Total monthly cost of ownership
Cost to Own a Home in Morenci, Michigan
A $94,000 home here costs
$1,006per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $483. The real number is $523 higher every month — 108% 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.
Morenci against Lenawee County and Michigan
| Measure | Morenci | Lenawee County |
|---|---|---|
| Median home value | $93,800 | $181,100 |
| Median property tax | $1,720 | $2,412 |
| Effective tax rate | 1.834% | 1.332% |
| Median gross rent | $732 | $965 |
| Population | 2,149 | 98,823 |
The weather behind that power bill
Morenci sits in Lenawee County, which averages a high of 83.5°F in its hottest month and a low of 17.3°F in its coldest, with 29.95" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 695 cooling and 6,383 heating degree days, which is what sets the $198 electricity line above.
See the full climate breakdown for Lenawee County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Lenawee County
Full Lenawee County cost breakdown · Every county in Michigan
Common questions
How much does it cost to own a home in Morenci?
A $94,000 home in Morenci, Michigan costs approximately $1,006 per month with 20% down at 6.66%. That is $483 principal and interest, $144 property tax, $35 homeowners insurance, $266 utilities and $78 set aside for maintenance.
What is the property tax rate in Morenci?
Morenci has an effective property tax rate of 1.834%, based on a median home value of $93,800 and median real estate taxes of $1,720. That is higher than the Lenawee County average of 1.332%.
What is the average home price in Morenci?
The median owner-occupied home value in Morenci, Michigan is $93,800, against $181,100 across Lenawee County.
Is it cheaper to rent or buy in Morenci?
Median gross rent in Morenci is $732 a month, against $1,006 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 Morenci — 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.