Total monthly cost of ownership
Cost to Own a Home in Lakeview, Michigan
A $153,000 home here costs
$1,424per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $787. The real number is $637 higher every month — 81% 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.
Lakeview against Montcalm County and Michigan
| Measure | Lakeview | Montcalm County |
|---|---|---|
| Median home value | $152,900 | $172,100 |
| Median property tax | $2,240 | $1,851 |
| Effective tax rate | 1.465% | 1.076% |
| Median gross rent | $507 | $867 |
| Population | 1,049 | 67,174 |
The weather behind that power bill
Lakeview sits in Montcalm County, which averages a high of 84.3°F in its hottest month and a low of 12.9°F in its coldest, with 36.65" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 520 cooling and 7,060 heating degree days, which is what sets the $198 electricity line above.
See the full climate breakdown for Montcalm County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Montcalm County
Full Montcalm County cost breakdown · Every county in Michigan
Common questions
How much does it cost to own a home in Lakeview?
A $153,000 home in Lakeview, Michigan costs approximately $1,424 per month with 20% down at 6.66%. That is $787 principal and interest, $187 property tax, $57 homeowners insurance, $266 utilities and $128 set aside for maintenance.
What is the property tax rate in Lakeview?
Lakeview has an effective property tax rate of 1.465%, based on a median home value of $152,900 and median real estate taxes of $2,240. That is higher than the Montcalm County average of 1.076%.
What is the average home price in Lakeview?
The median owner-occupied home value in Lakeview, Michigan is $152,900, against $172,100 across Montcalm County.
Is it cheaper to rent or buy in Lakeview?
Median gross rent in Lakeview is $507 a month, against $1,424 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 Lakeview — 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.