Total monthly cost of ownership
Cost to Own a Home in Lamont, Michigan
A $469,000 home here costs
$3,790per 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 $162,500 a year.
A standard mortgage calculator would have told you $2,557. The real number is $1,233 higher every month, 48% more than the payment most buyers budget for.
Compare Ottawa County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Lamont from a five-year rolling sample, and with about 1,078 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 Ottawa 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.
Lamont against Ottawa County and Michigan
| Measure | Lamont | Ottawa County |
|---|---|---|
| Median home value | $469,200 | $291,200 |
| Median property tax | $5,490 | $3,078 |
| Effective tax rate | 1.170% | 1.057% |
| Median gross rent | — | $1,148 |
| Population | 1,078 | 298,614 |
The weather behind that power bill
Lamont sits in Ottawa County, which averages a high of 80.0°F in its hottest month and a low of 19.3°F in its coldest, with 37.64" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 534 cooling and 6,586 heating degree days, which is what sets the $142 electricity line above.
See the full climate breakdown for Ottawa County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Ottawa County
Full Ottawa County cost breakdown · Every county in Michigan
Talk to someone who works this market
These are Lamont 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 Lamont every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Lamont I already own here and may sell
Common questions
How much does it cost to own a home in Lamont?
A $469,000 home in Lamont, Michigan costs approximately $3,790 per month with 20% down at 7.24%. That is $2,557 principal and interest, $457 property tax, $175 homeowners insurance, $210 utilities and $391 set aside for maintenance.
What is the property tax rate in Lamont?
Lamont has an effective property tax rate of 1.170%, based on a median home value of $469,200 and median real estate taxes of $5,490. That is higher than the Ottawa County average of 1.057%.
What is the average home price in Lamont?
The median owner-occupied home value in Lamont, Michigan is $469,200, against $291,200 across Ottawa County.
Is it cheaper to rent or buy in Lamont?
Rent data is not published for Lamont at this level of detail.
What salary do you need to buy a home in Lamont?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Lamont, Michigan at today's rate takes a household income of roughly $162,500 a year. That covers the full $3,790 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Lamont, 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.