Total monthly cost of ownership
Cost to Own a Home in Lakes of the North, Michigan
A $170,000 home here costs
$1,465per 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 $63,000 a year.
A standard mortgage calculator would have told you $927. The real number is $538 higher every month, 58% more than the payment most buyers budget for.
Compare Antrim County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Lakes of the North from a five-year rolling sample, and with about 1,076 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Antrim County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Lakes of the North against Antrim County and Michigan
| Measure | Lakes of the North | Antrim County |
|---|---|---|
| Median home value | $169,600 | $222,500 |
| Median property tax | $1,475 | $2,033 |
| Effective tax rate | 0.870% | 0.914% |
| Median gross rent | — | $920 |
| Population | 1,076 | 23,876 |
The weather behind that power bill
Lakes of the North sits in Antrim County, which averages a high of 82.6°F in its hottest month and a low of 14.2°F in its coldest, with 32.84" of precipitation a year and 35% of it in a single three-month stretch. That climate drives 436 cooling and 7,202 heating degree days, which is what sets the $142 electricity line above.
See the full climate breakdown for Antrim County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Antrim County
Full Antrim County cost breakdown · Every county in Michigan
Talk to someone who works this market
These are Lakes of the North 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 Lakes of the North every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Lakes of the North I already own here and may sell
Common questions
How much does it cost to own a home in Lakes of the North?
A $170,000 home in Lakes of the North, Michigan costs approximately $1,465 per month with 20% down at 7.24%. That is $927 principal and interest, $123 property tax, $63 homeowners insurance, $210 utilities and $142 set aside for maintenance.
What is the property tax rate in Lakes of the North?
Lakes of the North has an effective property tax rate of 0.870%, based on a median home value of $169,600 and median real estate taxes of $1,475. That is lower than the Antrim County average of 0.914%.
What is the average home price in Lakes of the North?
The median owner-occupied home value in Lakes of the North, Michigan is $169,600, against $222,500 across Antrim County.
Is it cheaper to rent or buy in Lakes of the North?
Rent data is not published for Lakes of the North at this level of detail.
What salary do you need to buy a home in Lakes of the North?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Lakes of the North, Michigan at today's rate takes a household income of roughly $63,000 a year. That covers the full $1,465 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Lakes of the North, 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.