The typical owner-occupied home in Howard City is worth about $151,200, 35% below the Michigan median of $231,600 and 55% below the national median of $332,700. Owners pay a median $1,430 a year in property taxes, about 0.95% of their home's value, lower than the Michigan rate of 1.25%. The median household earns $54,688 a year, so the median home costs 2.8 times the median income (3.2 times for Michigan). 77% of occupied homes here are lived in by their owners, and 69% of those owners still have a mortgage.
Howard City at a glance
| Howard City | Michigan | U.S. | |
|---|---|---|---|
| Median home value | $151,200 | $231,600 | $332,700 |
| Median property tax paid per year | $1,430 | $2,904 | $3,119 |
| Property tax as a share of value | 0.95% | 1.25% | 0.94% |
| Median household income | $54,688 | $72,875 | $80,734 |
| Homes lived in by their owners | 77% | 73% | 65% |
| Owner homes with a mortgage | 69% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,253 | $1,569 | $1,963 |
| Those costs as a share of the owners' income | 26.4% | 19.3% | 21.0% |
| Median rent | $609 | $1,129 | $1,413 |
| Rent as a share of renters' income | 28.6% | 30.2% | 30.6% |
| Median year homes were built | 1990 | 1972 | 1980 |
| Vacant homes | 4.1% | 11.8% | 10.1% |
| Population | 1,636 | 10,077,761 | 334,922,499 |
What a typical home costs per month in Howard City
At this week's average 30-year rate of 7.11%, buying the median Howard City home of $151,200 with 20% down costs about $996 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,248, 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 $42,703 for the 20%-down payment. That payment is 22% of the median Howard City household income of $54,688; at that income and 20% down, the 28% guideline points to a home of about $194,000.
The median rent here is $609 a month, so owning the median home costs about $387 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $30,240 |
|---|---|
| Loan amount | $120,960 |
| Principal and interest | $814 |
| Property taxes (0.95% a year) | $120 |
| Homeowners insurance (our estimate, 0.5% a year) | $63 |
| PMI | $0 |
| Total per month | $996 |
Change the numbers in the calculator
| Down payment | $5,292 |
|---|---|
| Loan amount | $148,461 |
| Principal and interest | $999 |
| Property taxes (0.95% a year) | $120 |
| Homeowners insurance (our estimate, 0.5% a year) | $63 |
| FHA mortgage insurance | $67 |
| Total per month | $1,248 |
Change the numbers in the calculator
Questions about home buying in Howard City
What is the median home value in Howard City?
About $151,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Howard City?
Homeowners pay a median $1,430 a year, which is about 0.95% 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 Howard City?
For the median home with 20% down at 7.11%, the payment is about $996 a month. Keeping that under 28% of gross income takes about $42,703 a year.
More about Howard City
- Mortgage Refinance in Howard City
- Debt Relief in Howard City
- Home Equity Loans in Howard City
- 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