Market Overview
Home Prices in Lake Ann, MI
The median home value in Lake Ann, MI is $414,116 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 3.1% compared to a year ago and up 4.1% from two years prior.
Compared to the U.S. national median of $410,000, homes in Lake Ann are priced1% above average. Lake Ann is part of the Traverse City, MI metro area.
Over the past five years, Lake Ann home values have risen by approximately42.8%, reflecting strong long-term appreciation in this market.
Price History
Lake Ann Home Price Trend
City Comparison
Lake Ann vs. National Median
At $414,116, homes in Lake Ann cost 1% above the national median of $410,000. Buyers in Lake Ann should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Lake Ann?
20% Down Payment
$82,823
on $414,116
Monthly P&I
$2,160/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,743/mo
incl. taxes & insurance
Income Needed
$109,720
gross annual (30% rule)
10% Down Option
$41,412
+ PMI applies
Loan Amount (20% dn)
$331,293
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 Lake Ann, MI?
The median home value in Lake Ann is $414,116 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 3.1% year-over-year.
How much have home prices changed in Lake Ann?
Over the past year, home values in Lake Ann have increased by 3.1%. Over five years, prices have risen approximately 42.8%.
How much do I need to earn to buy a home in Lake Ann?
To comfortably afford the median home price of $414,116 with a 20% down payment ($82,823) at today's rates (6.8%), you'd need a gross annual income of approximately $109,720. This assumes keeping total housing costs at or below 30% of gross income.
How does Lake Ann compare to the national average home price?
The national median home value is approximately $410,000. At $414,116, homes in Lake Ann are 1% above the national average.
What metro area is Lake Ann part of?
Lake Ann is part of the Traverse City, MI metropolitan area. Home prices and market conditions can vary across the broader metro region.