Market Overview
Home Prices in Dollar Bay, MI
The median home value in Dollar Bay, MI is $183,206 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 8.9% compared to a year ago and down 7.6% from two years prior.
Compared to the U.S. national median of $410,000, homes in Dollar Bay are priced55% below average. Dollar Bay is part of the Houghton, MI metro area.
Over the past five years, Dollar Bay home values have risen by approximately24.8%, reflecting strong long-term appreciation in this market.
Price History
Dollar Bay Home Price Trend
City Comparison
Dollar Bay vs. National Median
At $183,206, homes in Dollar Bay cost 55% below the national median of $410,000. This makes Dollar Bay a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Dollar Bay?
20% Down Payment
$36,641
on $183,206
Monthly P&I
$955/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,213/mo
incl. taxes & insurance
Income Needed
$48,520
gross annual (30% rule)
10% Down Option
$18,321
+ PMI applies
Loan Amount (20% dn)
$146,565
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 Dollar Bay, MI?
The median home value in Dollar Bay is $183,206 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 8.9% year-over-year.
How much have home prices changed in Dollar Bay?
Over the past year, home values in Dollar Bay have increased by 8.9%. Over five years, prices have risen approximately 24.8%.
How much do I need to earn to buy a home in Dollar Bay?
To comfortably afford the median home price of $183,206 with a 20% down payment ($36,641) at today's rates (6.8%), you'd need a gross annual income of approximately $48,520. This assumes keeping total housing costs at or below 30% of gross income.
How does Dollar Bay compare to the national average home price?
The national median home value is approximately $410,000. At $183,206, homes in Dollar Bay are 55% below the national average.
What metro area is Dollar Bay part of?
Dollar Bay is part of the Houghton, MI metropolitan area. Home prices and market conditions can vary across the broader metro region.