How much do homeowners pay a month in Torch Lake Township (Houghton County), MI?
Homeowners with a mortgage in Torch Lake Township (Houghton County), MI pay a median of $1,365 (±$123) a month in selected owner costs (2020–2024 American Community Survey).
Owners without a mortgage pay $550 (±$96).
41.9% of owned homes carry a mortgage.
In Torch Lake Township (Houghton County), the median monthly cost with a mortgage went from $1,094 in 2015–2019 to $1,365 in 2020–2024 (+24.8%).
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
- $1,365 (±$123)
- Without a mortgage
- $550 (±$96)
- Owned with a mortgage
- 41.9%
Monthly owner costs in Torch Lake Township (Houghton County)
| Torch Lake Township (Houghton County) | Houghton County | Michigan | United States | |
|---|---|---|---|---|
| With a mortgage | $1,365 (±$123) | $1,211 (±$57) | $1,569 (±$5) | $1,963 |
| Without a mortgage | $550 (±$96) | $502 (±$24) | $602 (±$3) | $638 |
| Owned homes with a mortgage | 41.9% (±9.5 points) | 49.7% (±2.4 points) | 57.8% (±0.2 points) | 60.6% |
| Median real estate taxes (a year) | $1,958 (±$470) | $1,858 (±$110) | $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 Torch Lake Township (Houghton County), the median cost with a mortgage is higher than in Houghton County ($1,211).
It is also lower than in Michigan ($1,569).
It is lower than the national figure ($1,963).
In Houghton County, Torch Lake Township (Houghton County) ranks 7 of 16 places with a published estimate, from highest to lowest median monthly cost with a mortgage.
Statewide, it ranks 794 of 1,516.
Rankings use the estimates alone; where margins of error overlap, neighboring ranks may not truly differ.
How owner costs in Torch Lake Township (Houghton County) have changed since 2015–2019
| 2015–2019 | 2020–2024 | Amount of change | Verdict | |
|---|---|---|---|---|
| Median owner cost with a mortgage | $1,094 (±$288) | $1,365 (±$123) | +24.8% | No measurable change after inflation |
| Median real estate taxes | $1,659 (±$237) | $1,958 (±$470) | +18.0% | No measurable change after inflation |
| Median home value | $152,500 (±$30,554) | $170,700 (±$39,032) | +11.9% | No measurable change 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 Torch Lake Township (Houghton County)
| Place | Distance | Median monthly cost with a mortgage | Compared with this place |
|---|---|---|---|
| Torch Lake Township (Houghton County) | — | $1,365 (±$123) | — |
| Lake Linden | 7.0 mi | $1,069 (±$156) | Lower |
| Schoolcraft Township (Houghton County) | 7.3 mi | $1,107 (±$171) | Lower |
| Dollar Bay | 7.4 mi | $1,115 (±$134) | Lower |
| Osceola Township (Houghton County) | 8.7 mi | $1,055 (±$125) | Lower |
| Franklin Township (Houghton County) | 9.1 mi | $1,317 (±$107) | Not measurably different |
| Houghton | 10 mi | $1,537 (±$285) | Not measurably different |
| Laurium | 10 mi | $1,109 (±$113) | Lower |
| Calumet | 11 mi | $853 (±$51) | Lower |
Nearby places with a measurably lower figure: Lake Linden, MI ($1,069), Schoolcraft Township (Houghton County), MI ($1,107), Dollar Bay, MI ($1,115).
Distance is measured in a straight line between the Census Bureau’s internal points for each place.
Median monthly cost with a mortgage across Houghton County, place by place
| Rank | Place | Median monthly cost with a mortgage |
|---|---|---|
| 1 | Hancock Township | $1,797 (±$232) |
| 2 | Houghton | $1,537 (±$285) |
| 3 | Stanton Township | $1,500 (±$228) |
| 4 | Elm River Township | $1,477 (±$281) |
| 5 | Quincy Township (Houghton County) | $1,472 (±$282) |
| 6 | Duncan Township | $1,448 (±$170) |
| 7 | Torch Lake Township (Houghton County) | $1,365 (±$123) |
| 8 | Hancock | $1,358 (±$347) |
| 9 | Franklin Township (Houghton County) | $1,317 (±$107) |
| 10 | Portage Charter Township | $1,301 (±$360) |
| 11 | Chassell Township | $1,268 (±$162) |
| 12 | Adams Township (Houghton County) | $1,113 (±$200) |
| 13 (tie) | Laird Township | $1,107 (±$85) |
Showing 13 of 16 places in Houghton 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.
What you can do on Seayora in Torch Lake Township (Houghton County)
One account for renting, owning, managing and fixing homes, with these figures beside you.
Own or manage a rental?
List it, sign the lease and collect rent online, with the figures for Torch Lake Township (Houghton County) beside you.
Create a landlord account · See what landlords get
Looking for a place to rent?
Browse homes for rent near Torch Lake Township (Houghton County), save the ones you like and apply online.
Browse rentals · Create a renter account
Do repairs, renovations or maintenance?
Get found by owners and renters near Torch Lake Township (Houghton County), and send estimates and invoices from your phone.
Questions about Torch Lake Township (Houghton County)
What is the average mortgage payment in Torch Lake Township (Houghton County)?
The Census Bureau publishes total owner costs rather than the mortgage alone: the median for owners with a mortgage in Torch Lake Township (Houghton County), MI is $1,365 (±$123) a month, including taxes, insurance and utilities.
How much does it cost to own a paid-off home in Torch Lake Township (Houghton County)?
Owners without a mortgage in Torch Lake Township (Houghton County) pay a median of $550 (±$96) a month in taxes, insurance, utilities and fees.
Has the cost of owning a home in Torch Lake Township (Houghton County) gone up?
In Torch Lake Township (Houghton County), the median monthly cost with a mortgage went from $1,094 in 2015–2019 to $1,365 in 2020–2024 (+24.8%).
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 — Torch Lake township, Houghton County, Michigan
- Median Real Estate Taxes Paid by Mortgage Status (B25103), 2020–2024 ACS 5-year estimates — Torch Lake township, Houghton County, Michigan
- Median Selected Monthly Owner Costs (B25088), 2015–2019 ACS 5-year estimates — Torch Lake township, Houghton County, Michigan
- Median Real Estate Taxes Paid by Mortgage Status (B25103), 2015–2019 ACS 5-year estimates — Torch Lake township, Houghton County, Michigan
- Median Value (B25077), 2015–2019 ACS 5-year estimates — Torch Lake township, Houghton 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 Torch Lake township, Houghton County, Michigan (county subdivision:80120, in state:26 county:061).
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 Torch Lake Township (Houghton County) at a glance
- Income and affordability in Torch Lake Township (Houghton County)
- Home values in Torch Lake Township (Houghton County)
- Property taxes in Torch Lake Township (Houghton County)
- Types of homes in Torch Lake Township (Houghton County)
- Bedrooms in Torch Lake Township (Houghton County)
- Age of homes in Torch Lake Township (Houghton County)
- Heating fuel in Torch Lake Township (Houghton County)
- Commute and cars in Torch Lake Township (Houghton County)
- Population growth in Torch Lake Township (Houghton County)
- How long people stay in Torch Lake Township (Houghton County)
- Michigan landlord and tenant rules
- Housing across Houghton County
- Housing data for every place in Michigan