The calculator below is pre-filled with Wayne County's own property tax rate and insurance average (expand "More options" to see or edit them) — not just Michigan's statewide figures.

Wayne County at a glance

Effective property tax rate: 1.51% of home value / year
Median home price: $224,327
Homeowners insurance (avg/year): $4,252
Conforming loan limit (1-unit, 2026): $832,750

County data last updated 2026-08-28. FIPS 26163. Full source list on /methodology.

Wayne County, MI mortgage payment calculator

All-in cost first, always — pre-filled with Wayne County tax and insurance figures. Estimate only, not a loan quote or pre-approval.

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Related reading

Closing Costs in Michigan: What You'll Actually Pay

Michigan stacks a state and a county transfer tax, but the seller customarily pays all $2,579 of it. Here's what a buyer really owes on a $299,900 Michigan home.

What Is PMI, and How Do You Get Rid of It?

Private mortgage insurance explained in plain English — what it costs, why it exists, the exact federal rules for cancelling it, and how to work out the month your PMI is scheduled to end.

Guides & templates

Buying a Home With Someone Else

The operational guide to buying property with a partner, friend, sibling, or parent — credit and DTI mechanics, title vesting, a clause-by-clause co-ownership agreement, and how the exit actually works.

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A month-by-month plan for the year before you buy: what to do in each phase, what never to touch, how to document every dollar, and how to survive closing day.

Michigan at a glance

Median home price: $299,900
Typical closing costs: 2%–5% of price
Transfer tax: 0.86% of sale price, customarily paid by seller
Closing custom: escrow
Homestead exemption: Michigan's Principal Residence Exemption (PRE) exempts a qualifying primary residence from the local school district's operating millage — typically up to 18 mills ($18 per $1,000 of taxable value) — while county, city/township, and other non-school-operating millages still apply. On a home with $200,000 in taxable value, this saves roughly $3,600/year versus a non-homestead (e.g. second home or rental) property taxed at the full local rate. Not automatic — owners must file a PRE affidavit (Form 2368) with their local assessor, generally due by June 1 (for the current summer/winter tax bill) or November 1 (for a partial exemption on the winter bill only), and the property must be the owner's principal residence as of that date.

First-time buyer / down payment assistance programs

MSHDA MI Home Loan
Michigan State Housing Development Authority's primary 30-year fixed-rate mortgage at below-market interest rates for first-time homebuyers statewide (first-time requirement waived in targeted areas); can be paired with MSHDA down payment assistance.
MSHDA MI 10K DPA Loan
0%-interest, no-monthly-payment second mortgage providing up to $10,000 in down payment assistance statewide, repaid when the first mortgage is paid off, refinanced, or the home is sold. Must be paired with an MI Home Loan first mortgage.