Total monthly cost of ownership
Cost to Own a Home in Tawas City, Michigan
A $124,000 home here costs
$1,184per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $637. The real number is $546 higher every month — 86% 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.
Tawas City against Iosco County and Michigan
| Measure | Tawas City | Iosco County |
|---|---|---|
| Median home value | $124,000 | $122,900 |
| Median property tax | $1,569 | $1,304 |
| Effective tax rate | 1.265% | 1.061% |
| Median gross rent | $810 | $659 |
| Population | 1,654 | 25,333 |
The weather behind that power bill
Tawas City sits in Iosco County, which averages a high of 80.2°F in its hottest month and a low of 12.9°F in its coldest, with 32.27" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 403 cooling and 7,456 heating degree days, which is what sets the $198 electricity line above.
See the full climate breakdown for Iosco County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Iosco County
Common questions
How much does it cost to own a home in Tawas City?
A $124,000 home in Tawas City, Michigan costs approximately $1,184 per month with 20% down at 6.66%. That is $637 principal and interest, $131 property tax, $46 homeowners insurance, $266 utilities and $103 set aside for maintenance.
What is the property tax rate in Tawas City?
Tawas City has an effective property tax rate of 1.265%, based on a median home value of $124,000 and median real estate taxes of $1,569. That is higher than the Iosco County average of 1.061%.
What is the average home price in Tawas City?
The median owner-occupied home value in Tawas City, Michigan is $124,000, against $122,900 across Iosco County.
Is it cheaper to rent or buy in Tawas City?
Median gross rent in Tawas City is $810 a month, against $1,184 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 Tawas City — 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.