According to data from ClosingCorp, the average closing cost in Michigan is $4,210.71 after taxes, or approximately 2.11% to 4.21% of the final home sale price.
Across the state, the average home sells for between $100,000 and $200,000. If you buy a property in that range, expect to pay between $2,105.36 and $8,421.42 in closing costs after taxes.
| Data | Value |
|---|---|
| Average home sale price | $100,000 to $200,000 |
| Average total closing cost | $4,210.71 |
| Expected closing cost range | $2,105.36 to $8,421.42 |
| Percentage of closing cost to home sale price | 2.11% to 4.21% |
Buyers and sellers in Michigan pay an average of $1,365.98 in tax combined for the closing. This accounts for 32.44% of the total average closing cost in Michigan.
| Value | |
|---|---|
| Average tax paid | $1,365.98 |
| Percentage of total closing cost | 32.44% |
The closing costs for buying a home in Michigan are below the national average after accounting for taxes. It’s 17 in our rankings which rates states from lowest to highest closing cost.
| Average total closing cost in Michigan | Ranking* | |
|---|---|---|
| Before taxes | $2,844.73 | 30 |
| After taxes | $4,210.71 | 17 |
*Ranked from lowest to highest of the 50 states plus Washington DC
Closing costs are inevitable when you're buying or selling a property. The exact amount will vary depending on where the property is located in Michigan.
To save on your home loan, consider comparing the fees and rates of top lenders before signing.
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