Total monthly cost of ownership
Cost to Own a Home in Chums Corner, Michigan
A $279,000 home here costs
$2,241per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,434. The real number is $807 higher every month — 56% 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.
Chums Corner against Grand Traverse County and Michigan
| Measure | Chums Corner | Grand Traverse County |
|---|---|---|
| Median home value | $279,200 | $296,200 |
| Median property tax | $2,452 | $2,900 |
| Effective tax rate | 0.878% | 0.979% |
| Median gross rent | — | $1,215 |
| Population | 1,012 | 95,757 |
The weather behind that power bill
Chums Corner sits in Grand Traverse County, which averages a high of 81.3°F in its hottest month and a low of 16.3°F in its coldest, with 29.12" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 534 cooling and 7,104 heating degree days, which is what sets the $198 electricity line above.
See the full climate breakdown for Grand Traverse County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Grand Traverse County
Full Grand Traverse County cost breakdown · Every county in Michigan
Common questions
How much does it cost to own a home in Chums Corner?
A $279,000 home in Chums Corner, Michigan costs approximately $2,241 per month with 20% down at 6.66%. That is $1,434 principal and interest, $204 property tax, $104 homeowners insurance, $266 utilities and $233 set aside for maintenance.
What is the property tax rate in Chums Corner?
Chums Corner has an effective property tax rate of 0.878%, based on a median home value of $279,200 and median real estate taxes of $2,452. That is lower than the Grand Traverse County average of 0.979%.
What is the average home price in Chums Corner?
The median owner-occupied home value in Chums Corner, Michigan is $279,200, against $296,200 across Grand Traverse County.
Is it cheaper to rent or buy in Chums Corner?
Rent data is not published for Chums Corner at this level of detail.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Chums Corner — 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.