Market Overview
Home Prices in Grayling, MI
The median home value in Grayling, MI is $182,846 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 3.6% compared to a year ago and up 2.9% from two years prior.
Compared to the U.S. national median of $410,000, homes in Grayling are priced55% below average.
Over the past five years, Grayling home values have risen by approximately29.7%, reflecting strong long-term appreciation in this market.
Price History
Grayling Home Price Trend
2020
$115,118
$115K
—
2021
$140,933
$141K
+22.4%
2022
$163,284
$163K
+15.9%
2023
$157,100
$157K
-3.8%
2024
$171,622
$172K
+9.2%
2025
$176,516
$177K
+2.9%
2026
$182,846
$183K
+3.6%
City Comparison
Grayling vs. National Median
🏠 Grayling
$182,846
National Median
$410,000
At $182,846, homes in Grayling cost 55% below the national median of $410,000. This makes Grayling a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Grayling?
20% Down Payment
$36,569
on $182,846
Monthly P&I
$954/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,212/mo
incl. taxes & insurance
Income Needed
$48,480
gross annual (30% rule)
10% Down Option
$18,285
+ PMI applies
Loan Amount (20% dn)
$146,277
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 Grayling, MI?
The median home value in Grayling is $182,846 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 3.6% year-over-year.
How much have home prices changed in Grayling?
Over the past year, home values in Grayling have increased by 3.6%. Over five years, prices have risen approximately 29.7%.
How much do I need to earn to buy a home in Grayling?
To comfortably afford the median home price of $182,846 with a 20% down payment ($36,569) at today's rates (6.8%), you'd need a gross annual income of approximately $48,480. This assumes keeping total housing costs at or below 30% of gross income.
How does Grayling compare to the national average home price?
The national median home value is approximately $410,000. At $182,846, homes in Grayling are 55% below the national average.