Market Overview
Home Prices in Hillman, MI
The median home value in Hillman, MI is $190,565 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 0.9% compared to a year ago and up 3.2% from two years prior.
Compared to the U.S. national median of $410,000, homes in Hillman are priced54% below average. Hillman is part of the Alpena, MI metro area.
Over the past five years, Hillman home values have risen by approximately11.7%, reflecting steady appreciation in this market.
Price History
Hillman Home Price Trend
2020
$147,305
$147K
—
2021
$170,658
$171K
+15.9%
2022
$182,275
$182K
+6.8%
2023
$186,178
$186K
+2.1%
2024
$183,002
$183K
-1.7%
2025
$188,938
$189K
+3.2%
2026
$190,565
$191K
+0.9%
City Comparison
Hillman vs. National Median
🏠 Hillman
$190,565
National Median
$410,000
At $190,565, homes in Hillman cost 54% below the national median of $410,000. This makes Hillman a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Hillman?
20% Down Payment
$38,113
on $190,565
Monthly P&I
$994/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,262/mo
incl. taxes & insurance
Income Needed
$50,480
gross annual (30% rule)
10% Down Option
$19,057
+ PMI applies
Loan Amount (20% dn)
$152,452
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 Hillman, MI?
The median home value in Hillman is $190,565 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 0.9% year-over-year.
How much have home prices changed in Hillman?
Over the past year, home values in Hillman have increased by 0.9%. Over five years, prices have risen approximately 11.7%.
How much do I need to earn to buy a home in Hillman?
To comfortably afford the median home price of $190,565 with a 20% down payment ($38,113) at today's rates (6.8%), you'd need a gross annual income of approximately $50,480. This assumes keeping total housing costs at or below 30% of gross income.
How does Hillman compare to the national average home price?
The national median home value is approximately $410,000. At $190,565, homes in Hillman are 54% below the national average.
What metro area is Hillman part of?
Hillman is part of the Alpena, MI metropolitan area. Home prices and market conditions can vary across the broader metro region.