Market Overview
Home Prices in Ithaca, MI
The median home value in Ithaca, MI is $203,515 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 9.8% compared to a year ago and up 0.5% from two years prior.
Compared to the U.S. national median of $410,000, homes in Ithaca are priced50% below average. Ithaca is part of the Alma, MI metro area.
Over the past five years, Ithaca home values have risen by approximately17.9%, reflecting steady appreciation in this market.
Price History
Ithaca Home Price Trend
2020
$146,997
$147K
—
2021
$172,582
$173K
+17.4%
2022
$186,304
$186K
+8.0%
2023
$189,825
$190K
+1.9%
2024
$184,521
$185K
-2.8%
2025
$185,421
$185K
+0.5%
2026
$203,515
$204K
+9.8%
City Comparison
Ithaca vs. National Median
🏠 Ithaca
$203,515
National Median
$410,000
At $203,515, homes in Ithaca cost 50% below the national median of $410,000. This makes Ithaca a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Ithaca?
20% Down Payment
$40,703
on $203,515
Monthly P&I
$1,061/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,347/mo
incl. taxes & insurance
Income Needed
$53,880
gross annual (30% rule)
10% Down Option
$20,352
+ PMI applies
Loan Amount (20% dn)
$162,812
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 Ithaca, MI?
The median home value in Ithaca is $203,515 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 9.8% year-over-year.
How much have home prices changed in Ithaca?
Over the past year, home values in Ithaca have increased by 9.8%. Over five years, prices have risen approximately 17.9%.
How much do I need to earn to buy a home in Ithaca?
To comfortably afford the median home price of $203,515 with a 20% down payment ($40,703) at today's rates (6.8%), you'd need a gross annual income of approximately $53,880. This assumes keeping total housing costs at or below 30% of gross income.
How does Ithaca compare to the national average home price?
The national median home value is approximately $410,000. At $203,515, homes in Ithaca are 50% below the national average.
What metro area is Ithaca part of?
Ithaca is part of the Alma, MI metropolitan area. Home prices and market conditions can vary across the broader metro region.