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By: Ramu Garuda July. 05, 2018

According to a recent study, Michigan homeowners with a home mortgage allocate a median value of 27.8 percent of their income to housing costs, which is lower than the national value of 30.9 percent.


Gavop used the latest numbers published by the United States Census Bureau to the estimate the amount of debt owed to living expenses in Michigan. For the purpose of this study, percentage of income spent on housing costs includes mortgage payments, real estate taxes, home insurance, and utilities.

The results show that for a median income of $52,492, residents of the state of Michigan with a home mortgage incur median housing costs of $14,580 per year. The median home value in the state is $147,100. These values help gauge the amount of income set aside for housing expenses.

The following table compares housing costs at the state and national levels.

LocationIncome Spent on Housing by Homeowners with Mortgage (%)Annual Housing Costs for Homeowners with MortgageMedian IncomeMedian Home Value
Michigan27.8%$14,580$52,492$147,100
United States30.9%$17,832$57,617$205,000

A more localized view of the data reveals that mortgage-holding residents in Wayne County allocate 33.6 percent of their income to housing costs and this amount is the highest in the state in terms of a proportion of income spent on homeownership debt.


At 32.5 percent, Isabella County reports the second largest proportion of income allocated to housing costs, followed by Washtenaw County (30.5 percent), Genesee County (30.3 percent), and Berrien County (29.2 percent). The table below lists the top five counties in Michigan in terms of income spent on housing costs.

Counties with the Highest Housing Costs as a Percentage of Income.

RankCountyIncome Spent on Housing Costs by Homeowners with Mortgage (% )Annual Housing Costs for Homeowners with MortgageMedian IncomeMedian Home ValueNumber of Housing Units
1Wayne33.6%$14,604$43,464$105,300814,339
2Isabella32.5%$13,596$41,868$41,86828,790
3Washtenaw30.5%$20,004$65,601$65,601149,932
4Genesee30.3%$13,308$43,955$43,955190,976
5Berrien29.2%$13,740$47,083$47,08376,836

On the other hand, residents with mortgages in Livingston County spend 22.4 percent of their income, which is the lowest percentage of income spent on homeownership costs. Ottawas and Clinton County are both tied at 23.2 percent for the next lowest value, followed by Kent County (24.1 percent) and Midland County (24.2 percent).


The table presents the lowest counties in Michigan in terms of income spent on housing costs.

Counties with the Lowest Housing Costs as a Percentage of Income.

RankCountyIncome Spent on Housing by Homeowners with Mortgage (%)Annual Housing Costs for Homeowners with MortgageMedian IncomeMedian Home ValueNumber of Housing Units
1Livingston22.4%$17,448$78,038$227,90075,987
2Ottawa23.2%$14,940$64,513$175,600106,905
3Clinton23.2%$15,252$65,730$172,80031,301
4Kent24.1%$14,352$59,668$163,100251,351
5Midland24.2%$13,884$57,269$132,40036,535

The following table lists income spent on housing costs in Michigan, arranged from the highest to lowest percentage.

County in MichiganMedian Costs for Homeowners with a Mortgage as percentage of incomeMedian Costs for Homeowner with Mortgage (Annual)Median IncomeMedian Home ValueTotal Homes
Wayne County33.6%$14,604$43,464$105,300814,339
Isabella County32.5%$13,596$41,868$132,20028,790
Washtenaw County30.5%$20,004$65,601$244,700149,932
Genesee County30.3%$13,308$43,955$106,900190,976
Berrien County29.2%$13,740$47,083$153,60076,836
Ingham County28.9%$14,220$49,139$129,100122,644
Van Buren County28.2%$13,524$47,917$131,30036,725
Calhoun County27.5%$12,612$45,902$113,90060,537
Kalamazoo County27.3%$14,484$53,138$155,500111,075
Saginaw County27.2%$12,468$45,849$96,20087,039
St. Clair County27.1%$14,064$51,864$145,10071,868
Grand Traverse County26.9%$15,756$58,532$212,30042,998
Muskegon County26.8%$11,856$44,264$106,50073,452
Lapeer County26.7%$14,508$54,309$165,10036,321
Bay County26.4%$11,832$44,756$100,60048,017
Marquette County26.4%$13,524$51,275$155,40034,589
Oakland County26.2%$18,816$71,920$224,400536,840
Eaton County25.8%$14,496$56,211$143,30047,124
Allegan County25.7%$14,856$57,846$157,60050,276
Lenawee County25.6%$13,296$51,918$136,30043,477
Jackson County25.5%$12,744$50,009$123,70069,005
Macomb County25.4%$15,252$60,143$157,700363,986
Monroe County25.0%$15,216$60,799$158,80063,694
Shiawassee County24.4%$12,984$53,244$114,10029,988
Midland County24.2%$13,884$57,269$132,40036,535
Kent County24.1%$14,352$59,668$163,100251,351
Clinton County23.2%$15,252$65,730$172,80031,301
Ottawa County23.2%$14,940$64,513$175,600106,905
Livingston County22.4%$17,448$78,038$227,90075,987


ABOUT THE AUTHOR

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Ramu Garuda

Ramu is a research analyst with over 7 years of analytics & research experience. Prior to joining the company, he worked with some of the prominent consulting and market research firms in India, including Pride Technology (Supporting consulting projects to PWC), RR Donnelly, and The Hackett Group. His skills include company profiling, benchmarking, data and trend analysis, industry analysis, and report writing across the industries. Ramu holds a Master’s degree in Finance and Marketing. He also has a bachelor’s degree in Biotechnology.

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