The typical owner-occupied home in Waldron is worth about $83,700, 64% below the Michigan median of $231,600 and 75% below the national median of $332,700. Owners pay a median $918 a year in property taxes, about 1.10% of their home's value, lower than the Michigan rate of 1.25%. The median household earns $52,750 a year, so the median home costs 1.6 times the median income (3.2 times for Michigan). 73% of occupied homes here are lived in by their owners, and 65% of those owners still have a mortgage.
Waldron at a glance
| Waldron | Michigan | U.S. | |
|---|---|---|---|
| Median home value | $83,700 | $231,600 | $332,700 |
| Median property tax paid per year | $918 | $2,904 | $3,119 |
| Property tax as a share of value | 1.10% | 1.25% | 0.94% |
| Median household income | $52,750 | $72,875 | $80,734 |
| Homes lived in by their owners | 73% | 73% | 65% |
| Owner homes with a mortgage | 65% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $867 | $1,569 | $1,963 |
| Those costs as a share of the owners' income | 19.1% | 19.3% | 21.0% |
| Median rent | $850 | $1,129 | $1,413 |
| Rent as a share of renters' income | 23.2% | 30.2% | 30.6% |
| Median year homes were built | 1938 | 1972 | 1980 |
| Vacant homes | 8.8% | 11.8% | 10.1% |
| Population | 603 | 10,077,761 | 334,922,499 |
What a typical home costs per month in Waldron
At this week's average 30-year rate of 7.11%, buying the median Waldron home of $83,700 with 20% down costs about $562 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $701, 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 $24,087 for the 20%-down payment. That payment is 13% of the median Waldron household income of $52,750; at that income and 20% down, the 28% guideline points to a home of about $183,000.
The median rent here is $850 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $16,740 |
|---|---|
| Loan amount | $66,960 |
| Principal and interest | $450 |
| Property taxes (1.10% a year) | $77 |
| Homeowners insurance (our estimate, 0.5% a year) | $35 |
| PMI | $0 |
| Total per month | $562 |
Change the numbers in the calculator
| Down payment | $2,930 |
|---|---|
| Loan amount | $82,184 |
| Principal and interest | $553 |
| Property taxes (1.10% a year) | $77 |
| Homeowners insurance (our estimate, 0.5% a year) | $35 |
| FHA mortgage insurance | $37 |
| Total per month | $701 |
Change the numbers in the calculator
Questions about home buying in Waldron
What is the median home value in Waldron?
About $83,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Waldron?
Homeowners pay a median $918 a year, which is about 1.10% 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 Waldron?
For the median home with 20% down at 7.11%, the payment is about $562 a month. Keeping that under 28% of gross income takes about $24,087 a year.
More about Waldron
- Mortgage Refinance in Waldron
- Debt Relief in Waldron
- Home Equity Loans in Waldron
- 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