The typical owner-occupied home in Lyons is worth about $121,500, 48% below the Michigan median of $231,600 and 63% below the national median of $332,700. Owners pay a median $1,934 a year in property taxes, about 1.59% of their home's value, higher than the Michigan rate of 1.25%. The median household earns $68,603 a year, so the median home costs 1.8 times the median income (3.2 times for Michigan). 77% of occupied homes here are lived in by their owners, and 73% of those owners still have a mortgage.
Lyons at a glance
| Lyons | Michigan | U.S. | |
|---|---|---|---|
| Median home value | $121,500 | $231,600 | $332,700 |
| Median property tax paid per year | $1,934 | $2,904 | $3,119 |
| Property tax as a share of value | 1.59% | 1.25% | 0.94% |
| Median household income | $68,603 | $72,875 | $80,734 |
| Homes lived in by their owners | 77% | 73% | 65% |
| Owner homes with a mortgage | 73% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,141 | $1,569 | $1,963 |
| Those costs as a share of the owners' income | 21.6% | 19.3% | 21.0% |
| Median rent | $1,063 | $1,129 | $1,413 |
| Rent as a share of renters' income | 18.1% | 30.2% | 30.6% |
| Median year homes were built | 1948 | 1972 | 1980 |
| Vacant homes | 6.1% | 11.8% | 10.1% |
| Population | 896 | 10,077,761 | 334,922,499 |
What a typical home costs per month in Lyons
At this week's average 30-year rate of 7.11%, buying the median Lyons home of $121,500 with 20% down costs about $865 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,068, 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 $37,092 for the 20%-down payment. That payment is 15% of the median Lyons household income of $68,603; at that income and 20% down, the 28% guideline points to a home of about $225,000.
The median rent here is $1,063 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $24,300 |
|---|---|
| Loan amount | $97,200 |
| Principal and interest | $654 |
| Property taxes (1.59% a year) | $161 |
| Homeowners insurance (our estimate, 0.5% a year) | $51 |
| PMI | $0 |
| Total per month | $865 |
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| Down payment | $4,252 |
|---|---|
| Loan amount | $119,299 |
| Principal and interest | $803 |
| Property taxes (1.59% a year) | $161 |
| Homeowners insurance (our estimate, 0.5% a year) | $51 |
| FHA mortgage insurance | $54 |
| Total per month | $1,068 |
Change the numbers in the calculator
Questions about home buying in Lyons
What is the median home value in Lyons?
About $121,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Lyons?
Homeowners pay a median $1,934 a year, which is about 1.59% 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 Lyons?
For the median home with 20% down at 7.11%, the payment is about $865 a month. Keeping that under 28% of gross income takes about $37,092 a year.
More about Lyons
- Mortgage Refinance in Lyons
- Debt Relief in Lyons
- Home Equity Loans in Lyons
- 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