Market Overview
Home Prices in Hubbard Lake, MI
The median home value in Hubbard Lake, MI is $246,766 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 6.4% compared to a year ago and up 4% from two years prior.
Compared to the U.S. national median of $410,000, homes in Hubbard Lake are priced40% below average. Hubbard Lake is part of the Alpena, MI metro area.
Over the past five years, Hubbard Lake home values have risen by approximately27.3%, reflecting strong long-term appreciation in this market.
Price History
Hubbard Lake Home Price Trend
City Comparison
Hubbard Lake vs. National Median
At $246,766, homes in Hubbard Lake cost 40% below the national median of $410,000. This makes Hubbard Lake a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Hubbard Lake?
20% Down Payment
$49,353
on $246,766
Monthly P&I
$1,287/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,634/mo
incl. taxes & insurance
Income Needed
$65,360
gross annual (30% rule)
10% Down Option
$24,677
+ PMI applies
Loan Amount (20% dn)
$197,413
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 Hubbard Lake, MI?
The median home value in Hubbard Lake is $246,766 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 6.4% year-over-year.
How much have home prices changed in Hubbard Lake?
Over the past year, home values in Hubbard Lake have increased by 6.4%. Over five years, prices have risen approximately 27.3%.
How much do I need to earn to buy a home in Hubbard Lake?
To comfortably afford the median home price of $246,766 with a 20% down payment ($49,353) at today's rates (6.8%), you'd need a gross annual income of approximately $65,360. This assumes keeping total housing costs at or below 30% of gross income.
How does Hubbard Lake compare to the national average home price?
The national median home value is approximately $410,000. At $246,766, homes in Hubbard Lake are 40% below the national average.
What metro area is Hubbard Lake part of?
Hubbard Lake is part of the Alpena, MI metropolitan area. Home prices and market conditions can vary across the broader metro region.