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City · 14,632 residents · Shiawassee County, Michigan

Owosso , Michigan

In Owosso, a typical home is worth $132,600 and typical rent is $784 a month. Compared with all of Shiawassee County, the typical home value is 23% lower, typical household income is 20% lower, and the share of households that own their home is 12 points lower.

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  • Typical home value

    $132,600

    23% below the county

    43% below Michigan

    • Owosso
    • Shiawassee
    • Michigan

  • Typical rent

    $784a month

    13% below the county

    31% below Michigan

    • Owosso
    • Shiawassee
    • Michigan

  • Typical household income

    $54,229a year

    20% below the county

    26% below Michigan

    • Owosso
    • Shiawassee
    • Michigan

  • Households that own their home

    68%

    12 points below the county

    5 points below Michigan

    • Owosso
    • Shiawassee
    • Michigan

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$189,563
4.8% more than 12 months ago

From Zillow (ZHVI), September 2026. The Census figures above are 5-year averages (2020–2024).

Owosso is in Shiawassee County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Shiawassee County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Owosso apart

What this place has that others do not, from public data, most unusual first.

  1. The typical home in Owosso is worth $132,600, 23% less than in Shiawassee County as a whole ($171,600).

  2. 68% of households in Owosso own their home, against 80% in Shiawassee County.

  3. The typical household income in Owosso is $54,229, 20% less than in Shiawassee County as a whole ($67,404).

  4. Owosso has the 13th lowest typical rent of the 175 cities in Michigan with more than 5,000 people ($784).

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Owosso

What homes there are in Owosso, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

In Owosso, 7 in 10 homes are single-family detached houses; in Shiawassee County, 8.

Year built

In Owosso, half of the homes were built before 1951; in Shiawassee County, before 1969.

There are fewer big homes in Owosso than in Shiawassee County: 59% have 3 bedrooms or more, against 70%.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes

At least 98% of owner-occupied homes in Owosso are worth less than $500,000, below the FHA loan limit for Shiawassee County ($541,287).

Monthly rent with utilities

HUD's 2-bedroom fair market rent (FMR) for Shiawassee County is $1,085; about 74% of rents in Owosso are below it.

With a mortgage

$1,135 a month

Shiawassee County: $1,352 a month

Without a mortgage

$507 a month

Shiawassee County: $552 a month

Owners with a mortgage

59%

Shiawassee County: 56%

Owning costs less in Owosso: with a mortgage, the typical cost is $1,135 a month; in Shiawassee County, $1,352. Without one, $507.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

The typical home value in Owosso rose 57% since 2015–2019, more than in Shiawassee County (40%).

The typical rent in Owosso stayed about the same over that time: the difference is within the Census margin of error.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureOwossoShiawassee CountyMichiganUnited States
Rental vacancy Unreliable estimateUnreliable estimate5.1%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate0.8%0.9%
More than one person per room Unreliable estimate1.1%1.6%3.4%
People per household 2.292.392.422.53
Drive alone 81%80%74%69%
Carpool 9%9%8%9%
Public transit Unreliable estimateUnreliable estimate1%3%
Walk or bike 4%2%2%3%
Work from home 6%8%14%15%
Other means Unreliable estimate1%1%2%
Typical commute 10 to 19 minutes20 to 29 minutes20 to 29 minutes20 to 29 minutes

Much as in Shiawassee County, a household in Owosso has 2.29 people on average.

In Owosso, 81% of workers drive alone to work; in Shiawassee County, 80%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Owosso?

A typical home is within reach of the typical income

We start with a typical home in Owosso, worth $132,600, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 26% of the typical household income in Owosso, which is $54,229 a year.

The calculator's FHA and conventional loan limits are those of all of Shiawassee County.

Your numbers

Local data
$

Starts at the typical home value in Owosso. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $4,641 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$1,182

at 7.18% · 30 years

Loan amount
$130,198
Total interest
$187,325
Paid off in
November 2056

Includes $2,239 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,265 a month

    Your payment · 26%

  • Tight

    $1,265 to $1,627 a month

  • Hard

    more than $1,627 a month

Compared with the typical household income in Owosso ($54,229 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$1,182
Principal & interest$882
Property tax$186
Home insurance$55
FHA mortgage insurance (MIP)$59

You need at least $4,641 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Owosso and Shiawassee County

Owosso is in Shiawassee County, Michigan. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Owosso's own numbers

Typical home value
$132,600
Typical monthly rent
$784
Typical yearly household income
$54,229
Households that own their home
68%
Effective property tax rate
1.68%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Shiawassee County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,085
Price change over 5 years (FHFA)
+53%
Homes in a high flood-risk zone
3.9%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Shiawassee County.

Everything about Shiawassee County

Buying

Buying a home in Owosso

A typical home in Owosso is worth $132,600: 23% below the county and 43% below Michigan. With the typical household income in Owosso ($54,229 a year), a typical home costs 2.4 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Owosso 2.4 years
  • Shiawassee 2.5 years
  • Michigan 3.2 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Shiawassee County

According to FHFA’s house price index, home prices in Shiawassee County rose 102% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Shiawassee County.

Period County Michigan U.S.
Last year (2025) +5.4% +4.7% +2.9%
5 years (2020–2025) +53% +52% +47%
10 years (2015–2025) +102% +97% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Owosso next to Shiawassee County, Michigan and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Owosso $132,600
  • Shiawassee $171,600
  • Michigan $231,600
  • United States $332,700
Typical monthly rent
  • Owosso $784
  • Shiawassee $899
  • Michigan $1,129
  • United States $1,413
Typical yearly household income
  • Owosso $54,229
  • Shiawassee $67,404
  • Michigan $72,875
  • United States $80,734
See the full table
Owosso next to Shiawassee County and Michigan
Measure Owosso Shiawassee County Michigan U.S.
Typical home value $132,600 $171,600 $231,600 $332,700
Typical monthly rent $784 $899 $1,129 $1,413
Typical yearly household income $54,229 $67,404 $72,875 $80,734
Households that own their home 68% 80% 73% 65%
Typical yearly property tax $2,229 $2,251 $2,904 $3,119
Effective property tax rate 1.68% 1.31% 1.25% 0.94%
Renters with high rent for their income 49% 47% 50% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Shiawassee County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Owosso

For a typical $132,600 home in Owosso, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Owosso's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $1,182a month

    Least cash to close
    Down payment
    $4,641
    Cash to close
    $8,619
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $59

  • Conventional, 5% down $1,157a month

    Down payment
    $6,630
    Cash to close
    $10,608
    Rate
    7.18%
    Mortgage insurance
    PMI · $63

  • Conventional, 20% down, no PMI $960a month

    Down payment
    $26,520
    Cash to close
    $30,498
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $1,082a month

    Down payment
    $19,890
    Cash to close
    $23,868
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Owosso and for Shiawassee County.

Property tax

Effective rate in Owosso

1.68%of the home’s value each year

$2,229 a year for the typical owner in Owosso.

  • Owosso 1.68%
  • Shiawassee 1.31%
  • Michigan 1.25%

What Michigan publishes Principal Residence Exemption (PRE) from school operating tax (Michigan Legislature (Michigan Compiled Laws))

Exemptions and deadlines in Michigan

Flood risk in Shiawassee County

FEMA does not publish these numbers by city: they are for all of Shiawassee County.

Homes in the high-risk zone
3.9%
726
Of those, with NFIP insurance
28%
County Michigan U.S.
Homes in the high-risk zone 3.9% 1.6% 3.5%
Of those, with NFIP insurance 28% 18% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Owosso

Typical rent in Owosso is $784 a month: 13% below the county. In Owosso, 49% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Shiawassee County, by unit size. To pay the 2-bedroom one ($1,085 a month) without spending more than 30% of your income, you would need to earn $20.87 an hour working full time.

HUD fair market rent for all of Shiawassee County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $798 $15.35 $31,920
1 bedroom $829 $15.94 $33,160
2 bedrooms $1,085 $20.87 $43,400
3 bedrooms $1,457 $28.02 $58,280
4 bedrooms $1,644 $31.62 $65,760

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Owosso

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Owosso is in ZIP code 48867.

For 2 bedrooms it is $1,040: $45 less than the fair market rent for Shiawassee County ($1,085).

  • 48867 $1,040$1,400

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Owosso when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Owosso

HUD lists 7 buildings with rents for lower incomes in Owosso. These are the largest.

  • Kona Villa Apts 1299 S Shiawassee St, Owosso 48867 120 low-income homes · 1 bd: 78 · 2 bd: 30 · 3 bd: 12 · In service since 2006 · For older adults, families (989) 725-6337
  • Ginger Square 1200 Penbrook Dr, Owosso 48867 108 low-income homes · 1 bd: 6 · 2 bd: 60 · 3 bd: 32 · 4 bd: 10 · In service since 2010 · For families (989) 723-1331
  • Cider Mill Apts 1850 Babcock St, Owosso 48867 48 homes, 47 low-income · 1 bd: 16 · 2 bd: 32 · In service since 2002 · For families
  • Kingswood Estate 2110 S Chipman St, Owosso 48867 120 homes, 45 low-income · For families (517) 723-7453
  • JPS Owosso 219 Cleveland Ave, Owosso 48867 44 low-income homes · 1 bd: 40 · 2 bd: 4 · In service since 2013 · For older adults

See all 14 buildings in Shiawassee County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Owosso

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

We found no HUD-approved agencies with an office in Shiawassee County. The nearest ones are below; many serve by phone or online.

A young man and a young woman look something up together on a laptop.

HUD counseling is free or low-cost

Assistance programs in Owosso

No down payment, repair or rent-help program on our list is for Owosso or Shiawassee County. The ones below are statewide in Michigan: they work in Owosso the same as in the rest of the state.

Which programs do I qualify for? All programs in Michigan

  • MI 10K DPA Loan

    Statewide in Michigan

    Michigan state agency loan of up to $10,000, with no interest and no monthly payments, for the down payment, closing costs and prepaid expenses; it goes with MSHDA's MI Home Loan mortgage and is repaid in certain cases, such as when you pay off the first mortgage, sell or refinance the home, or no longer live in it. Offered by Michigan State Housing Development Authority (MSHDA).

    Deferred

    See the program Official page

  • Mortgage Credit Certificate (MCC)

    Statewide in Michigan

    Michigan state authority certificate that lets you take 20% of the interest you pay each year on your mortgage off your federal taxes, for the life of the loan; you apply with an approved lender before you buy. Offered by Michigan State Housing Development Authority (MSHDA).

    Tax credit

    See the program Official page

Housing counselors near Owosso

The HUD-approved agencies closest to the center of Owosso, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Michigan State University Extension Services

    446 W Circle Dr, East Lansing · 24 miles away

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 4 more
    (586) 469-7610

  • Genesee County Habitat for Humanity

    101 Burton St, Flint · 25 miles away

    • Fair housing pre-purchase workshops
    • Pre-purchase counseling
    • and 2 more
    (810) 766-9089

  • Metro Community Development, Inc.

    1174 Robert T Longway Blvd, Flint · 25 miles away

    • Budget and financial counseling
    • Budget and credit workshops
    • and 3 more
    810-767-4622-370

All counseling agencies in Michigan

Help in Spanish near Owosso

None of the 3 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Owosso

HUD lists no housing authority with an office in Shiawassee County. One in a neighboring county or the state’s may serve the area.

All housing agencies in Michigan Source: HUD

Cities

Nearby cities

The cities closest to Owosso, with the typical home value.

Everything about Shiawassee County Housing in Michigan

Neighboring counties

If Shiawassee County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Owosso.

All guides
A father smiles as he carries his baby on his shoulders outdoors.

Questions

Housing questions about Owosso

Short answers with the numbers for Owosso and all of Shiawassee County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Owosso?

The typical home value in Owosso is $132,600, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Shiawassee County it is $171,600.

How much does it cost to rent in Owosso?

Typical rent in Owosso is $784 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Shiawassee County is $1,085.

What is the FHA loan limit in Owosso?

Owosso uses the FHA limit for all of Shiawassee County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Owosso?

The typical homeowner in Owosso pays $2,229 a year, according to the U.S. Census Bureau. That is 1.68% of the home’s value; in Shiawassee County, the rate is 1.31%.

Where can I find free help to buy or rent in Owosso?

We found no HUD-approved counseling agencies with an office in Shiawassee County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).