Total monthly cost of ownership
Cost to Own a Home in Lapeer, Michigan
A $165,000 home here costs
$1,479per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $848. The real number is $631 higher every month — 74% 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.
Lapeer against Lapeer County and Michigan
| Measure | Lapeer | Lapeer County |
|---|---|---|
| Median home value | $165,300 | $229,100 |
| Median property tax | $1,994 | $2,185 |
| Effective tax rate | 1.206% | 0.954% |
| Median gross rent | $947 | $959 |
| Population | 9,053 | 88,703 |
The weather behind that power bill
Lapeer 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 Lapeer?
A $165,000 home in Lapeer, Michigan costs approximately $1,479 per month with 20% down at 6.66%. That is $848 principal and interest, $166 property tax, $62 homeowners insurance, $266 utilities and $138 set aside for maintenance.
What is the property tax rate in Lapeer?
Lapeer has an effective property tax rate of 1.206%, based on a median home value of $165,300 and median real estate taxes of $1,994. That is higher than the Lapeer County average of 0.954%.
What is the average home price in Lapeer?
The median owner-occupied home value in Lapeer, Michigan is $165,300, against $229,100 across Lapeer County.
Is it cheaper to rent or buy in Lapeer?
Median gross rent in Lapeer is $947 a month, against $1,479 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 Lapeer — 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.