Total monthly cost of ownership
Cost to Own a Home in Essexville, Michigan
A $121,000 home here costs
$1,236per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $622. The real number is $614 higher every month — 99% 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.
Essexville against Bay County and Michigan
| Measure | Essexville | Bay County |
|---|---|---|
| Median home value | $121,200 | $135,100 |
| Median property tax | $2,431 | $2,205 |
| Effective tax rate | 2.006% | 1.632% |
| Median gross rent | $707 | $809 |
| Population | 3,344 | 103,235 |
The weather behind that power bill
Essexville sits in Bay 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 Bay County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Bay County
Common questions
How much does it cost to own a home in Essexville?
A $121,000 home in Essexville, Michigan costs approximately $1,236 per month with 20% down at 6.66%. That is $622 principal and interest, $202 property tax, $45 homeowners insurance, $266 utilities and $101 set aside for maintenance.
What is the property tax rate in Essexville?
Essexville has an effective property tax rate of 2.006%, based on a median home value of $121,200 and median real estate taxes of $2,431. That is higher than the Bay County average of 1.632%.
What is the average home price in Essexville?
The median owner-occupied home value in Essexville, Michigan is $121,200, against $135,100 across Bay County.
Is it cheaper to rent or buy in Essexville?
Median gross rent in Essexville is $707 a month, against $1,236 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 Essexville — 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.