Rates by city
Mortgage rates in Midland, Michigan
Midland is a company town in the best sense — Dow's global headquarters gives it high incomes, low unemployment, and one of the most stable housing markets in Michigan, all under a below-average county tax rate.
That estimate applies Midland County's ~1.3% effective rate to the median price. Your real bill uncaps when you buy — resetting to about half the sale price — and the homestead exemption trims it if you file on time. How the tax bill actually works.
Down payment help in Midland
Midland's mid-range prices leave some homes within MSHDA limits and others just above; verify the specific price. The strong local employment base makes income documentation unusually straightforward for buyers.
The Midland market
Stable, well-documented Dow and healthcare incomes make Midland an easy market for lenders, and steady demand keeps values firm without the volatility of larger metros. The county's lower ~1.3% effective tax rate further improves affordability on an already-reasonable median.
Neighborhoods buyers ask about: Grove Park · Longview · Whitman · Eastlawn · Downtown Midland
Today's Michigan rates
| Loan type | Rate | APR | Weekly change |
|---|---|---|---|
| 30-Year Fixed | 7.12% | 7.19% | ▾ 0.03 pts |
| 15-Year Fixed | 6.57% | 6.66% | ▴ + 0.05 pts |
| FHA 30-Year | 6.90% | 7.67% | ▾ 0.14 pts |
| VA 30-Year | 6.76% | 6.95% | ▾ 0.03 pts |
Source: Optimal Blue national locked-rate indices via FRED (refinance modeled). National averages of locked rates, not lender quotes; where they come from.
Estimate your exact payment with Midland County's tax rate in the Midland payment calculator, and see whether you qualify for Michigan's first-time buyer programs before assuming you need 20% down.
Frequently asked questions
Why is Midland's housing market so stable?
A concentrated, high-income employment base. Dow Chemical's headquarters and the regional healthcare sector provide stable, well-documented incomes that lenders approve easily and that hold home values steady — with less of the boom-and-bust swing seen in larger Michigan metros.
What is the monthly payment on a typical Midland home?
On Midland's median price of about $230,000 with 10% down at this week's 7.12% average rate, expect roughly $1,793/month including Midland County property taxes at ~1.3% and insurance.
Are mortgage rates different in Midland than the rest of Michigan?
The interest rate itself is the same statewide — what changes in Midland is everything around it: Midland County's ~1.3% effective property tax, local insurance costs, and which down payment assistance programs apply.