Wayne County Mortgage Calculator
On the Wayne County median home price of $170,000, a 20%-down, 30-year loan at today's 6.47% rate runs about $1,333/month — $857 principal & interest, $232 property tax at Wayne County's 1.64% effective rate, and $244 homeowners insurance. That is about $64/month more than the Michigan state-average tax rate would cost on the same home. Enter your own price and down payment below.
$1,333 /mo
P&I: $857 · Tax: $232 · Insurance: $244
Loan amount: $136,000 · Total interest: $172,495
Yearly amortization schedule
| Year | Interest | Principal | PMI | Balance |
|---|---|---|---|---|
| 1 | $8,754 | $1,529 | — | $134,471 |
| 2 | $8,652 | $1,631 | — | $132,841 |
| 3 | $8,544 | $1,739 | — | $131,101 |
| 4 | $8,428 | $1,855 | — | $129,246 |
| 5 | $8,304 | $1,979 | — | $127,267 |
| 6 | $8,172 | $2,111 | — | $125,156 |
| 7 | $8,032 | $2,252 | — | $122,904 |
| 8 | $7,882 | $2,402 | — | $120,503 |
| 9 | $7,721 | $2,562 | — | $117,941 |
| 10 | $7,551 | $2,732 | — | $115,209 |
| 11 | $7,369 | $2,915 | — | $112,294 |
| 12 | $7,174 | $3,109 | — | $109,185 |
| 13 | $6,967 | $3,316 | — | $105,869 |
| 14 | $6,746 | $3,537 | — | $102,332 |
| 15 | $6,510 | $3,773 | — | $98,559 |
| 16 | $6,259 | $4,024 | — | $94,535 |
| 17 | $5,991 | $4,293 | — | $90,242 |
| 18 | $5,704 | $4,579 | — | $85,663 |
| 19 | $5,399 | $4,884 | — | $80,780 |
| 20 | $5,074 | $5,209 | — | $75,570 |
| 21 | $4,727 | $5,557 | — | $70,014 |
| 22 | $4,356 | $5,927 | — | $64,087 |
| 23 | $3,961 | $6,322 | — | $57,764 |
| 24 | $3,540 | $6,743 | — | $51,021 |
| 25 | $3,090 | $7,193 | — | $43,828 |
| 26 | $2,611 | $7,672 | — | $36,156 |
| 27 | $2,099 | $8,184 | — | $27,972 |
| 28 | $1,554 | $8,729 | — | $19,243 |
| 29 | $972 | $9,311 | — | $9,932 |
| 30 | $351 | $9,932 | — | $0 |
Rates: Freddie Mac PMMS (wk 2026-06-18). Property tax: Tax Foundation. Insurance: Insurance.com. PMI applies when your down payment is under 20% (LTV > 80%). You can request cancellation at 80% LTV; the servicer must auto-terminate it at 78% (Homeowners Protection Act). How we calculate →
Monthly payment breakdown for a Wayne County home
At the Wayne County median home price of $170,000, a conventional 30-year loan at 6.47% with 20% down splits into: $857 principal & interest, $232 property tax, and $244 homeowners insurance — a total PITI of $1,333/month.
The property tax line uses Wayne County's real effective rate of 1.64% (median tax bill of $2,794 on a median home value of $170,200, US Census ACS), not a generic national average — so this figure reflects what Wayne County actually charges, before any local exemption.
Wayne County vs the Michigan state average property tax rate
Wayne County's 1.64% effective property tax rate is above Michigan's 1.19% state average. On the same $170,000 home, that difference works out to $64/month more in the tax line of the mortgage payment compared with paying the Michigan average rate instead of Wayne County's.
Property tax is set locally — by the county, city and school district — so the state average is only a rough guide. Two otherwise identical Michigan homes in different counties can carry meaningfully different monthly payments purely because of where the tax rate lands.
What the Wayne County median buys vs a $400,000 national budget
A $400,000 home taxed at Wayne County's 1.64% rate and insured at Michigan's average would run about $2,807/month — $1,474 more than the Wayne County county median payment of $1,333/month, since Wayne County's median home price ($170,000) is $230,000 below the $400,000 reference used elsewhere on this site.
In other words, price — not tax rate — usually drives the biggest gap between a Wayne County payment and a generic national estimate. Use the calculator above to swap in your own target price.
PMI in Wayne County if you put down less than 20%
Putting 10% down instead of 20% on the same $170,000 Wayne County home adds private mortgage insurance (PMI) of about $102/month, bringing the total payment to roughly $1,542/month instead of $1,333. PMI is required on conventional loans below 20% down and cancels automatically once your loan balance reaches 78% of the original price.
Wayne County mortgage — frequently asked questions
How much is a mortgage payment in Wayne County?
On the Wayne County median home price of $170,000, a 20%-down 30-year loan at 6.47% runs about $1,333/month total (principal, interest, property tax and insurance).
What is the property tax on the median home in Wayne County?
Wayne County's effective property tax rate is 1.64%, which works out to about $232/month ($2,788/year) on the $170,000 county median home value.
How does Wayne County property tax compare to the rest of Michigan?
Wayne County's 1.64% effective rate is above the Michigan state average of 1.19%, a difference of about $64/month on a $170,000 home.
What income do I need to afford a home in Wayne County?
Using the common 28%-of-gross-income guideline against the $1,333/month PITI payment on the Wayne County median home, that implies a gross annual income of roughly $57,126.
How much does PMI cost in Wayne County with less than 20% down?
Putting 10% down on the $170,000 Wayne County median home adds about $102/month in PMI, for a total payment near $1,542/month instead of $1,333.
What's included in a Wayne County mortgage payment?
PITI: principal and interest together $857, property tax $232 at Wayne County's 1.64% rate, and homeowners insurance $244 at the Michigan state average — no HOA dues assumed unless you add them above.
More Michigan counties in this pilot
Michigan mortgage calculator · Wayne County property tax deep-dive — the full county-by-county property tax breakdown behind this payment estimate.
Mortgage calculators in other pilot counties
Researched & verified by the Calcuris Data & Research Team. How we build and check our tools →