Income needed to buy a home
Oscoda County, MI
$48,681
a year in household income to buy the typical Oscoda County home with 10% down.
The monthly math
Typical home value$146,367
Down payment (10%)$14,637
Loan$131,730
Principal and interest (7.40%)$912/mo
Property tax (0.79% a year)$96/mo
Homeowners insurance (estimate)$73/mo
Mortgage insurance$55/mo
Total monthly cost$1,136/mo
Income needed keeps housing at 28% of gross income, the lender rule of thumb.
What locals earn
Right at the edge
The typical household here earns $49,515 a year, 2% more than it takes.
In Michigan
Oscoda County ranks #4 of 83 for the income a home takes, from least to most.
Easiest to afford in Michigan
| County | Typical home | Income needed |
|---|---|---|
| Luce County | $131,256 | $43,599 |
| Gogebic County | $134,710 | $46,907 |
| Ontonagon County | $136,632 | $47,117 |
| Iron County | $154,720 | $52,907 |
| Lake County | $164,508 | $54,868 |
Typical home value from the Zillow Home Value Index, August 2026. Rate is the Freddie Mac 30-year average for Oct 8, 2026. Property tax rate is total taxes paid divided by total home value in the county (U.S. Census, ACS 2020-2024). How it works.