The typical owner-occupied home in Forestville is worth about $170,800, 26% below the Michigan median of $231,600 and 49% below the national median of $332,700. Owners pay a median $1,333 a year in property taxes, about 0.78% of their home's value, lower than the Michigan rate of 1.25%. The median household earns $40,938 a year, so the median home costs 4.2 times the median income (3.2 times for Michigan). 78% of occupied homes here are lived in by their owners, and 52% of those owners still have a mortgage.
Forestville at a glance
| Forestville | Michigan | U.S. | |
|---|---|---|---|
| Median home value | $170,800 | $231,600 | $332,700 |
| Median property tax paid per year | $1,333 | $2,904 | $3,119 |
| Property tax as a share of value | 0.78% | 1.25% | 0.94% |
| Median household income | $40,938 | $72,875 | $80,734 |
| Homes lived in by their owners | 78% | 73% | 65% |
| Owner homes with a mortgage | 52% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,080 | $1,569 | $1,963 |
| Those costs as a share of the owners' income | 29.2% | 19.3% | 21.0% |
| Median rent | – | $1,129 | $1,413 |
| Median year homes were built | 1959 | 1972 | 1980 |
| Vacant homes | 47.6% | 11.8% | 10.1% |
| Population | 136 | 10,077,761 | 334,922,499 |
What a typical home costs per month in Forestville
At this week's average 30-year rate of 7.11%, buying the median Forestville home of $170,800 with 20% down costs about $1,101 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,386, 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 $47,202 for the 20%-down payment. That payment is 32% of the median Forestville household income of $40,938; at that income and 20% down, the 28% guideline points to a home of about $148,000.
| Down payment | $34,160 |
|---|---|
| Loan amount | $136,640 |
| Principal and interest | $919 |
| Property taxes (0.78% a year) | $111 |
| Homeowners insurance (our estimate, 0.5% a year) | $71 |
| PMI | $0 |
| Total per month | $1,101 |
Change the numbers in the calculator
| Down payment | $5,978 |
|---|---|
| Loan amount | $167,706 |
| Principal and interest | $1,128 |
| Property taxes (0.78% a year) | $111 |
| Homeowners insurance (our estimate, 0.5% a year) | $71 |
| FHA mortgage insurance | $76 |
| Total per month | $1,386 |
Change the numbers in the calculator
Questions about home buying in Forestville
What is the median home value in Forestville?
About $170,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Forestville?
Homeowners pay a median $1,333 a year, which is about 0.78% 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 Forestville?
For the median home with 20% down at 7.11%, the payment is about $1,101 a month. Keeping that under 28% of gross income takes about $47,202 a year.
More about Forestville
- Mortgage Refinance in Forestville
- Debt Relief in Forestville
- Home Equity Loans in Forestville
- 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