Total monthly cost of ownership
Cost to Own a Home in Mason, Michigan
A $195,000 home here costs
$1,844per 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 $79,000 a year.
A standard mortgage calculator would have told you $1,063. The real number is $781 higher every month, 73% more than the payment most buyers budget for.
Compare Ingham County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Mason against Ingham County and Michigan
| Measure | Mason | Ingham County |
|---|---|---|
| Median home value | $194,600 | $187,500 |
| Median property tax | $4,015 | $3,488 |
| Effective tax rate | 2.063% | 1.860% |
| Median gross rent | $1,103 | $1,058 |
| Population | 8,239 | 282,015 |
The weather behind that power bill
Mason sits in Ingham County, which averages a high of 83.0°F in its hottest month and a low of 17.5°F in its coldest, with 34.32" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 707 cooling and 6,411 heating degree days, which is what sets the $142 electricity line above.
See the full climate breakdown for Ingham County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Ingham County
Full Ingham County cost breakdown · Every county in Michigan
Talk to someone who works this market
These are Mason 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 Mason every week. Free, no obligation, and we never sell your details to a list.
Common questions
How much does it cost to own a home in Mason?
A $195,000 home in Mason, Michigan costs approximately $1,844 per month with 20% down at 7.24%. That is $1,063 principal and interest, $335 property tax, $73 homeowners insurance, $210 utilities and $163 set aside for maintenance.
What is the property tax rate in Mason?
Mason has an effective property tax rate of 2.063%, based on a median home value of $194,600 and median real estate taxes of $4,015. That is higher than the Ingham County average of 1.860%.
What is the average home price in Mason?
The median owner-occupied home value in Mason, Michigan is $194,600, against $187,500 across Ingham County.
Is it cheaper to rent or buy in Mason?
Median gross rent in Mason is $1,103 a month, against $1,844 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Mason?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Mason, Michigan at today's rate takes a household income of roughly $79,000 a year. That covers the full $1,844 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Mason, 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.