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Mortgage Calculator &
Closing Costs: Marquette, MI

Mortgage payment estimates, closing cost breakdowns, and homebuying data for Marquette, Michigan.

Median Home Price
$245K
Population
21K
Avg Monthly Rent
$1,080
Property Tax Rate
1.54%
Marquette vs Michigan Median
The median home price in Marquette is $245,000, which is roughly in line with the Michigan state median of $240,000.

Mortgage Calculator — Marquette, MI

Pre-filled with Marquette median home price and Michigan tax/insurance rates. Adjust for your property.

$
$49,000
%
%
years
MI avg
%
$
Monthly Payment (PITI)
$1,703
Principal + Interest + Tax + Insurance + PMI
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Principal & Interest
$1,239
per month
Taxes & Insurance
$464
per month
Total Interest Paid
$250K
over 30 years
Total Loan Cost
$446K
all payments
Payment Breakdown
Loan Amount$196,000
Principal & Interest$1,239
Property Taxes$314
Homeowners Insurance$150
Total Monthly PITI$1,703

Closing Costs — Marquette, MI

Estimated closing costs based on Michigan rates and fees applied to Marquette prices.

$
%
Michigan: Avg closing costs 1.5% of price. Transfer tax: 0.86%.
Estimated Closing Costs
$11,547
4.7% of purchase price
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Lender Fees
$2,189
origination, underwriting
Third-Party
$2,675
appraisal, title, inspection
Government Fees
$2,107
transfer taxes, recording
Prepaids + Escrow
$4,576
taxes, insurance, interest
Itemized Costs
Loan Origination (0.8%)$1,764
Underwriting Fee$350
Credit Report$75
Appraisal$550
Home Inspection$450
Title Search + Insurance$1,525
Recording Fee$150
Transfer Tax$2,107
Prepaid Taxes (3 mo)$943
Prepaid Insurance (12 mo)$1,800
Prepaid Interest (15 days)$589
Escrow Reserves$1,243
Total Closing Costs$11,547

Buying a Home in Marquette, Michigan

The median home price in Marquette is $245,000, roughly in line with the Michigan state median of $240,000. With a population of 20,946, Marquette is a smaller market where home prices reflect strong demand and local economic factors.

Property taxes in Michigan average 1.54% annually. This higher-than-average tax rate means a $245,000 home in Marquette would carry roughly $314/month in property taxes alone — plan accordingly. Homeowners insurance in Michigan runs approximately $1,800 per year. This is within the normal range nationally.

Average rent in Marquette is $1,080/month. The price-to-rent ratio in Marquette is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.

Marquette offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with Michigan's MSHDA DPA program.

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