Total monthly cost of ownership
Cost to Own a Home in Menominee, Michigan
A $98,000 home here costs
$1,033per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $504. The real number is $529 higher every month — 105% 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.
Menominee against Menominee County and Michigan
| Measure | Menominee | Menominee County |
|---|---|---|
| Median home value | $97,800 | $142,700 |
| Median property tax | $1,738 | $1,470 |
| Effective tax rate | 1.777% | 1.030% |
| Median gross rent | $700 | $675 |
| Population | 8,370 | 23,295 |
The weather behind that power bill
Menominee sits in Menominee County, which averages a high of 76.6°F in its hottest month and a low of 8.1°F in its coldest, with 28.84" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 208 cooling and 8,498 heating degree days, which is what sets the $198 electricity line above.
See the full climate breakdown for Menominee County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Menominee County
No other places of this size are published in Menominee County.
Full Menominee County cost breakdown · Every county in Michigan
Common questions
How much does it cost to own a home in Menominee?
A $98,000 home in Menominee, Michigan costs approximately $1,033 per month with 20% down at 6.66%. That is $504 principal and interest, $145 property tax, $37 homeowners insurance, $266 utilities and $82 set aside for maintenance.
What is the property tax rate in Menominee?
Menominee has an effective property tax rate of 1.777%, based on a median home value of $97,800 and median real estate taxes of $1,738. That is higher than the Menominee County average of 1.030%.
What is the average home price in Menominee?
The median owner-occupied home value in Menominee, Michigan is $97,800, against $142,700 across Menominee County.
Is it cheaper to rent or buy in Menominee?
Median gross rent in Menominee is $700 a month, against $1,033 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 Menominee — 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.