How much do homeowners pay a month in Inwood Township, MI?
Homeowners with a mortgage in Inwood Township, MI pay a median of $1,455 (±$138) a month in selected owner costs (2020–2024 American Community Survey).
Owners without a mortgage pay $455 (±$65).
55.1% of owned homes carry a mortgage.
In Inwood Township, the median monthly cost with a mortgage went from $1,201 in 2015–2019 to $1,455 in 2020–2024 (+21.1%).
Prices (CPI-U) rose 22.7% over the same years; the change is not measurably different from the rise in prices.
Figures last updated on .
- With a mortgage
- $1,455 (±$138)
- Without a mortgage
- $455 (±$65)
- Owned with a mortgage
- 55.1%
Monthly owner costs in Inwood Township
| Inwood Township | Schoolcraft County | Michigan | United States | |
|---|---|---|---|---|
| With a mortgage | $1,455 (±$138) | $1,191 (±$69) | $1,569 (±$5) | $1,963 |
| Without a mortgage | $455 (±$65) | $478 (±$34) | $602 (±$3) | $638 |
| Owned homes with a mortgage | 55.1% (±8.6 points) | 45.9% (±3.5 points) | 57.8% (±0.2 points) | 60.6% |
| Median real estate taxes (a year) | $1,487 (±$226) | $1,407 (±$65) | $2,904 (±$9) | $3,119 |
Selected monthly owner costs are the mortgage payment, property taxes, insurance, utilities, fuels and any condominium or mobile-home fees.
In Inwood Township, the median cost with a mortgage is higher than in Schoolcraft County ($1,191).
It is not measurably different from Michigan ($1,569).
It is lower than the national figure ($1,963).
In Schoolcraft County, Inwood Township ranks 2 of 9 places with a published estimate, from highest to lowest median monthly cost with a mortgage.
Statewide, it ranks 597 of 1,516.
Rankings use the estimates alone; where margins of error overlap, neighboring ranks may not truly differ.
How owner costs in Inwood Township have changed since 2015–2019
| 2015–2019 | 2020–2024 | Amount of change | Verdict | |
|---|---|---|---|---|
| Median owner cost with a mortgage | $1,201 (±$237) | $1,455 (±$138) | +21.1% | No measurable change after inflation |
| Median real estate taxes | $1,143 (±$175) | $1,487 (±$226) | +30.1% | No measurable change after inflation |
| Median home value | $157,900 (±$17,792) | $229,100 (±$17,145) | +45.1% | Up after inflation |
The Census Bureau publishes 2015–2019 dollars in 2019 dollars and 2020–2024 dollars in 2024 dollars.
Prices (the CPI-U, US Bureau of Labor Statistics) rose 22.7% between 2019 and 2024, so a dollar figure’s verdict compares the two after raising the earlier one by that much, using the Census Bureau’s test for a difference.
The two periods do not overlap, as the Census Bureau recommends for 5-year estimates.
Median monthly cost with a mortgage in places near Inwood Township
| Place | Distance | Median monthly cost with a mortgage | Compared with this place |
|---|---|---|---|
| Inwood Township | — | $1,455 (±$138) | — |
| Thompson Township | 10 mi | $1,357 (±$88) | Not measurably different |
| Garden Township | 11 mi | $1,022 (±$115) | Lower |
| Hiawatha Township | 12 mi | $1,353 (±$80) | Not measurably different |
| Manistique | 14 mi | $897 (±$89) | Lower |
| Nahma Township | 15 mi | $1,191 (±$82) | Lower |
| Manistique Township | 15 mi | $1,324 (±$109) | Not measurably different |
| Doyle Township | 20 mi | $1,330 (±$180) | Not measurably different |
| Masonville Township | 21 mi | $1,343 (±$109) | Not measurably different |
Nearby places with a measurably lower figure: Garden Township, MI ($1,022), Manistique, MI ($897), Nahma Township, MI ($1,191).
Distance is measured in a straight line between the Census Bureau’s internal points for each place.
Median monthly cost with a mortgage across Schoolcraft County, place by place
| Rank | Place | Median monthly cost with a mortgage |
|---|---|---|
| 1 | Seney Township | $1,563 (±$829) |
| 2 | Inwood Township | $1,455 (±$138) |
| 3 | Germfask Township | $1,417 (±$305) |
| 4 | Thompson Township | $1,357 (±$88) |
| 5 | Hiawatha Township | $1,353 (±$80) |
| 6 | Doyle Township | $1,330 (±$180) |
| 7 | Manistique Township | $1,324 (±$109) |
| 8 | Mueller Township | $1,050 (±$373) |
Showing 8 of 9 places in Schoolcraft County, ranked from highest to lowest.
Survey years: 2020–2024 (American Community Survey 5-year estimates), compared with 2015–2019.
Margins of error are at the 90% confidence level.
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Questions about Inwood Township
What is the average mortgage payment in Inwood Township?
The Census Bureau publishes total owner costs rather than the mortgage alone: the median for owners with a mortgage in Inwood Township, MI is $1,455 (±$138) a month, including taxes, insurance and utilities.
How much does it cost to own a paid-off home in Inwood Township?
Owners without a mortgage in Inwood Township pay a median of $455 (±$65) a month in taxes, insurance, utilities and fees.
Has the cost of owning a home in Inwood Township gone up?
In Inwood Township, the median monthly cost with a mortgage went from $1,201 in 2015–2019 to $1,455 in 2020–2024 (+21.1%).
Prices (CPI-U) rose 22.7% over the same years; the change is not measurably different from the rise in prices.
Sources
- Selected Housing Characteristics (DP04), 2020–2024 ACS 5-year estimates — Inwood township, Schoolcraft County, Michigan
- Median Real Estate Taxes Paid by Mortgage Status (B25103), 2020–2024 ACS 5-year estimates — Inwood township, Schoolcraft County, Michigan
- Median Selected Monthly Owner Costs (B25088), 2015–2019 ACS 5-year estimates — Inwood township, Schoolcraft County, Michigan
- Median Real Estate Taxes Paid by Mortgage Status (B25103), 2015–2019 ACS 5-year estimates — Inwood township, Schoolcraft County, Michigan
- Median Value (B25077), 2015–2019 ACS 5-year estimates — Inwood township, Schoolcraft County, Michigan
- Consumer Price Index for All Urban Consumers (CPI-U), US city average, all items, US Bureau of Labor Statistics: annual averages 2019 and 2024
To check these figures in the Census Bureau’s own API, request the variables below from the 2024 ACS 5-year data profile (acs/acs5/profile) and detailed tables (acs/acs5) for Inwood township, Schoolcraft County, Michigan (county subdivision:40840, in state:26 county:153).
Each estimate (E or PE) has a margin of error beside it (M or PM).
The 2015–2019 figures are B25088_002E, B25088_002M, B25103_001E, B25103_001M, B25077_001E, B25077_001M from the 2019 release.
The API needs a free key.
DP04_0101E, DP04_0101M, DP04_0109E, DP04_0109M, DP04_0091PE, DP04_0091PM, B25103_001E, B25103_001M
This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
Figures are published by the US Census Bureau, HUD, the Bureau of Labor Statistics and the FBI; Seayora reproduces them and does not adjust them, except where a sentence says it compares dollar figures after inflation. They describe the whole place, not any one building or street, and are not an appraisal, a rent determination, a tax bill, a safety rating or legal advice.
Figures last updated on .
Related
- Housing in Inwood Township at a glance
- Income and affordability in Inwood Township
- Home values in Inwood Township
- Property taxes in Inwood Township
- Types of homes in Inwood Township
- Bedrooms in Inwood Township
- Age of homes in Inwood Township
- Heating fuel in Inwood Township
- Commute and cars in Inwood Township
- Michigan landlord and tenant rules
- Housing across Schoolcraft County
- Housing data for every place in Michigan