Total monthly cost of ownership
Cost to Own a Home in Manistee, Michigan
A $144,000 home here costs
$1,337per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $740. The real number is $597 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.
Manistee against Manistee County and Michigan
| Measure | Manistee | Manistee County |
|---|---|---|
| Median home value | $144,400 | $166,600 |
| Median property tax | $1,890 | $1,814 |
| Effective tax rate | 1.309% | 1.089% |
| Median gross rent | $771 | $820 |
| Population | 6,275 | 25,247 |
The weather behind that power bill
Manistee sits in Manistee County, which averages a high of 79.7°F in its hottest month and a low of 18.6°F in its coldest, with 36.34" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 493 cooling and 6,848 heating degree days, which is what sets the $198 electricity line above.
See the full climate breakdown for Manistee County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Manistee County
No other places of this size are published in Manistee County.
Full Manistee County cost breakdown · Every county in Michigan
Common questions
How much does it cost to own a home in Manistee?
A $144,000 home in Manistee, Michigan costs approximately $1,337 per month with 20% down at 6.66%. That is $740 principal and interest, $157 property tax, $54 homeowners insurance, $266 utilities and $120 set aside for maintenance.
What is the property tax rate in Manistee?
Manistee has an effective property tax rate of 1.309%, based on a median home value of $144,400 and median real estate taxes of $1,890. That is higher than the Manistee County average of 1.089%.
What is the average home price in Manistee?
The median owner-occupied home value in Manistee, Michigan is $144,400, against $166,600 across Manistee County.
Is it cheaper to rent or buy in Manistee?
Median gross rent in Manistee is $771 a month, against $1,337 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 Manistee — 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.