The typical owner-occupied home in Dexter is worth about $421,000, 82% above the Michigan median of $231,600 and 27% above the national median of $332,700. Owners pay a median $6,552 a year in property taxes, about 1.56% of their home's value, higher than the Michigan rate of 1.25%. The median household earns $106,637 a year, so the median home costs 3.9 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.
Dexter at a glance
| Dexter | Michigan | U.S. | |
|---|---|---|---|
| Median home value | $421,000 | $231,600 | $332,700 |
| Median property tax paid per year | $6,552 | $2,904 | $3,119 |
| Property tax as a share of value | 1.56% | 1.25% | 0.94% |
| Median household income | $106,637 | $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 | $2,277 | $1,569 | $1,963 |
| Those costs as a share of the owners' income | 23.9% | 19.3% | 21.0% |
| Median rent | $1,761 | $1,129 | $1,413 |
| Rent as a share of renters' income | 31.8% | 30.2% | 30.6% |
| Median year homes were built | 1997 | 1972 | 1980 |
| Vacant homes | 1.3% | 11.8% | 10.1% |
| Population | 4,521 | 10,077,761 | 334,922,499 |
What a typical home costs per month in Dexter
At this week's average 30-year rate of 7.11%, buying the median Dexter home of $421,000 with 20% down costs about $2,988 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,690, 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 $128,074 for the 20%-down payment. That payment is 34% of the median Dexter household income of $106,637; at that income and 20% down, the 28% guideline points to a home of about $351,000.
The median rent here is $1,761 a month, so owning the median home costs about $1,227 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $84,200 |
|---|---|
| Loan amount | $336,800 |
| Principal and interest | $2,266 |
| Property taxes (1.56% a year) | $547 |
| Homeowners insurance (our estimate, 0.5% a year) | $175 |
| PMI | $0 |
| Total per month | $2,988 |
Change the numbers in the calculator
| Down payment | $14,735 |
|---|---|
| Loan amount | $413,375 |
| Principal and interest | $2,781 |
| Property taxes (1.56% a year) | $547 |
| Homeowners insurance (our estimate, 0.5% a year) | $175 |
| FHA mortgage insurance | $186 |
| Total per month | $3,690 |
Change the numbers in the calculator
Questions about home buying in Dexter
What is the median home value in Dexter?
About $421,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Dexter?
Homeowners pay a median $6,552 a year, which is about 1.56% 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 Dexter?
For the median home with 20% down at 7.11%, the payment is about $2,988 a month. Keeping that under 28% of gross income takes about $128,074 a year.
More about Dexter
- Mortgage Refinance in Dexter
- Debt Relief in Dexter
- Home Equity Loans in Dexter
- 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