Market Overview
Home Prices in Bessemer, MI
The median home value in Bessemer, MI is $114,960 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 4.7% compared to a year ago and up 6.8% from two years prior.
Compared to the U.S. national median of $410,000, homes in Bessemer are priced72% below average.
Over the past five years, Bessemer home values have risen by approximately38.1%, reflecting strong long-term appreciation in this market.
Price History
Bessemer Home Price Trend
2020
$62,011
$62K
—
2021
$83,231
$83K
+34.2%
2022
$94,472
$94K
+13.5%
2023
$91,625
$92K
-3.0%
2024
$102,809
$103K
+12.2%
2025
$109,775
$110K
+6.8%
2026
$114,960
$115K
+4.7%
City Comparison
Bessemer vs. National Median
🏠 Bessemer
$114,960
National Median
$410,000
At $114,960, homes in Bessemer cost 72% below the national median of $410,000. This makes Bessemer a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Bessemer?
20% Down Payment
$22,992
on $114,960
Monthly P&I
$600/mo
30-yr @ 6.8%
Total Monthly Est.
~$762/mo
incl. taxes & insurance
Income Needed
$30,480
gross annual (30% rule)
10% Down Option
$11,496
+ PMI applies
Loan Amount (20% dn)
$91,968
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Bessemer, MI?
The median home value in Bessemer is $114,960 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 4.7% year-over-year.
How much have home prices changed in Bessemer?
Over the past year, home values in Bessemer have increased by 4.7%. Over five years, prices have risen approximately 38.1%.
How much do I need to earn to buy a home in Bessemer?
To comfortably afford the median home price of $114,960 with a 20% down payment ($22,992) at today's rates (6.8%), you'd need a gross annual income of approximately $30,480. This assumes keeping total housing costs at or below 30% of gross income.
How does Bessemer compare to the national average home price?
The national median home value is approximately $410,000. At $114,960, homes in Bessemer are 72% below the national average.