Detroit has the lowest home prices of any major US city, alongside some of the highest municipal millage rates in the country. Wayne County's very high effective property tax rate means the escrow portion often exceeds principal and interest at this price point.
Recommended for incomes above $30k/yr (28% DTI rule)
Detroit housing market
The 3.12% property tax rate reflects the county-level effective rate for Detroit and is used to calculate your monthly tax escrow above. This rate may differ from the statewide Michigan average — county-level data produces more accurate monthly payment estimates for Detroit buyers.
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