The typical owner-occupied home in Port Hope is worth about $88,700, 62% below the Michigan median of $231,600 and 73% below the national median of $332,700. Owners pay a median $1,141 a year in property taxes, about 1.29% of their home's value, close to the Michigan rate of 1.25%. The median household earns $51,563 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 36% of those owners still have a mortgage.
Port Hope at a glance
| Port Hope | Michigan | U.S. | |
|---|---|---|---|
| Median home value | $88,700 | $231,600 | $332,700 |
| Median property tax paid per year | $1,141 | $2,904 | $3,119 |
| Property tax as a share of value | 1.29% | 1.25% | 0.94% |
| Median household income | $51,563 | $72,875 | $80,734 |
| Homes lived in by their owners | 95% | 73% | 65% |
| Owner homes with a mortgage | 36% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $934 | $1,569 | $1,963 |
| Those costs as a share of the owners' income | 19.2% | 19.3% | 21.0% |
| Median rent | – | $1,129 | $1,413 |
| Median year homes were built | 1951 | 1972 | 1980 |
| Vacant homes | 42.5% | 11.8% | 10.1% |
| Population | 268 | 10,077,761 | 334,922,499 |
What a typical home costs per month in Port Hope
At this week's average 30-year rate of 7.11%, buying the median Port Hope home of $88,700 with 20% down costs about $610 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $757, 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 $26,128 for the 20%-down payment. That payment is 14% of the median Port Hope household income of $51,563; at that income and 20% down, the 28% guideline points to a home of about $175,000.
| Down payment | $17,740 |
|---|---|
| Loan amount | $70,960 |
| Principal and interest | $477 |
| Property taxes (1.29% a year) | $95 |
| Homeowners insurance (our estimate, 0.5% a year) | $37 |
| PMI | $0 |
| Total per month | $610 |
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| Down payment | $3,104 |
|---|---|
| Loan amount | $87,093 |
| Principal and interest | $586 |
| Property taxes (1.29% a year) | $95 |
| Homeowners insurance (our estimate, 0.5% a year) | $37 |
| FHA mortgage insurance | $39 |
| Total per month | $757 |
Change the numbers in the calculator
Questions about home buying in Port Hope
What is the median home value in Port Hope?
About $88,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Port Hope?
Homeowners pay a median $1,141 a year, which is about 1.29% 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 Port Hope?
For the median home with 20% down at 7.11%, the payment is about $610 a month. Keeping that under 28% of gross income takes about $26,128 a year.
More about Port Hope
- Mortgage Refinance in Port Hope
- Debt Relief in Port Hope
- Home Equity Loans in Port Hope
- 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