What your paycheck buys · Updated every Friday

What a paycheck buys in Michigan this week

A stretch · #9 of 50 on affordability · rate for the week of October 22, 2026

A median Michigan household earning $76,800 a year can afford a home of about $242,000 at this week’s 7.32% average 30-year rate. The median Michigan listing is $299,900, which would take 34.6% of that household’s gross income, against the usual 28% ceiling.

$242,000

Affordable home price

+$1,599 vs. last week · −$31,568 vs. a year ago

$300,000

Median list price (September 2026)

+$1,450 vs. a year earlier

Affordability index (100 = within reach)

U.S. 66 · Michigan 92 a year ago

34.6%

Share of income the median listing takes

$2,216/mo incl. taxes & insurance · U.S. 42.5%

$77,000

Median household income (2025)

U.S. $87,000

Rank of 50 (1 = most affordable)

See the full ranking

Compared with a year ago

A year ago, with the 30-year rate at 6.19%, a median list price of $298,450 and median income of $78,860 (2024 figure), the same household could afford about $274,000 and the median listing took 30.5% of income. Affordability in Michigan has worsened since then.

Nearby in the ranking

#7 Pennsylvania: can afford $271,000, median listing $309,000
#8 Maryland: can afford $367,000, median listing $425,000
#10 Indiana: can afford $241,000, median listing $299,000
#11 Oklahoma: can afford $238,000, median listing $297,000

Run your own numbers →

How this is calculated: 28% of gross monthly income for housing, 10% down, a 30-year fixed loan at Freddie Mac’s weekly average, and 1.45% of the price a year for taxes and insurance. Full method, caveats, and sources on the main index page. An educational gauge, not a mortgage quote.