The typical owner-occupied home in Bay City is worth about $393,600, 18% below the Oregon median of $477,600 and 18% above the national median of $332,700. Owners pay a median $1,901 a year in property taxes, about 0.48% of their home's value, lower than the Oregon rate of 0.81%. The median household earns $82,589 a year, so the median home costs 4.8 times the median income (5.8 times for Oregon). 80% of occupied homes here are lived in by their owners, and 71% of those owners still have a mortgage.
Bay City at a glance
| Bay City | Oregon | U.S. | |
|---|---|---|---|
| Median home value | $393,600 | $477,600 | $332,700 |
| Median property tax paid per year | $1,901 | $3,876 | $3,119 |
| Property tax as a share of value | 0.48% | 0.81% | 0.94% |
| Median household income | $82,589 | $83,011 | $80,734 |
| Homes lived in by their owners | 80% | 63% | 65% |
| Owner homes with a mortgage | 71% | 65% | 61% |
| Median monthly costs, owners with a mortgage | $1,632 | $2,157 | $1,963 |
| Those costs as a share of the owners' income | 19.5% | 22.4% | 21.0% |
| Median rent | $1,221 | $1,525 | $1,413 |
| Rent as a share of renters' income | 26.2% | 31.3% | 30.6% |
| Median year homes were built | 1978 | 1981 | 1980 |
| Vacant homes | 11.5% | 7.5% | 10.1% |
| Population | 1,875 | 4,254,293 | 334,922,499 |
What a typical home costs per month in Bay City
At this week's average 30-year rate of 7.11%, buying the median Bay City home of $393,600 with 20% down costs about $2,440 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,095, 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 $104,557 for the 20%-down payment. That payment is 35% of the median Bay City household income of $82,589; at that income and 20% down, the 28% guideline points to a home of about $311,000.
The median rent here is $1,221 a month, so owning the median home costs about $1,219 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $78,720 |
|---|---|
| Loan amount | $314,880 |
| Principal and interest | $2,118 |
| Property taxes (0.48% a year) | $157 |
| Homeowners insurance (our estimate, 0.5% a year) | $164 |
| PMI | $0 |
| Total per month | $2,440 |
Change the numbers in the calculator
| Down payment | $13,776 |
|---|---|
| Loan amount | $386,471 |
| Principal and interest | $2,600 |
| Property taxes (0.48% a year) | $157 |
| Homeowners insurance (our estimate, 0.5% a year) | $164 |
| FHA mortgage insurance | $174 |
| Total per month | $3,095 |
Change the numbers in the calculator
Questions about home buying in Bay City
What is the median home value in Bay City?
About $393,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Bay City?
Homeowners pay a median $1,901 a year, which is about 0.48% 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 Bay City?
For the median home with 20% down at 7.11%, the payment is about $2,440 a month. Keeping that under 28% of gross income takes about $104,557 a year.
More about Bay City
- Mortgage Refinance in Bay City
- Debt Relief in Bay City
- Home Equity Loans in Bay City
- 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