Total monthly cost of ownership
Cost to Own a Home in Ionia, Michigan
A $161,000 home here costs
$1,446per 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 $62,000 a year.
A standard mortgage calculator would have told you $878. The real number is $568 higher every month, 65% more than the payment most buyers budget for.
Compare Ionia 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.
Ionia against Ionia County and Michigan
| Measure | Ionia | Ionia County |
|---|---|---|
| Median home value | $161,100 | $189,400 |
| Median property tax | $1,966 | $2,211 |
| Effective tax rate | 1.220% | 1.167% |
| Median gross rent | $789 | $840 |
| Population | 12,950 | 66,706 |
The weather behind that power bill
Ionia sits in Ionia County, which averages a high of 80.9°F in its hottest month and a low of 15.6°F in its coldest, with 35.92" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 546 cooling and 7,039 heating degree days, which is what sets the $142 electricity line above.
See the full climate breakdown for Ionia County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Ionia County
Talk to someone who works this market
These are Ionia 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 Ionia every week. Free, no obligation, and we never sell your details to a list.
Common questions
How much does it cost to own a home in Ionia?
A $161,000 home in Ionia, Michigan costs approximately $1,446 per month with 20% down at 7.24%. That is $878 principal and interest, $164 property tax, $60 homeowners insurance, $210 utilities and $134 set aside for maintenance.
What is the property tax rate in Ionia?
Ionia has an effective property tax rate of 1.220%, based on a median home value of $161,100 and median real estate taxes of $1,966. That is higher than the Ionia County average of 1.167%.
What is the average home price in Ionia?
The median owner-occupied home value in Ionia, Michigan is $161,100, against $189,400 across Ionia County.
Is it cheaper to rent or buy in Ionia?
Median gross rent in Ionia is $789 a month, against $1,446 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 Ionia?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Ionia, Michigan at today's rate takes a household income of roughly $62,000 a year. That covers the full $1,446 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Ionia, 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.