The typical owner-occupied home in Shaftsburg is worth about $233,400, about the same as the Michigan median of $231,600 and 30% below the national median of $332,700. Owners pay a median $2,956 a year in property taxes, about 1.27% of their home's value, close to the Michigan rate of 1.25%. The median household earns $94,100 a year, so the median home costs 2.5 times the median income (3.2 times for Michigan). 100% of occupied homes here are lived in by their owners, and 72% of those owners still have a mortgage.
Shaftsburg at a glance
| Shaftsburg | Michigan | U.S. | |
|---|---|---|---|
| Median home value | $233,400 | $231,600 | $332,700 |
| Median property tax paid per year | $2,956 | $2,904 | $3,119 |
| Property tax as a share of value | 1.27% | 1.25% | 0.94% |
| Median household income | $94,100 | $72,875 | $80,734 |
| Homes lived in by their owners | 100% | 73% | 65% |
| Owner homes with a mortgage | 72% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,414 | $1,569 | $1,963 |
| Those costs as a share of the owners' income | 20.8% | 19.3% | 21.0% |
| Median rent | – | $1,129 | $1,413 |
| Median year homes were built | 1978 | 1972 | 1980 |
| Vacant homes | 22.1% | 11.8% | 10.1% |
| Population | 441 | 10,077,761 | 334,922,499 |
What a typical home costs per month in Shaftsburg
At this week's average 30-year rate of 7.11%, buying the median Shaftsburg home of $233,400 with 20% down costs about $1,600 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,989, 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 $68,586 for the 20%-down payment. That payment is 20% of the median Shaftsburg household income of $94,100; at that income and 20% down, the 28% guideline points to a home of about $320,000.
| Down payment | $46,680 |
|---|---|
| Loan amount | $186,720 |
| Principal and interest | $1,256 |
| Property taxes (1.27% a year) | $247 |
| Homeowners insurance (our estimate, 0.5% a year) | $97 |
| PMI | $0 |
| Total per month | $1,600 |
Change the numbers in the calculator
| Down payment | $8,169 |
|---|---|
| Loan amount | $229,173 |
| Principal and interest | $1,542 |
| Property taxes (1.27% a year) | $247 |
| Homeowners insurance (our estimate, 0.5% a year) | $97 |
| FHA mortgage insurance | $103 |
| Total per month | $1,989 |
Change the numbers in the calculator
Questions about home buying in Shaftsburg
What is the median home value in Shaftsburg?
About $233,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Shaftsburg?
Homeowners pay a median $2,956 a year, which is about 1.27% 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 Shaftsburg?
For the median home with 20% down at 7.11%, the payment is about $1,600 a month. Keeping that under 28% of gross income takes about $68,586 a year.
More about Shaftsburg
- Mortgage Refinance in Shaftsburg
- Debt Relief in Shaftsburg
- Home Equity Loans in Shaftsburg
- 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