Total monthly cost of ownership
Cost to Own a Home in West Ishpeming, Michigan
A $166,000 home here costs
$1,432per 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 $61,500 a year.
A standard mortgage calculator would have told you $905. The real number is $527 higher every month, 58% more than the payment most buyers budget for.
Compare Marquette County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for West Ishpeming from a five-year rolling sample, and with about 2,714 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 Marquette 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.
West Ishpeming against Marquette County and Michigan
| Measure | West Ishpeming | Marquette County |
|---|---|---|
| Median home value | $166,100 | $202,000 |
| Median property tax | $1,399 | $2,019 |
| Effective tax rate | 0.842% | 1.000% |
| Median gross rent | $1,048 | $923 |
| Population | 2,714 | 66,430 |
The weather behind that power bill
West Ishpeming sits in Marquette County, which averages a high of 76.0°F in its hottest month and a low of 6.8°F in its coldest, with 36.68" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 237 cooling and 9,218 heating degree days, which is what sets the $142 electricity line above.
See the full climate breakdown for Marquette County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Marquette County
Full Marquette County cost breakdown · Every county in Michigan
Talk to someone who works this market
These are West Ishpeming 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 West Ishpeming every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in West Ishpeming I already own here and may sell
Common questions
How much does it cost to own a home in West Ishpeming?
A $166,000 home in West Ishpeming, Michigan costs approximately $1,432 per month with 20% down at 7.24%. That is $905 principal and interest, $116 property tax, $62 homeowners insurance, $210 utilities and $138 set aside for maintenance.
What is the property tax rate in West Ishpeming?
West Ishpeming has an effective property tax rate of 0.842%, based on a median home value of $166,100 and median real estate taxes of $1,399. That is lower than the Marquette County average of 1.000%.
What is the average home price in West Ishpeming?
The median owner-occupied home value in West Ishpeming, Michigan is $166,100, against $202,000 across Marquette County.
Is it cheaper to rent or buy in West Ishpeming?
Median gross rent in West Ishpeming is $1,048 a month, against $1,432 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 West Ishpeming?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in West Ishpeming, Michigan at today's rate takes a household income of roughly $61,500 a year. That covers the full $1,432 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for West Ishpeming, 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.