The typical owner-occupied home in Lamont is worth about $460,300, 99% above the Michigan median of $231,600 and 38% above the national median of $332,700. Owners pay a median $5,512 a year in property taxes, about 1.20% of their home's value, close to the Michigan rate of 1.25%. The median household earns $150,438 a year, so the median home costs 3.1 times the median income (3.2 times for Michigan). 100% of occupied homes here are lived in by their owners, and 45% of those owners still have a mortgage.
Lamont at a glance
| Lamont | Michigan | U.S. | |
|---|---|---|---|
| Median home value | $460,300 | $231,600 | $332,700 |
| Median property tax paid per year | $5,512 | $2,904 | $3,119 |
| Property tax as a share of value | 1.20% | 1.25% | 0.94% |
| Median household income | $150,438 | $72,875 | $80,734 |
| Homes lived in by their owners | 100% | 73% | 65% |
| Owner homes with a mortgage | 45% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $2,068 | $1,569 | $1,963 |
| Those costs as a share of the owners' income | 18.9% | 19.3% | 21.0% |
| Median rent | – | $1,129 | $1,413 |
| Median year homes were built | 1995 | 1972 | 1980 |
| Vacant homes | 0.0% | 11.8% | 10.1% |
| Population | 1,177 | 10,077,761 | 334,922,499 |
What a typical home costs per month in Lamont
At this week's average 30-year rate of 7.11%, buying the median Lamont home of $460,300 with 20% down costs about $3,129 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,896, 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 $134,111 for the 20%-down payment. That payment is 25% of the median Lamont household income of $150,438; at that income and 20% down, the 28% guideline points to a home of about $516,000.
| Down payment | $92,060 |
|---|---|
| Loan amount | $368,240 |
| Principal and interest | $2,477 |
| Property taxes (1.20% a year) | $460 |
| Homeowners insurance (our estimate, 0.5% a year) | $192 |
| PMI | $0 |
| Total per month | $3,129 |
Change the numbers in the calculator
| Down payment | $16,110 |
|---|---|
| Loan amount | $451,963 |
| Principal and interest | $3,040 |
| Property taxes (1.20% a year) | $460 |
| Homeowners insurance (our estimate, 0.5% a year) | $192 |
| FHA mortgage insurance | $204 |
| Total per month | $3,896 |
Change the numbers in the calculator
Questions about home buying in Lamont
What is the median home value in Lamont?
About $460,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Lamont?
Homeowners pay a median $5,512 a year, which is about 1.20% 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 Lamont?
For the median home with 20% down at 7.11%, the payment is about $3,129 a month. Keeping that under 28% of gross income takes about $134,111 a year.
More about Lamont
- Mortgage Refinance in Lamont
- Debt Relief in Lamont
- Home Equity Loans in Lamont
- 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