Total monthly cost of ownership
Cost to Own a Home in Imlay City, Michigan
A $138,000 home here costs
$1,318per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $709. The real number is $609 higher every month — 86% 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.
Imlay City against Lapeer County and Michigan
| Measure | Imlay City | Lapeer County |
|---|---|---|
| Median home value | $137,800 | $229,100 |
| Median property tax | $2,115 | $2,185 |
| Effective tax rate | 1.535% | 0.954% |
| Median gross rent | $764 | $959 |
| Population | 3,706 | 88,703 |
The weather behind that power bill
Imlay City sits in Lapeer County, which averages a high of 82.4°F in its hottest month and a low of 15.1°F in its coldest, with 31.89" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 571 cooling and 6,942 heating degree days, which is what sets the $198 electricity line above.
See the full climate breakdown for Lapeer County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Lapeer County
Full Lapeer County cost breakdown · Every county in Michigan
Common questions
How much does it cost to own a home in Imlay City?
A $138,000 home in Imlay City, Michigan costs approximately $1,318 per month with 20% down at 6.66%. That is $709 principal and interest, $177 property tax, $52 homeowners insurance, $266 utilities and $115 set aside for maintenance.
What is the property tax rate in Imlay City?
Imlay City has an effective property tax rate of 1.535%, based on a median home value of $137,800 and median real estate taxes of $2,115. That is higher than the Lapeer County average of 0.954%.
What is the average home price in Imlay City?
The median owner-occupied home value in Imlay City, Michigan is $137,800, against $229,100 across Lapeer County.
Is it cheaper to rent or buy in Imlay City?
Median gross rent in Imlay City is $764 a month, against $1,318 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 Imlay City — 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.