
Change the numbers in the calculator
Questions about home buying in Ramsay
What is the median home value in Ramsay?
About $67,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Ramsay?
Homeowners pay a median $1,090 a year, which is about 1.61% 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 Ramsay?
For the median home with 20% down at 7.11%, the payment is about $483 a month. Keeping that under 28% of gross income takes about $20,716 a year.
More about Ramsay
- Mortgage Refinance in Ramsay
- Debt Relief in Ramsay
- Home Equity Loans in Ramsay
- 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