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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
$1,067
P&I Payment$689
Taxes & Ins$178
Utilities$200

Mortgage Details

$127,934
Local Median: $127,934
$25,587 (20%)
%

Local Area Costs

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Monthly$1,067

Monthly Breakdown

Principal & Interest
$689
Property Taxes
$133
Homeowners Ins.
$44
Est. Utilities
$200

Amortization Schedule

Loan balance and total interest paid over 30 years.

Total Interest
$145,810

Local Housing Facts for Detroit

  • ·Median home value: $127,934 (adjusted for current market conditions)
  • ·Est. property taxes: $1,599/yr — pre-loaded from county assessment data
  • ·Homeowners insurance (HO-3): $532/yr — based on local per-$1K premium rates
  • ·Energy utilities: $2,400/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 $1,599 per year.

What is the average home price in Detroit?

The median home value in Detroit is currently estimated at $127,934.

How much does homeowners insurance cost in Detroit?

For a median priced home, homeowners insurance in Detroit averages around $532 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 $127,934 can expect to pay roughly $1,599/yr in property taxes, $532/yr for homeowners insurance, and $2,400/yr in energy utilities. That adds approximately $378 per month in ongoing costs on top of your mortgage payment. Use our calculator above to model your exact all-in monthly cost.