Market Overview
Home Prices in Fife Lake, MI
The median home value in Fife Lake, MI is $248,057 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 2.2% compared to a year ago and up 1.5% from two years prior.
Compared to the U.S. national median of $410,000, homes in Fife Lake are priced39% below average. Fife Lake is part of the Traverse City, MI metro area.
Over the past five years, Fife Lake home values have risen by approximately25.4%, reflecting strong long-term appreciation in this market.
Price History
Fife Lake Home Price Trend
City Comparison
Fife Lake vs. National Median
At $248,057, homes in Fife Lake cost 39% below the national median of $410,000. This makes Fife Lake a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Fife Lake?
20% Down Payment
$49,611
on $248,057
Monthly P&I
$1,294/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,643/mo
incl. taxes & insurance
Income Needed
$65,720
gross annual (30% rule)
10% Down Option
$24,806
+ PMI applies
Loan Amount (20% dn)
$198,446
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 Fife Lake, MI?
The median home value in Fife Lake is $248,057 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 2.2% year-over-year.
How much have home prices changed in Fife Lake?
Over the past year, home values in Fife Lake have increased by 2.2%. Over five years, prices have risen approximately 25.4%.
How much do I need to earn to buy a home in Fife Lake?
To comfortably afford the median home price of $248,057 with a 20% down payment ($49,611) at today's rates (6.8%), you'd need a gross annual income of approximately $65,720. This assumes keeping total housing costs at or below 30% of gross income.
How does Fife Lake compare to the national average home price?
The national median home value is approximately $410,000. At $248,057, homes in Fife Lake are 39% below the national average.
What metro area is Fife Lake part of?
Fife Lake is part of the Traverse City, MI metropolitan area. Home prices and market conditions can vary across the broader metro region.