Total monthly cost of ownership
Cost to Own a Home in Stony Point, Michigan
A $205,000 home here costs
$1,795per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $77,000 a year.
A standard mortgage calculator would have told you $1,118. The real number is $677 higher every month, 61% more than the payment most buyers budget for.
Compare Monroe County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Stony Point from a five-year rolling sample, and with about 1,999 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Monroe County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Stony Point against Monroe County and Michigan
| Measure | Stony Point | Monroe County |
|---|---|---|
| Median home value | $205,400 | $215,700 |
| Median property tax | $2,644 | $2,492 |
| Effective tax rate | 1.287% | 1.155% |
| Median gross rent | $999 | $1,017 |
| Population | 1,999 | 155,001 |
The weather behind that power bill
Stony Point sits in Monroe County, which averages a high of 83.7°F in its hottest month and a low of 19.2°F in its coldest, with 34.32" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 847 cooling and 6,067 heating degree days, which is what sets the $142 electricity line above.
See the full climate breakdown for Monroe County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Monroe County
Full Monroe County cost breakdown · Every county in Michigan
Talk to someone who works this market
These are Stony Point 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 Stony Point every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Stony Point I already own here and may sell
Common questions
How much does it cost to own a home in Stony Point?
A $205,000 home in Stony Point, Michigan costs approximately $1,795 per month with 20% down at 7.24%. That is $1,118 principal and interest, $220 property tax, $77 homeowners insurance, $210 utilities and $171 set aside for maintenance.
What is the property tax rate in Stony Point?
Stony Point has an effective property tax rate of 1.287%, based on a median home value of $205,400 and median real estate taxes of $2,644. That is higher than the Monroe County average of 1.155%.
What is the average home price in Stony Point?
The median owner-occupied home value in Stony Point, Michigan is $205,400, against $215,700 across Monroe County.
Is it cheaper to rent or buy in Stony Point?
Median gross rent in Stony Point is $999 a month, against $1,795 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 Stony Point?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Stony Point, Michigan at today's rate takes a household income of roughly $77,000 a year. That covers the full $1,795 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Stony Point, 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.