Total monthly cost of ownership
Cost to Own a Home in Boyne City, Michigan
A $234,000 home here costs
$2,008per 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 $86,000 a year.
A standard mortgage calculator would have told you $1,276. The real number is $732 higher every month, 57% more than the payment most buyers budget for.
Compare Charlevoix County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Boyne City from a five-year rolling sample, and with about 3,829 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Charlevoix County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Boyne City against Charlevoix County and Michigan
| Measure | Boyne City | Charlevoix County |
|---|---|---|
| Median home value | $233,900 | $242,800 |
| Median property tax | $2,877 | $2,408 |
| Effective tax rate | 1.230% | 0.992% |
| Median gross rent | $893 | $929 |
| Population | 3,829 | 26,143 |
The weather behind that power bill
Boyne City sits in Charlevoix County, which averages a high of 79.3°F in its hottest month and a low of 7.3°F in its coldest, with 30.01" of precipitation a year and 35% of it in a single three-month stretch. That climate drives 254 cooling and 8,391 heating degree days, which is what sets the $142 electricity line above.
See the full climate breakdown for Charlevoix County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Charlevoix County
Full Charlevoix County cost breakdown · Every county in Michigan
Talk to someone who works this market
These are Boyne City 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 Boyne City every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Boyne City I already own here and may sell
Common questions
How much does it cost to own a home in Boyne City?
A $234,000 home in Boyne City, Michigan costs approximately $2,008 per month with 20% down at 7.24%. That is $1,276 principal and interest, $240 property tax, $87 homeowners insurance, $210 utilities and $195 set aside for maintenance.
What is the property tax rate in Boyne City?
Boyne City has an effective property tax rate of 1.230%, based on a median home value of $233,900 and median real estate taxes of $2,877. That is higher than the Charlevoix County average of 0.992%.
What is the average home price in Boyne City?
The median owner-occupied home value in Boyne City, Michigan is $233,900, against $242,800 across Charlevoix County.
Is it cheaper to rent or buy in Boyne City?
Median gross rent in Boyne City is $893 a month, against $2,008 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 Boyne City?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Boyne City, Michigan at today's rate takes a household income of roughly $86,000 a year. That covers the full $2,008 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Boyne 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.