The typical owner-occupied home in Free Soil is worth about $115,600, 50% below the Michigan median of $231,600 and 65% below the national median of $332,700. Owners pay a median $871 a year in property taxes, about 0.75% of their home's value, lower than the Michigan rate of 1.25%. The median household earns $58,750 a year, so the median home costs 2.0 times the median income (3.2 times for Michigan). 88% of occupied homes here are lived in by their owners, and 31% of those owners still have a mortgage.
Free Soil at a glance
| Free Soil | Michigan | U.S. | |
|---|---|---|---|
| Median home value | $115,600 | $231,600 | $332,700 |
| Median property tax paid per year | $871 | $2,904 | $3,119 |
| Property tax as a share of value | 0.75% | 1.25% | 0.94% |
| Median household income | $58,750 | $72,875 | $80,734 |
| Homes lived in by their owners | 88% | 73% | 65% |
| Owner homes with a mortgage | 31% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $900 | $1,569 | $1,963 |
| Those costs as a share of the owners' income | 20.0% | 19.3% | 21.0% |
| Median rent | $917 | $1,129 | $1,413 |
| Rent as a share of renters' income | 31.3% | 30.2% | 30.6% |
| Median year homes were built | 1952 | 1972 | 1980 |
| Vacant homes | 18.3% | 11.8% | 10.1% |
| Population | 112 | 10,077,761 | 334,922,499 |
What a typical home costs per month in Free Soil
At this week's average 30-year rate of 7.11%, buying the median Free Soil home of $115,600 with 20% down costs about $743 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $935, 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 $31,823 for the 20%-down payment. That payment is 15% of the median Free Soil household income of $58,750; at that income and 20% down, the 28% guideline points to a home of about $213,000.
The median rent here is $917 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $23,120 |
|---|---|
| Loan amount | $92,480 |
| Principal and interest | $622 |
| Property taxes (0.75% a year) | $72 |
| Homeowners insurance (our estimate, 0.5% a year) | $48 |
| PMI | $0 |
| Total per month | $743 |
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| Down payment | $4,046 |
|---|---|
| Loan amount | $113,506 |
| Principal and interest | $764 |
| Property taxes (0.75% a year) | $72 |
| Homeowners insurance (our estimate, 0.5% a year) | $48 |
| FHA mortgage insurance | $51 |
| Total per month | $935 |
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Questions about home buying in Free Soil
What is the median home value in Free Soil?
About $115,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Free Soil?
Homeowners pay a median $871 a year, which is about 0.75% 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 Free Soil?
For the median home with 20% down at 7.11%, the payment is about $743 a month. Keeping that under 28% of gross income takes about $31,823 a year.
More about Free Soil
- Mortgage Refinance in Free Soil
- Debt Relief in Free Soil
- Home Equity Loans in Free Soil
- 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