Total monthly cost of ownership
Cost to Own a Home in Bay City, Michigan
A $90,000 home here costs
$980per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $463. The real number is $517 higher every month — 112% 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.
Bay City against Bay County and Michigan
| Measure | Bay City | Bay County |
|---|---|---|
| Median home value | $89,900 | $135,100 |
| Median property tax | $1,710 | $2,205 |
| Effective tax rate | 1.902% | 1.632% |
| Median gross rent | $739 | $809 |
| Population | 32,445 | 103,235 |
The weather behind that power bill
Bay City sits in Bay County, which averages a high of 82.2°F in its hottest month and a low of 16.4°F in its coldest, with 32.12" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 631 cooling and 6,782 heating degree days, which is what sets the $198 electricity line above.
See the full climate breakdown for Bay County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Bay County
Common questions
How much does it cost to own a home in Bay City?
A $90,000 home in Bay City, Michigan costs approximately $980 per month with 20% down at 6.66%. That is $463 principal and interest, $143 property tax, $34 homeowners insurance, $266 utilities and $75 set aside for maintenance.
What is the property tax rate in Bay City?
Bay City has an effective property tax rate of 1.902%, based on a median home value of $89,900 and median real estate taxes of $1,710. That is higher than the Bay County average of 1.632%.
What is the average home price in Bay City?
The median owner-occupied home value in Bay City, Michigan is $89,900, against $135,100 across Bay County.
Is it cheaper to rent or buy in Bay City?
Median gross rent in Bay City is $739 a month, against $980 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 Bay City — 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.