Total monthly cost of ownership
Cost to Own a Home in New Baltimore, Michigan
A $310,000 home here costs
$2,651per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $113,500 a year.
A standard mortgage calculator would have told you $1,717. The real number is $934 higher every month, 54% more than the payment most buyers budget for.
Compare Macomb 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.
New Baltimore against Macomb County and Michigan
| Measure | New Baltimore | Macomb County |
|---|---|---|
| Median home value | $309,800 | $231,400 |
| Median property tax | $4,187 | $3,293 |
| Effective tax rate | 1.352% | 1.423% |
| Median gross rent | $1,081 | $1,175 |
| Population | 12,060 | 877,624 |
The weather behind that power bill
New Baltimore sits in Macomb County, which averages a high of 82.2°F in its hottest month and a low of 17.9°F in its coldest, with 34.96" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 633 cooling and 6,550 heating degree days, which is what sets the $142 electricity line above.
See the full climate breakdown for Macomb County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Macomb County
Full Macomb County cost breakdown · Every county in Michigan
Talk to someone who works this market
These are New Baltimore 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 New Baltimore every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in New Baltimore I already own here and may sell
Common questions
How much does it cost to own a home in New Baltimore?
A $310,000 home in New Baltimore, Michigan costs approximately $2,651 per month with 20% down at 7.4%. That is $1,717 principal and interest, $349 property tax, $116 homeowners insurance, $210 utilities and $258 set aside for maintenance.
What is the property tax rate in New Baltimore?
New Baltimore has an effective property tax rate of 1.352%, based on a median home value of $309,800 and median real estate taxes of $4,187. That is lower than the Macomb County average of 1.423%.
What is the average home price in New Baltimore?
The median owner-occupied home value in New Baltimore, Michigan is $309,800, against $231,400 across Macomb County.
Is it cheaper to rent or buy in New Baltimore?
Median gross rent in New Baltimore is $1,081 a month, against $2,651 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 New Baltimore?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in New Baltimore, Michigan at today's rate takes a household income of roughly $113,500 a year. That covers the full $2,651 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for New Baltimore, 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.