Total monthly cost of ownership
Cost to Own a Home in Paw Paw, Michigan
A $134,000 home here costs
$1,348per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $689. The real number is $659 higher every month — 96% 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.
Paw Paw against Van Buren County and Michigan
| Measure | Paw Paw | Van Buren County |
|---|---|---|
| Median home value | $133,600 | $189,900 |
| Median property tax | $2,767 | $2,444 |
| Effective tax rate | 2.071% | 1.287% |
| Median gross rent | $775 | $845 |
| Population | 3,277 | 75,681 |
The weather behind that power bill
Paw Paw sits in Van Buren County, which averages a high of 81.7°F in its hottest month and a low of 20.3°F in its coldest, with 35" of precipitation a year and 33% of it in a single three-month stretch. That climate drives 656 cooling and 6,184 heating degree days, which is what sets the $198 electricity line above.
See the full climate breakdown for Van Buren County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Van Buren County
Full Van Buren County cost breakdown · Every county in Michigan
Common questions
How much does it cost to own a home in Paw Paw?
A $134,000 home in Paw Paw, Michigan costs approximately $1,348 per month with 20% down at 6.66%. That is $689 principal and interest, $231 property tax, $50 homeowners insurance, $266 utilities and $112 set aside for maintenance.
What is the property tax rate in Paw Paw?
Paw Paw has an effective property tax rate of 2.071%, based on a median home value of $133,600 and median real estate taxes of $2,767. That is higher than the Van Buren County average of 1.287%.
What is the average home price in Paw Paw?
The median owner-occupied home value in Paw Paw, Michigan is $133,600, against $189,900 across Van Buren County.
Is it cheaper to rent or buy in Paw Paw?
Median gross rent in Paw Paw is $775 a month, against $1,348 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 Paw Paw — 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.