The typical home in Ann Arbor, MI is worth about $440,000.
With 20% down that's a loan near $352,000 — the calculator
is pre-filled with that figure. The University of Michigan makes Ann Arbor the most expensive housing market in the state by a wide margin, with a research-and-biotech corridor adding high-paying jobs beyond the university itself. Washtenaw County's property tax rate runs above the Michigan average, layering onto prices that are already well above the rest of the state.
$2,285.41 / month
Total interest
$470,743
Total paid
$822,743
Payoff
30.0 years
How much you need to earn
Ann Arbor, MI's median household income is about
$90,000 a year. Under standard 28/36
lending rules that supports a home price around
$300,035 with 20% down —
below the $440,000 typical price, so many buyers need a larger down payment, a co-borrower, or a longer commute.
Typical asking rent in Ann Arbor, MI is about $2,100 a month, so owning the median home costs roughly
$909 more per month before tax
effects, maintenance, and any change in home value.
Frequently asked questions
What is a typical mortgage payment in Ann Arbor, MI?
On the metro's roughly $440,000 typical home with 20% down, the loan is about $352,000. Principal and interest run near $2,285 a month at today's rate, and Ann Arbor, MI's property tax plus insurance add about $723, for a full payment near $3,009.
Can I afford a home in Ann Arbor, MI on the median income?
The median household income is about $90,000 a year. Under standard 28/36 lending rules that supports a home price around $300,035 with 20% down — below the $440,000 typical price, so buyers often need a larger down payment or a co-borrower.
Is it cheaper to rent or buy in Ann Arbor, MI?
Typical asking rent is about $2,100 a month. The full owner payment on a median home is near $3,009, so owning costs roughly $909 more per month before tax effects, maintenance, and any appreciation.
How much are property taxes in Ann Arbor, MI?
The effective property tax rate in the core county is about 1.70% of market value — roughly $7,480 a year on the typical home. Your exact rate depends on the municipality and any exemptions.
Are home prices in Ann Arbor, MI rising or falling?
Home values are up about 3% over the past year. The University of Michigan makes Ann Arbor the most expensive housing market in the state by a wide margin, with a research-and-biotech corridor adding high-paying jobs beyond the university itself. Washtenaw County's property tax rate runs above the Michigan average, layering onto prices that are already well above the rest of the state.