Total monthly cost of ownership
Cost to Own a Home in Houghton Lake, Michigan
A $123,000 home here costs
$1,140per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $49,000 a year.
A standard mortgage calculator would have told you $671. The real number is $469 higher every month, 70% more than the payment most buyers budget for.
Compare Roscommon County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Houghton Lake against Roscommon County and Michigan
| Measure | Houghton Lake | Roscommon County |
|---|---|---|
| Median home value | $122,800 | $148,000 |
| Median property tax | $1,329 | $1,552 |
| Effective tax rate | 1.082% | 1.049% |
| Median gross rent | $791 | $789 |
| Population | 5,761 | 23,639 |
The weather behind that power bill
Houghton Lake sits in Roscommon County, which averages a high of 80.5°F in its hottest month and a low of 11.0°F in its coldest, with 29.59" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 337 cooling and 7,898 heating degree days, which is what sets the $142 electricity line above.
See the full climate breakdown for Roscommon County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Roscommon County
Full Roscommon County cost breakdown · Every county in Michigan
Talk to someone who works this market
These are Houghton Lake averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Houghton Lake every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Houghton Lake I already own here and may sell
Common questions
How much does it cost to own a home in Houghton Lake?
A $123,000 home in Houghton Lake, Michigan costs approximately $1,140 per month with 20% down at 7.24%. That is $671 principal and interest, $111 property tax, $46 homeowners insurance, $210 utilities and $103 set aside for maintenance.
What is the property tax rate in Houghton Lake?
Houghton Lake has an effective property tax rate of 1.082%, based on a median home value of $122,800 and median real estate taxes of $1,329. That is higher than the Roscommon County average of 1.049%.
What is the average home price in Houghton Lake?
The median owner-occupied home value in Houghton Lake, Michigan is $122,800, against $148,000 across Roscommon County.
Is it cheaper to rent or buy in Houghton Lake?
Median gross rent in Houghton Lake is $791 a month, against $1,140 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Houghton Lake?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Houghton Lake, Michigan at today's rate takes a household income of roughly $49,000 a year. That covers the full $1,140 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Houghton Lake, 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.