Market Overview
Home Prices in Ishpeming, MI
The median home value in Ishpeming, MI is $199,928 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 8.7% compared to a year ago and up 6.6% from two years prior.
Compared to the U.S. national median of $410,000, homes in Ishpeming are priced51% below average. Ishpeming is part of the Marquette, MI metro area.
Over the past five years, Ishpeming home values have risen by approximately47.1%, reflecting strong long-term appreciation in this market.
Price History
Ishpeming Home Price Trend
City Comparison
Ishpeming vs. National Median
At $199,928, homes in Ishpeming cost 51% below the national median of $410,000. This makes Ishpeming a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Ishpeming?
20% Down Payment
$39,986
on $199,928
Monthly P&I
$1,043/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,325/mo
incl. taxes & insurance
Income Needed
$53,000
gross annual (30% rule)
10% Down Option
$19,993
+ PMI applies
Loan Amount (20% dn)
$159,942
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 Ishpeming, MI?
The median home value in Ishpeming is $199,928 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 8.7% year-over-year.
How much have home prices changed in Ishpeming?
Over the past year, home values in Ishpeming have increased by 8.7%. Over five years, prices have risen approximately 47.1%.
How much do I need to earn to buy a home in Ishpeming?
To comfortably afford the median home price of $199,928 with a 20% down payment ($39,986) at today's rates (6.8%), you'd need a gross annual income of approximately $53,000. This assumes keeping total housing costs at or below 30% of gross income.
How does Ishpeming compare to the national average home price?
The national median home value is approximately $410,000. At $199,928, homes in Ishpeming are 51% below the national average.
What metro area is Ishpeming part of?
Ishpeming is part of the Marquette, MI metropolitan area. Home prices and market conditions can vary across the broader metro region.