Total monthly cost of ownership
Cost to Own a Home in Allen Park, Michigan
A $175,000 home here costs
$1,654per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $900. The real number is $754 higher every month — 84% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Allen Park against Wayne County and Michigan
| Measure | Allen Park | Wayne County |
|---|---|---|
| Median home value | $174,500 | $170,200 |
| Median property tax | $3,312 | $2,794 |
| Effective tax rate | 1.898% | 1.642% |
| Median gross rent | $1,181 | $1,087 |
| Population | 28,128 | 1,773,767 |
The weather behind that power bill
Allen Park sits in Wayne County, which averages a high of 83.7°F in its hottest month and a low of 19.2°F in its coldest, with 34.32" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 847 cooling and 6,067 heating degree days, which is what sets the $198 electricity line above.
See the full climate breakdown for Wayne County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Wayne County
Common questions
How much does it cost to own a home in Allen Park?
A $175,000 home in Allen Park, Michigan costs approximately $1,654 per month with 20% down at 6.66%. That is $900 principal and interest, $277 property tax, $65 homeowners insurance, $266 utilities and $146 set aside for maintenance.
What is the property tax rate in Allen Park?
Allen Park has an effective property tax rate of 1.898%, based on a median home value of $174,500 and median real estate taxes of $3,312. That is higher than the Wayne County average of 1.642%.
What is the average home price in Allen Park?
The median owner-occupied home value in Allen Park, Michigan is $174,500, against $170,200 across Wayne County.
Is it cheaper to rent or buy in Allen Park?
Median gross rent in Allen Park is $1,181 a month, against $1,654 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Allen Park — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Michigan.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.