In short
In Michoacán, homes bought with a mortgage were appraised at a median of MX$1,178,900 from January to June 2026 (SHF). Appraisal values in Michoacán changed by +7.2% over a year (SHF index, second quarter of 2026). The average fixed-rate mortgage offer was 11.31% in August 2026 (Banco de México).
Calculate for Michoacán
Buying: in Michoacán the acquisition tax is set by each municipality. Payotte computes it on the pages of: Morelia. Mortgage calculator.
The questions, answered
How much acquisition tax on a MX$3 million home in Michoacán?
It depends on the municipality: on a MX$3 million home in Michoacán, MX$57,431 in Morelia, under the 2026 laws read by Payotte.
Are home prices rising in Michoacán?
The SHF price index for Michoacán changed by +7.2% between the second quarters of 2025 and 2026, against +7.3% for Mexico; it measures appraisal values of homes bought with a mortgage (Sociedad Hipotecaria Federal).
What does a home cost in Michoacán?
From January to June 2026, homes bought with a mortgage in Michoacán were appraised at a median of MX$1,178,900 and a mean of MX$1,587,258; half of them were appraised between MX$799,775 and MX$1,797,716 (SHF). These are appraisal values, not sale prices.
What monthly payment on a MX$3 million home in Michoacán?
MX$2,400,000 borrowed (20% down) costs MX$25,281 a month over 20 years at 11.31% (Banco de México, August 2026); average CAT 13.78%.
How much tax when you sell a home in Michoacán?
Federal rules apply in Michoacán as in every state: a seller who is not a Mexican tax resident pays by default 25% of the gross price (LISR art. 160), MX$750,000 on a MX$3 million sale, paid by the notary; a resident selling their own home is exempt up to 700,000 UDIS, about MX$6,199,266 at 15 October 2026 (art. 93-XIX-a).
How Michoacán compares
Michoacán sets no single rate: the acquisition tax is municipal, and Payotte computes 1 of its municipios. On a MX$3 million home it runs from MX$57,431 in Morelia to MX$57,431 in Morelia; the spread is MX$0, 1 times the lowest. The median of all 54 areas computed is MX$75,000.
The recording fee of Michoacán depends on the state alone: MX$1,349 on MX$1 million, MX$1,349 on MX$3 million and MX$1,349 on MX$8 million, the same at every price, with a fixed part of MX$1,349.
In Michoacán, homes bought with a mortgage were appraised at a median of MX$1,178,900 from January to June 2026: the 22nd highest of the 32 entities, 9.3% below the national median of MX$1,299,580. The mean, MX$1,587,258, is 1.35 times the median, a sign of a few very expensive appraisals pulling it up; the upper quartile bound is 2.2 times the lower one. In that picture, a MX$3 million purchase is above the upper quartile bound of MX$1,797,716, in the top quarter of mortgage-financed homes.
The SHF price index of Michoacán rose +7.2% in a year, 0.1 points slower than Mexico's +7.3%: 18th of 32 entities ranked. The 2025 SNIIV count is 8,708 home loans to individuals in Michoacán, 1.8 per 1,000 residents of the 2020 census (median entity: 3.8), for an average of MX$961,625, 0.82 times the median appraisal. 14.7% of homes are rented there (2024), near the median entity's 14.4%, 16th highest.
A buyer at the state median appraisal with 20% down borrows MX$943,120; at the Banco de México average of 11.31% over 20 years that is MX$9,935 a month, against MX$25,281 for the MX$3 million example of this page.
| Measure | Value | Reference | Rank |
|---|---|---|---|
| Median appraisal | MX$1,178,900 | Mexico MX$1,299,580 | 22nd of 32 |
| Mean appraisal | MX$1,587,258 | Mexico MX$1,960,032 | 21st of 32 |
| Quartiles of appraisals | MX$799,775 to MX$1,797,716 | Mexico MX$843,000 to MX$2,226,101 | ratio 2.25 |
| SHF price index, one year | +7.2% | Mexico +7.3% | 18th of 32 |
| Home loans to individuals, 2025 | 8,708 | average MX$961,625 | 20th of 32 |
| Loans per 1,000 residents | 1.8 | median entity 3.8 | 24th of 32 |
| Residents, 2020 census | 4,748,846 | 3.77% of Mexico | 9th of 32 |
| Homes rented, 2024 | 14.7% | median entity 14.4% | 16th of 32 |
| Municipios computed | 1 | 1 listed | from MX$57,431 to MX$57,431 |
The figures
| Measure | Value | Source |
|---|---|---|
| SHF price index, Michoacán, change over a year | +7.2% | SHF, Q2 2026 |
| SHF price index, Michoacán, change over a year | +7.2% | SHF, Q2 2026 |
| Median appraisal value, Michoacán (Jan.-June 2026) | MX$1,178,900 | SHF |
| Mean appraisal value, Michoacán (Jan.-June 2026) | MX$1,587,258 | SHF |
| Home loans to individuals, Michoacán, 2025 (new and existing homes) | 8,708 | SNIIV |
| Average amount of those loans | MX$961,625 | SNIIV |
| Share of homes rented, Michoacán (2024) | 14.7% | Payotte calculation, INEGI ENIGH 2024 |
| Average fixed-rate mortgage offer (Aug. 2026) | 11.31% | Banco de México, CF303 |
The SHF publishes home prices in pesos by state only; for a municipality it publishes an index, not a price. The share of rented homes is Payotte's weighted count on 2,075 sampled homes of Michoacán in INEGI's ENIGH 2024, without a margin of error.
Municipalities of Michoacán on Payotte
Sources
- Recording fee: IRYCEM, Registro Público de la Propiedad costs 2026, from Decreto Legislativo 385 (P.O. 9 Dec. 2025), art. 23-I-C.
- Prices: Sociedad Hipotecaria Federal, Índice SHF de Precios de la Vivienda en México, second quarter of 2026 (press release 05/2026, 10 August 2026), consulted 2026-10-15 (data).
- Loans: SEDATU, Sistema Nacional de Información e Indicadores de Vivienda (SNIIV), open data « Financiamientos » 2025; Banco de México, SIE, Tasas de Interés de Crédito a los Hogares (CF303), Indicador del Costo de Créditos Hipotecarios, August 2026.
- Renting: INEGI, Encuesta Nacional de Ingresos y Gastos de los Hogares (ENIGH) 2024, housing microdata; share of rented homes computed by Payotte, no margin of error.