Total monthly cost of ownership
Cost to Own a Home in Village of Grosse Pointe Shores, Michigan
A $672,000 home here costs
$5,365per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $3,455. The real number is $1,911 higher every month — 55% 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.
Village of Grosse Pointe Shores against Wayne County and Michigan
| Measure | Village of Grosse Pointe Shores | Wayne County |
|---|---|---|
| Median home value | $671,600 | $170,200 |
| Median property tax | $10,001 | $2,794 |
| Effective tax rate | 1.489% | 1.642% |
| Median gross rent | — | $1,087 |
| Population | 2,589 | 1,773,767 |
Village of Grosse Pointe Shores extends across 2 counties. Figures here use Wayne County, where most of its housing sits.
The weather behind that power bill
Village of Grosse Pointe Shores sits in Wayne 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 $198 electricity line above.
See the full climate breakdown for Wayne County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Wayne County
Common questions
How much does it cost to own a home in Village of Grosse Pointe Shores?
A $672,000 home in Village of Grosse Pointe Shores, Michigan costs approximately $5,365 per month with 20% down at 6.66%. That is $3,455 principal and interest, $834 property tax, $251 homeowners insurance, $266 utilities and $560 set aside for maintenance.
What is the property tax rate in Village of Grosse Pointe Shores?
Village of Grosse Pointe Shores has an effective property tax rate of 1.489%, based on a median home value of $671,600 and median real estate taxes of $10,001. That is lower than the Wayne County average of 1.642%.
What is the average home price in Village of Grosse Pointe Shores?
The median owner-occupied home value in Village of Grosse Pointe Shores, Michigan is $671,600, against $170,200 across Wayne County.
Is it cheaper to rent or buy in Village of Grosse Pointe Shores?
Rent data is not published for Village of Grosse Pointe Shores at this level of detail.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Village of Grosse Pointe Shores — 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.