Total monthly cost of ownership
Cost to Own a Home in Chelsea, Michigan
A $301,000 home here costs
$2,569per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,547. The real number is $1,022 higher every month — 66% 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.
Chelsea against Washtenaw County and Michigan
| Measure | Chelsea | Washtenaw County |
|---|---|---|
| Median home value | $301,100 | $353,000 |
| Median property tax | $4,712 | $5,505 |
| Effective tax rate | 1.565% | 1.559% |
| Median gross rent | $1,543 | $1,400 |
| Population | 5,420 | 368,394 |
The weather behind that power bill
Chelsea sits in Washtenaw County, which averages a high of 83.8°F in its hottest month and a low of 15.2°F in its coldest, with 29.78" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 520 cooling and 6,742 heating degree days, which is what sets the $198 electricity line above.
See the full climate breakdown for Washtenaw County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Washtenaw County
Full Washtenaw County cost breakdown · Every county in Michigan
Common questions
How much does it cost to own a home in Chelsea?
A $301,000 home in Chelsea, Michigan costs approximately $2,569 per month with 20% down at 6.66%. That is $1,547 principal and interest, $393 property tax, $112 homeowners insurance, $266 utilities and $251 set aside for maintenance.
What is the property tax rate in Chelsea?
Chelsea has an effective property tax rate of 1.565%, based on a median home value of $301,100 and median real estate taxes of $4,712. That is in line with the Washtenaw County average of 1.559%.
What is the average home price in Chelsea?
The median owner-occupied home value in Chelsea, Michigan is $301,100, against $353,000 across Washtenaw County.
Is it cheaper to rent or buy in Chelsea?
Median gross rent in Chelsea is $1,543 a month, against $2,569 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 Chelsea — 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.