The typical owner-occupied home in Empire is worth about $456,300, 97% above the Michigan median of $231,600 and 37% above the national median of $332,700. Owners pay a median $2,966 a year in property taxes, about 0.65% of their home's value, lower than the Michigan rate of 1.25%. The median household earns $83,929 a year, so the median home costs 5.4 times the median income (3.2 times for Michigan). 80% of occupied homes here are lived in by their owners, and 28% of those owners still have a mortgage.
Empire at a glance
| Empire | Michigan | U.S. | |
|---|---|---|---|
| Median home value | $456,300 | $231,600 | $332,700 |
| Median property tax paid per year | $2,966 | $2,904 | $3,119 |
| Property tax as a share of value | 0.65% | 1.25% | 0.94% |
| Median household income | $83,929 | $72,875 | $80,734 |
| Homes lived in by their owners | 80% | 73% | 65% |
| Owner homes with a mortgage | 28% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,950 | $1,569 | $1,963 |
| Those costs as a share of the owners' income | 26.8% | 19.3% | 21.0% |
| Median rent | – | $1,129 | $1,413 |
| Rent as a share of renters' income | 16.5% | 30.2% | 30.6% |
| Median year homes were built | 1977 | 1972 | 1980 |
| Vacant homes | 46.4% | 11.8% | 10.1% |
| Population | 341 | 10,077,761 | 334,922,499 |
What a typical home costs per month in Empire
At this week's average 30-year rate of 7.11%, buying the median Empire home of $456,300 with 20% down costs about $2,893 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,653, 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 $123,983 for the 20%-down payment. That payment is 41% of the median Empire household income of $83,929; at that income and 20% down, the 28% guideline points to a home of about $309,000.
| Down payment | $91,260 |
|---|---|
| Loan amount | $365,040 |
| Principal and interest | $2,456 |
| Property taxes (0.65% a year) | $247 |
| Homeowners insurance (our estimate, 0.5% a year) | $190 |
| PMI | $0 |
| Total per month | $2,893 |
Change the numbers in the calculator
| Down payment | $15,970 |
|---|---|
| Loan amount | $448,035 |
| Principal and interest | $3,014 |
| Property taxes (0.65% a year) | $247 |
| Homeowners insurance (our estimate, 0.5% a year) | $190 |
| FHA mortgage insurance | $202 |
| Total per month | $3,653 |
Change the numbers in the calculator
Questions about home buying in Empire
What is the median home value in Empire?
About $456,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Empire?
Homeowners pay a median $2,966 a year, which is about 0.65% 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 Empire?
For the median home with 20% down at 7.11%, the payment is about $2,893 a month. Keeping that under 28% of gross income takes about $123,983 a year.
More about Empire
- Mortgage Refinance in Empire
- Debt Relief in Empire
- Home Equity Loans in Empire
- 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