Total monthly cost of ownership
Cost to Own a Home in Luna Pier, Michigan
A $176,000 home here costs
$1,549per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $905. The real number is $644 higher every month — 71% 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.
Luna Pier against Monroe County and Michigan
| Measure | Luna Pier | Monroe County |
|---|---|---|
| Median home value | $176,000 | $215,700 |
| Median property tax | $1,993 | $2,492 |
| Effective tax rate | 1.132% | 1.155% |
| Median gross rent | $397 | $1,017 |
| Population | 1,204 | 155,001 |
The weather behind that power bill
Luna Pier sits in Monroe County, which averages a high of 83.7°F in its hottest month and a low of 19.2°F in its coldest, with 34.32" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 847 cooling and 6,067 heating degree days, which is what sets the $198 electricity line above.
See the full climate breakdown for Monroe County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Monroe County
Full Monroe County cost breakdown · Every county in Michigan
Common questions
How much does it cost to own a home in Luna Pier?
A $176,000 home in Luna Pier, Michigan costs approximately $1,549 per month with 20% down at 6.66%. That is $905 principal and interest, $166 property tax, $66 homeowners insurance, $266 utilities and $147 set aside for maintenance.
What is the property tax rate in Luna Pier?
Luna Pier has an effective property tax rate of 1.132%, based on a median home value of $176,000 and median real estate taxes of $1,993. That is lower than the Monroe County average of 1.155%.
What is the average home price in Luna Pier?
The median owner-occupied home value in Luna Pier, Michigan is $176,000, against $215,700 across Monroe County.
Is it cheaper to rent or buy in Luna Pier?
Median gross rent in Luna Pier is $397 a month, against $1,549 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 Luna Pier — 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.