Market Overview
Home Prices in Fraser, MI
The median home value in Fraser, MI is $241,390 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 4% compared to a year ago and up 2.3% from two years prior.
Compared to the U.S. national median of $410,000, homes in Fraser are priced41% below average. Fraser is part of the Detroit-Warren-Dearborn, MI metro area.
Over the past five years, Fraser home values have risen by approximately25.1%, reflecting strong long-term appreciation in this market.
Price History
Fraser Home Price Trend
City Comparison
Fraser vs. National Median
At $241,390, homes in Fraser cost 41% below the national median of $410,000. This makes Fraser a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Fraser?
20% Down Payment
$48,278
on $241,390
Monthly P&I
$1,259/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,599/mo
incl. taxes & insurance
Income Needed
$63,960
gross annual (30% rule)
10% Down Option
$24,139
+ PMI applies
Loan Amount (20% dn)
$193,112
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 Fraser, MI?
The median home value in Fraser is $241,390 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 4% year-over-year.
How much have home prices changed in Fraser?
Over the past year, home values in Fraser have increased by 4%. Over five years, prices have risen approximately 25.1%.
How much do I need to earn to buy a home in Fraser?
To comfortably afford the median home price of $241,390 with a 20% down payment ($48,278) at today's rates (6.8%), you'd need a gross annual income of approximately $63,960. This assumes keeping total housing costs at or below 30% of gross income.
How does Fraser compare to the national average home price?
The national median home value is approximately $410,000. At $241,390, homes in Fraser are 41% below the national average.
What metro area is Fraser part of?
Fraser is part of the Detroit-Warren-Dearborn, MI metropolitan area. Home prices and market conditions can vary across the broader metro region.