Total monthly cost of ownership
Cost to Own a Home in Hillsdale, Michigan
A $131,000 home here costs
$1,246per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $673. The real number is $573 higher every month — 85% 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.
Hillsdale against Hillsdale County and Michigan
| Measure | Hillsdale | Hillsdale County |
|---|---|---|
| Median home value | $131,300 | $170,500 |
| Median property tax | $1,792 | $1,644 |
| Effective tax rate | 1.365% | 0.964% |
| Median gross rent | $801 | $801 |
| Population | 8,013 | 45,658 |
The weather behind that power bill
Hillsdale sits in Hillsdale County, which averages a high of 82.5°F in its hottest month and a low of 15.1°F in its coldest, with 39.54" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 594 cooling and 6,797 heating degree days, which is what sets the $198 electricity line above.
See the full climate breakdown for Hillsdale County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Hillsdale County
Full Hillsdale County cost breakdown · Every county in Michigan
Common questions
How much does it cost to own a home in Hillsdale?
A $131,000 home in Hillsdale, Michigan costs approximately $1,246 per month with 20% down at 6.66%. That is $673 principal and interest, $149 property tax, $49 homeowners insurance, $266 utilities and $109 set aside for maintenance.
What is the property tax rate in Hillsdale?
Hillsdale has an effective property tax rate of 1.365%, based on a median home value of $131,300 and median real estate taxes of $1,792. That is higher than the Hillsdale County average of 0.964%.
What is the average home price in Hillsdale?
The median owner-occupied home value in Hillsdale, Michigan is $131,300, against $170,500 across Hillsdale County.
Is it cheaper to rent or buy in Hillsdale?
Median gross rent in Hillsdale is $801 a month, against $1,246 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 Hillsdale — 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.