Total monthly cost of ownership
Cost to Own a Home in Coleman, Michigan
A $88,000 home here costs
$952per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $452. The real number is $499 higher every month — 110% 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.
Coleman against Midland County and Michigan
| Measure | Coleman | Midland County |
|---|---|---|
| Median home value | $88,300 | $184,300 |
| Median property tax | $1,531 | $2,771 |
| Effective tax rate | 1.734% | 1.504% |
| Median gross rent | $607 | $974 |
| Population | 1,147 | 83,641 |
The weather behind that power bill
Coleman sits in Midland 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 Midland County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Midland County
No other places of this size are published in Midland County.
Full Midland County cost breakdown · Every county in Michigan
Common questions
How much does it cost to own a home in Coleman?
A $88,000 home in Coleman, Michigan costs approximately $952 per month with 20% down at 6.66%. That is $452 principal and interest, $127 property tax, $33 homeowners insurance, $266 utilities and $73 set aside for maintenance.
What is the property tax rate in Coleman?
Coleman has an effective property tax rate of 1.734%, based on a median home value of $88,300 and median real estate taxes of $1,531. That is higher than the Midland County average of 1.504%.
What is the average home price in Coleman?
The median owner-occupied home value in Coleman, Michigan is $88,300, against $184,300 across Midland County.
Is it cheaper to rent or buy in Coleman?
Median gross rent in Coleman is $607 a month, against $952 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 Coleman — 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.