Total monthly cost of ownership
Cost to Own a Home in Big Rapids, Michigan
A $134,000 home here costs
$1,297per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $55,500 a year.
A standard mortgage calculator would have told you $731. The real number is $567 higher every month, 78% more than the payment most buyers budget for.
Compare Mecosta County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Big Rapids against Mecosta County and Michigan
| Measure | Big Rapids | Mecosta County |
|---|---|---|
| Median home value | $134,200 | $169,900 |
| Median property tax | $2,343 | $1,692 |
| Effective tax rate | 1.746% | 0.996% |
| Median gross rent | $815 | $867 |
| Population | 7,847 | 40,321 |
The weather behind that power bill
Big Rapids sits in Mecosta County, which averages a high of 81.3°F in its hottest month and a low of 12.2°F in its coldest, with 37.92" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 404 cooling and 7,621 heating degree days, which is what sets the $142 electricity line above.
See the full climate breakdown for Mecosta County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Mecosta County
Full Mecosta County cost breakdown · Every county in Michigan
Talk to someone who works this market
These are Big Rapids averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Big Rapids every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Big Rapids I already own here and may sell
Common questions
How much does it cost to own a home in Big Rapids?
A $134,000 home in Big Rapids, Michigan costs approximately $1,297 per month with 20% down at 7.24%. That is $731 principal and interest, $195 property tax, $50 homeowners insurance, $210 utilities and $112 set aside for maintenance.
What is the property tax rate in Big Rapids?
Big Rapids has an effective property tax rate of 1.746%, based on a median home value of $134,200 and median real estate taxes of $2,343. That is higher than the Mecosta County average of 0.996%.
What is the average home price in Big Rapids?
The median owner-occupied home value in Big Rapids, Michigan is $134,200, against $169,900 across Mecosta County.
Is it cheaper to rent or buy in Big Rapids?
Median gross rent in Big Rapids is $815 a month, against $1,297 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Big Rapids?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Big Rapids, Michigan at today's rate takes a household income of roughly $55,500 a year. That covers the full $1,297 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Big Rapids, 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.