Total monthly cost of ownership
Cost to Own a Home in Coloma, Michigan
A $160,000 home here costs
$1,455per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $823. The real number is $633 higher every month — 77% 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.
Coloma against Berrien County and Michigan
| Measure | Coloma | Berrien County |
|---|---|---|
| Median home value | $160,400 | $211,400 |
| Median property tax | $2,090 | $2,357 |
| Effective tax rate | 1.303% | 1.115% |
| Median gross rent | $956 | $923 |
| Population | 1,051 | 153,411 |
The weather behind that power bill
Coloma sits in Berrien County, which averages a high of 82.7°F in its hottest month and a low of 17.0°F in its coldest, with 39.23" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 722 cooling and 6,400 heating degree days, which is what sets the $198 electricity line above.
See the full climate breakdown for Berrien County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Berrien County
Full Berrien County cost breakdown · Every county in Michigan
Common questions
How much does it cost to own a home in Coloma?
A $160,000 home in Coloma, Michigan costs approximately $1,455 per month with 20% down at 6.66%. That is $823 principal and interest, $174 property tax, $60 homeowners insurance, $266 utilities and $133 set aside for maintenance.
What is the property tax rate in Coloma?
Coloma has an effective property tax rate of 1.303%, based on a median home value of $160,400 and median real estate taxes of $2,090. That is higher than the Berrien County average of 1.115%.
What is the average home price in Coloma?
The median owner-occupied home value in Coloma, Michigan is $160,400, against $211,400 across Berrien County.
Is it cheaper to rent or buy in Coloma?
Median gross rent in Coloma is $956 a month, against $1,455 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 Coloma — 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.