Market Overview
Home Prices in Farwell, MI
The median home value in Farwell, MI is $215,438 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 10.2% compared to a year ago and up 4.2% from two years prior.
Compared to the U.S. national median of $410,000, homes in Farwell are priced47% below average. Farwell is part of the Mount Pleasant, MI metro area.
Over the past five years, Farwell home values have risen by approximately35.9%, reflecting strong long-term appreciation in this market.
Price History
Farwell Home Price Trend
City Comparison
Farwell vs. National Median
At $215,438, homes in Farwell cost 47% below the national median of $410,000. This makes Farwell a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Farwell?
20% Down Payment
$43,088
on $215,438
Monthly P&I
$1,124/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,427/mo
incl. taxes & insurance
Income Needed
$57,080
gross annual (30% rule)
10% Down Option
$21,544
+ PMI applies
Loan Amount (20% dn)
$172,350
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 Farwell, MI?
The median home value in Farwell is $215,438 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 10.2% year-over-year.
How much have home prices changed in Farwell?
Over the past year, home values in Farwell have increased by 10.2%. Over five years, prices have risen approximately 35.9%.
How much do I need to earn to buy a home in Farwell?
To comfortably afford the median home price of $215,438 with a 20% down payment ($43,088) at today's rates (6.8%), you'd need a gross annual income of approximately $57,080. This assumes keeping total housing costs at or below 30% of gross income.
How does Farwell compare to the national average home price?
The national median home value is approximately $410,000. At $215,438, homes in Farwell are 47% below the national average.
What metro area is Farwell part of?
Farwell is part of the Mount Pleasant, MI metropolitan area. Home prices and market conditions can vary across the broader metro region.