The typical owner-occupied home in Metamora is worth about $270,900, 17% above the Michigan median of $231,600 and 19% below the national median of $332,700. Owners pay a median $2,596 a year in property taxes, about 0.96% of their home's value, lower than the Michigan rate of 1.25%. The median household earns $85,750 a year, so the median home costs 3.2 times the median income (3.2 times for Michigan). 82% of occupied homes here are lived in by their owners, and 76% of those owners still have a mortgage.
Metamora at a glance
| Metamora | Michigan | U.S. | |
|---|---|---|---|
| Median home value | $270,900 | $231,600 | $332,700 |
| Median property tax paid per year | $2,596 | $2,904 | $3,119 |
| Property tax as a share of value | 0.96% | 1.25% | 0.94% |
| Median household income | $85,750 | $72,875 | $80,734 |
| Homes lived in by their owners | 82% | 73% | 65% |
| Owner homes with a mortgage | 76% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,579 | $1,569 | $1,963 |
| Those costs as a share of the owners' income | 19.6% | 19.3% | 21.0% |
| Median rent | $794 | $1,129 | $1,413 |
| Rent as a share of renters' income | 25.4% | 30.2% | 30.6% |
| Median year homes were built | 1977 | 1972 | 1980 |
| Vacant homes | 4.5% | 11.8% | 10.1% |
| Population | 693 | 10,077,761 | 334,922,499 |
What a typical home costs per month in Metamora
At this week's average 30-year rate of 7.11%, buying the median Metamora home of $270,900 with 20% down costs about $1,787 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,239, 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 $76,607 for the 20%-down payment. That payment is 25% of the median Metamora household income of $85,750; at that income and 20% down, the 28% guideline points to a home of about $303,000.
The median rent here is $794 a month, so owning the median home costs about $993 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $54,180 |
|---|---|
| Loan amount | $216,720 |
| Principal and interest | $1,458 |
| Property taxes (0.96% a year) | $217 |
| Homeowners insurance (our estimate, 0.5% a year) | $113 |
| PMI | $0 |
| Total per month | $1,787 |
Change the numbers in the calculator
| Down payment | $9,482 |
|---|---|
| Loan amount | $265,993 |
| Principal and interest | $1,789 |
| Property taxes (0.96% a year) | $217 |
| Homeowners insurance (our estimate, 0.5% a year) | $113 |
| FHA mortgage insurance | $120 |
| Total per month | $2,239 |
Change the numbers in the calculator
Questions about home buying in Metamora
What is the median home value in Metamora?
About $270,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Metamora?
Homeowners pay a median $2,596 a year, which is about 0.96% 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 Metamora?
For the median home with 20% down at 7.11%, the payment is about $1,787 a month. Keeping that under 28% of gross income takes about $76,607 a year.
More about Metamora
- Mortgage Refinance in Metamora
- Debt Relief in Metamora
- Home Equity Loans in Metamora
- 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