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Detroit Mortgage Calculator

Estimate your true cost of homeownership in Detroit with localized property taxes, insurance, and utility data.

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Est. Total Monthly Cost
$1,888
P&I Payment$842
Taxes & Ins$874
Utilities$172
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Mortgage Details

$158,800
Local Median: $158,800
$31,760 (20%)
%

Used with your down payment to fetch a live, scenario-specific rate.

Local Area Costs

Monthly$1,888

Monthly Breakdown

Principal & Interest
$842
Property Taxes
$101
Homeowners Ins.
$774
Utilities
$172

Amortization Schedule

Loan balance and total interest paid over 30 years.

Total Interest
$176,250

Local Housing Facts for Detroit

  • ·Median home value: $158,800 (adjusted for current market conditions)
  • ·Est. property taxes: $1,206/yr — pre-loaded from county assessment data
  • ·Homeowners insurance (HO-3): $9,284/yr — based on local per-$1K premium rates
  • ·Energy utilities: $2,060/yr — sourced from DOE LEAD survey data
  • ·Flood insurance: optional — toggled off by default, estimate based on FEMA risk profile

Frequently Asked Questions

How much are property taxes in Detroit?

Based on the local median home value, estimated real estate property taxes in Detroit are around $1,206 per year.

What is the average home price in Detroit?

The median home value in Detroit is currently estimated at $158,800.

How much does homeowners insurance cost in Detroit?

For a median priced home, homeowners insurance in Detroit averages around $9,284 annually.

What is the true total cost of owning a home in Detroit?

True homeownership costs go beyond principal and interest. In Detroit, a typical homeowner with a median-priced home of $158,800 can expect to pay roughly $1,206/yr in property taxes, $9,284/yr for homeowners insurance, and $2,060/yr in energy utilities. That adds approximately $1,046 per month in ongoing costs on top of your mortgage payment. Use our calculator above to model your exact all-in monthly cost.