Total monthly cost of ownership
Cost to Own a Home in Sault Ste. Marie, Michigan
A $127,000 home here costs
$1,273per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $653. The real number is $620 higher every month — 95% 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.
Sault Ste. Marie against Chippewa County and Michigan
| Measure | Sault Ste. Marie | Chippewa County |
|---|---|---|
| Median home value | $127,300 | $153,100 |
| Median property tax | $2,417 | $1,972 |
| Effective tax rate | 1.899% | 1.288% |
| Median gross rent | $787 | $793 |
| Population | 13,373 | 36,448 |
The weather behind that power bill
Sault Ste. Marie sits in Chippewa County, which averages a high of 78.6°F in its hottest month and a low of 8.2°F in its coldest, with 35.55" of precipitation a year and 33% of it in a single three-month stretch. That climate drives 231 cooling and 8,372 heating degree days, which is what sets the $198 electricity line above.
See the full climate breakdown for Chippewa County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Chippewa County
Full Chippewa County cost breakdown · Every county in Michigan
Common questions
How much does it cost to own a home in Sault Ste. Marie?
A $127,000 home in Sault Ste. Marie, Michigan costs approximately $1,273 per month with 20% down at 6.66%. That is $653 principal and interest, $201 property tax, $47 homeowners insurance, $266 utilities and $106 set aside for maintenance.
What is the property tax rate in Sault Ste. Marie?
Sault Ste. Marie has an effective property tax rate of 1.899%, based on a median home value of $127,300 and median real estate taxes of $2,417. That is higher than the Chippewa County average of 1.288%.
What is the average home price in Sault Ste. Marie?
The median owner-occupied home value in Sault Ste. Marie, Michigan is $127,300, against $153,100 across Chippewa County.
Is it cheaper to rent or buy in Sault Ste. Marie?
Median gross rent in Sault Ste. Marie is $787 a month, against $1,273 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 Sault Ste. Marie — 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.