The typical owner-occupied home in Plymouth is worth about $448,600, 94% above the Michigan median of $231,600 and 35% above the national median of $332,700. Owners pay a median $6,827 a year in property taxes, about 1.52% of their home's value, higher than the Michigan rate of 1.25%. The median household earns $112,145 a year, so the median home costs 4.0 times the median income (3.2 times for Michigan). 69% of occupied homes here are lived in by their owners, and 65% of those owners still have a mortgage.
Plymouth at a glance
| Plymouth | Michigan | U.S. | |
|---|---|---|---|
| Median home value | $448,600 | $231,600 | $332,700 |
| Median property tax paid per year | $6,827 | $2,904 | $3,119 |
| Property tax as a share of value | 1.52% | 1.25% | 0.94% |
| Median household income | $112,145 | $72,875 | $80,734 |
| Homes lived in by their owners | 69% | 73% | 65% |
| Owner homes with a mortgage | 65% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $2,429 | $1,569 | $1,963 |
| Those costs as a share of the owners' income | 18.1% | 19.3% | 21.0% |
| Median rent | $1,217 | $1,129 | $1,413 |
| Rent as a share of renters' income | 23.6% | 30.2% | 30.6% |
| Median year homes were built | 1961 | 1972 | 1980 |
| Vacant homes | 5.1% | 11.8% | 10.1% |
| Population | 9,214 | 10,077,761 | 334,922,499 |
What a typical home costs per month in Plymouth
At this week's average 30-year rate of 7.11%, buying the median Plymouth home of $448,600 with 20% down costs about $3,169 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,917, 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 $135,829 for the 20%-down payment. That payment is 34% of the median Plymouth household income of $112,145; at that income and 20% down, the 28% guideline points to a home of about $370,000.
The median rent here is $1,217 a month, so owning the median home costs about $1,952 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $89,720 |
|---|---|
| Loan amount | $358,880 |
| Principal and interest | $2,414 |
| Property taxes (1.52% a year) | $568 |
| Homeowners insurance (our estimate, 0.5% a year) | $187 |
| PMI | $0 |
| Total per month | $3,169 |
Change the numbers in the calculator
| Down payment | $15,701 |
|---|---|
| Loan amount | $440,475 |
| Principal and interest | $2,963 |
| Property taxes (1.52% a year) | $568 |
| Homeowners insurance (our estimate, 0.5% a year) | $187 |
| FHA mortgage insurance | $198 |
| Total per month | $3,917 |
Change the numbers in the calculator
Questions about home buying in Plymouth
What is the median home value in Plymouth?
About $448,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Plymouth?
Homeowners pay a median $6,827 a year, which is about 1.52% 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 Plymouth?
For the median home with 20% down at 7.11%, the payment is about $3,169 a month. Keeping that under 28% of gross income takes about $135,829 a year.
More about Plymouth
- Mortgage Refinance in Plymouth
- Debt Relief in Plymouth
- Home Equity Loans in Plymouth
- 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