The typical owner-occupied home in Riverdale is worth about $90,500, 61% below the Michigan median of $231,600 and 73% below the national median of $332,700. Owners pay a median $1,221 a year in property taxes, about 1.35% of their home's value, higher than the Michigan rate of 1.25%. 100% of occupied homes here are lived in by their owners, and 82% of those owners still have a mortgage.
Riverdale at a glance
| Riverdale | Michigan | U.S. | |
|---|---|---|---|
| Median home value | $90,500 | $231,600 | $332,700 |
| Median property tax paid per year | $1,221 | $2,904 | $3,119 |
| Property tax as a share of value | 1.35% | 1.25% | 0.94% |
| Median household income | – | $72,875 | $80,734 |
| Homes lived in by their owners | 100% | 73% | 65% |
| Owner homes with a mortgage | 82% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $783 | $1,569 | $1,963 |
| Those costs as a share of the owners' income | 14.7% | 19.3% | 21.0% |
| Median rent | – | $1,129 | $1,413 |
| Median year homes were built | 1980 | 1972 | 1980 |
| Vacant homes | 33.6% | 11.8% | 10.1% |
| Population | 216 | 10,077,761 | 334,922,499 |
What a typical home costs per month in Riverdale
At this week's average 30-year rate of 7.11%, buying the median Riverdale home of $90,500 with 20% down costs about $627 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $777, 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 $26,853 for the 20%-down payment.
| Down payment | $18,100 |
|---|---|
| Loan amount | $72,400 |
| Principal and interest | $487 |
| Property taxes (1.35% a year) | $102 |
| Homeowners insurance (our estimate, 0.5% a year) | $38 |
| PMI | $0 |
| Total per month | $627 |
Change the numbers in the calculator
| Down payment | $3,168 |
|---|---|
| Loan amount | $88,861 |
| Principal and interest | $598 |
| Property taxes (1.35% a year) | $102 |
| Homeowners insurance (our estimate, 0.5% a year) | $38 |
| FHA mortgage insurance | $40 |
| Total per month | $777 |
Change the numbers in the calculator
Questions about home buying in Riverdale
What is the median home value in Riverdale?
About $90,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Riverdale?
Homeowners pay a median $1,221 a year, which is about 1.35% 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 Riverdale?
For the median home with 20% down at 7.11%, the payment is about $627 a month. Keeping that under 28% of gross income takes about $26,853 a year.
More about Riverdale
- Mortgage Refinance in Riverdale
- Debt Relief in Riverdale
- Home Equity Loans in Riverdale
- 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