Market Overview
Home Prices in Honor, MI
The median home value in Honor, MI is $422,849 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 7.9% compared to a year ago and up 1.7% from two years prior.
Compared to the U.S. national median of $410,000, homes in Honor are priced3% above average. Honor is part of the Traverse City, MI metro area.
Over the past five years, Honor home values have risen by approximately35.5%, reflecting strong long-term appreciation in this market.
Price History
Honor Home Price Trend
City Comparison
Honor vs. National Median
At $422,849, homes in Honor cost 3% above the national median of $410,000. Buyers in Honor should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Honor?
20% Down Payment
$84,570
on $422,849
Monthly P&I
$2,205/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,800/mo
incl. taxes & insurance
Income Needed
$112,000
gross annual (30% rule)
10% Down Option
$42,285
+ PMI applies
Loan Amount (20% dn)
$338,279
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 Honor, MI?
The median home value in Honor is $422,849 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 7.9% year-over-year.
How much have home prices changed in Honor?
Over the past year, home values in Honor have increased by 7.9%. Over five years, prices have risen approximately 35.5%.
How much do I need to earn to buy a home in Honor?
To comfortably afford the median home price of $422,849 with a 20% down payment ($84,570) at today's rates (6.8%), you'd need a gross annual income of approximately $112,000. This assumes keeping total housing costs at or below 30% of gross income.
How does Honor compare to the national average home price?
The national median home value is approximately $410,000. At $422,849, homes in Honor are 3% above the national average.
What metro area is Honor part of?
Honor is part of the Traverse City, MI metropolitan area. Home prices and market conditions can vary across the broader metro region.