When it comes to stretching your real estate dollars, Michigan is a great state to move to. It’s a gorgeous state with many wonderful towns and recreation yet house prices are totally bananas like they are in other states. Yes, you can still get a decent home with a mortgage payment of $3,700. Now, that assumes a 10% down payment with 7.125% interest over 30 years. The calculation was made on November 28, 2024. All this gives you a $500,000 house budget and so here are ten homes in Michigan priced around $500,000. Home prices in this article are around $500,000 so the exactly monthly mortgage payment may vary. At the end I provide the mortgage calculator screenshot used to arrive at these figures.
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10. Detroit, MI – $489,900
This property in Detroit is priced at $489,900. This 4-bedroom, 3-bathroom single-family home, built in 1910, is located just steps from Pallister Park on a pedestrian-only brick-paved street. The home features a wraparound covered porch and a modern glass front door with electronic locks. Inside, the main level includes a family room with a wood-burning fireplace, a dining room, and an open-layout kitchen equipped with granite countertops, stainless steel appliances, and soft-close cabinets. The second floor houses three bedrooms, including a primary bedroom with an ensuite full bathroom and an additional spacious full bathroom. The third floor offers a private fourth bedroom, and the backyard features a porch with views of the downtown skyline, complemented by a garage and extra parking spaces.
Listing Agent: Sotero Lopez II @ eXP Realty via Coldwell Banker Realty
9. Grand Rapids, MI – $500,000
Here’s an example of a $500,000 home in Grand Rapids. This 3-bedroom, 3-bathroom ranch-style home, built in 1968, is located on the NE side of Grand Rapids with 200 feet of lake frontage on Beckwith Lake. The main level features an open-concept kitchen with cherry cabinets, suede granite counters, and newer luxury vinyl flooring, connected to the dining area and sunroom with lake views. The primary bedroom includes an updated en-suite bath with a heated floor, accompanied by a second bedroom, formal living room, half bath, and laundry. The walkout lower level offers a large gathering room with a fireplace, a third bedroom with a full bath, and a screened porch opening to the lakefront. Recent updates include replacement windows, a newer roof, Trex decking, underground sprinkling, and a garden shed with landscaped pathways.
Listing Agent: Cheryl A Grant @ RE/MAX Of Grand Rapids via Coldwell Banker Realty
8. Ann Arbor, MI – $499,000
Here’s what you get in Ann Arbor for $499,000. This 1-bedroom, 1-bathroom ranch home, built in 1901, spans 849 square feet and is located within walking distance of the UM Medical Center, Kellogg Eye Center, and Kerrytown Farmer’s Market. The home features hardwood floors, 12-foot ceilings, and an open floor plan with design details such as a granite countertop kitchen, tiled backsplash, a gas range with a hood, and stainless steel appliances. The bedroom includes a wardrobe/closet, hardwood flooring, and barn doors leading to a laundry area and full bathroom with tile flooring, a step-in shower, and a luxury vanity. The dining area is adjacent to a walk-in pantry, and the living room includes a fireplace. The oversized, partially fenced lot provides ample parking and space for outdoor activities.
Listing Agent: Michelle Shulman @ The Charles Reinhart Company via Coldwell Banker Realty
7. Flint, MI – $469,900
I’d say you a very decent home for $469,900 in Flint. This 3,732 sq. ft. custom-built home, constructed in 1991, features four bedrooms and four bathrooms. The main level includes a two-story foyer, formal living and dining rooms, and an open kitchen and family room with a gas fireplace. A custom wood-paneled office with French doors adds functionality for work or quiet time. The upstairs includes a split floor plan with an oversized primary bedroom suite featuring a jetted tub, separate vanities, and three additional bedrooms, one as large as the three-car garage below. The finished basement provides additional living space and a full bathroom, while the large private backyard offers a custom paver patio and firepit surrounded by landscaping.
Listing Agent: Barbara Bailey via Coldwell Banker Realty
6. Traverse City, MI – $474,900
All this in Traverse City for $474,900. This 1,387 sq. ft. mid-century modern ranch, built in 1955, is located on West Lane Street in Traverse City’s Boughey Hill neighborhood. The home features three bedrooms, two bathrooms, and a spacious basement ready for customization. The main living area includes built-in bookshelves, a brick fireplace, and large windows that bring in natural light. The dining area overlooks a fenced backyard and deck, ideal for entertaining or gardening. This property combines classic mid-century charm with functional outdoor space.
Listing Agent: Ryan Craig @ The Mitten Real Estate Group via Coldwell Banker Realty
5. Kalamazoo, MI – $449,000
For $449,000, here’s what you get in Kalamazoo. This 3,356 sq. ft. single-family home, built in 2002, features three bedrooms and four bathrooms. The main level includes all bedrooms, with a primary suite offering a renovated oversized tile shower and a walk-in closet, while the two additional bedrooms share a full bath with southern exposure. A spacious bonus room overlooks the living area, and the main floor includes a large laundry room with extra cabinetry and workspace. The daylight basement is nearly fully finished and includes a full bathroom. Additional features include an attached three-car garage, a Generac generator, and a water softener.
Listing Agent: Theresa A Page @ Jaqua, Realtors via Coldwell Banker Realty
4. Saginaw, MI – $500,000
All this for $500,000 in Saginaw. This 2,983 sq. ft. ranch-style home, built in 2021, offers four bedrooms and four bathrooms. The first floor includes a bright living room, an open kitchen, a primary bedroom with a walk-in closet and a spa-like bathroom, two additional bedrooms, and first-floor laundry. The finished basement features a 35′ x 16′ recreation room with a wet bar, an additional bedroom, a third full bathroom, and an 18′ x 16′ storage area. Outdoor features include a fenced-in backyard and a back deck. Additional amenities include recessed lighting, a whole-home air purifier system, a backup sump pump generator, and an attached three-car garage.
Listing Agent: Tyler Gould @ Mid-Mitten Realty via Coldwell Banker Realty
3. Dearborn, MI – $475,000
In Dearborn, this is an example of what you can buy for $475,000. This 2,662 sq. ft. single-family home, built in 1988, features five bedrooms and five bathrooms. The property sits on a rare double lot and includes an attached 2.5-car garage. The home offers a finished basement, providing additional living or entertainment space. Its location near schools, parks, and shopping enhances its convenience. The property is well-maintained and offers a spacious layout suitable for various needs.
Listing Agent: Billy Johair & Rob Darwich @ Keller Williams Legacy via Coldwell Banker Realty
2. Muskegon, MI – $449,900
This home in Muskegon is all yours for $449,900. This 1,524 sq. ft. brick ranch-style home, built in 1956, features four bedrooms and 2.5 bathrooms. The main floor includes three bedrooms, a large living room with a gas fireplace, and functional living space. The home is adjacent to the Muskegon Country Club and golf course, offering convenient access. Nearby amenities include Kruse Park, Beachwood Park, and Pere Marquette Park, providing recreational and dining options. Its location makes it suitable for a vacation home, rental property, or primary residence.
Listing Agent: Noel Berg @ Homerealty, LLC. via Coldwell Banker Realty
1. Warren, MI – $449,000
This home in Warren is listed at $449,000. This 2,782 sq. ft. single-family home, built in 2006, includes four bedrooms and three bathrooms. The first floor features hardwood flooring and an updated kitchen with granite countertops, a matching island, and a smart refrigerator. The dining area opens to a brick patio, providing additional outdoor space. A two-tier family room complements the living spaces, and the full basement offers ample storage. The home is located in the heart of Warren, providing convenient access to local amenities.
Listing Agent: Jinsong Guo @ Asia America Realty LLC. via Coldwell Banker Realty
Mortgage Calculator Screenshot – taken November 28, 2024
Another important note is I used specifically input Michigan for the current interest rate for a 30-year mortgage for this calculation. Figures might adjust slightly depending on your town. The point of this article is to give you the big picture as to what an approximate house you can get with a $3,700 per month mortgage payment.
