The typical owner-occupied home in Freeland is worth about $265,900, 15% above the Michigan median of $231,600 and 20% below the national median of $332,700. Owners pay a median $3,495 a year in property taxes, about 1.31% of their home's value, close to the Michigan rate of 1.25%. The median household earns $110,547 a year, so the median home costs 2.4 times the median income (3.2 times for Michigan). 84% of occupied homes here are lived in by their owners, and 67% of those owners still have a mortgage.
Freeland at a glance
| Freeland | Michigan | U.S. | |
|---|---|---|---|
| Median home value | $265,900 | $231,600 | $332,700 |
| Median property tax paid per year | $3,495 | $2,904 | $3,119 |
| Property tax as a share of value | 1.31% | 1.25% | 0.94% |
| Median household income | $110,547 | $72,875 | $80,734 |
| Homes lived in by their owners | 84% | 73% | 65% |
| Owner homes with a mortgage | 67% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,735 | $1,569 | $1,963 |
| Those costs as a share of the owners' income | 15.9% | 19.3% | 21.0% |
| Median rent | $1,245 | $1,129 | $1,413 |
| Rent as a share of renters' income | 22.9% | 30.2% | 30.6% |
| Median year homes were built | 1995 | 1972 | 1980 |
| Vacant homes | 3.6% | 11.8% | 10.1% |
| Population | 7,557 | 10,077,761 | 334,922,499 |
What a typical home costs per month in Freeland
At this week's average 30-year rate of 7.11%, buying the median Freeland home of $265,900 with 20% down costs about $1,832 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,275, 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 $78,516 for the 20%-down payment. That payment is 20% of the median Freeland household income of $110,547; at that income and 20% down, the 28% guideline points to a home of about $374,000.
The median rent here is $1,245 a month, so owning the median home costs about $587 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $53,180 |
|---|---|
| Loan amount | $212,720 |
| Principal and interest | $1,431 |
| Property taxes (1.31% a year) | $290 |
| Homeowners insurance (our estimate, 0.5% a year) | $111 |
| PMI | $0 |
| Total per month | $1,832 |
Change the numbers in the calculator
| Down payment | $9,306 |
|---|---|
| Loan amount | $261,084 |
| Principal and interest | $1,756 |
| Property taxes (1.31% a year) | $290 |
| Homeowners insurance (our estimate, 0.5% a year) | $111 |
| FHA mortgage insurance | $118 |
| Total per month | $2,275 |
Change the numbers in the calculator
Questions about home buying in Freeland
What is the median home value in Freeland?
About $265,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Freeland?
Homeowners pay a median $3,495 a year, which is about 1.31% 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 Freeland?
For the median home with 20% down at 7.11%, the payment is about $1,832 a month. Keeping that under 28% of gross income takes about $78,516 a year.
More about Freeland
- Mortgage Refinance in Freeland
- Debt Relief in Freeland
- Home Equity Loans in Freeland
- 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