Market Overview
Home Prices in Lake Odessa, MI
The median home value in Lake Odessa, MI is $271,234 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 7.9% compared to a year ago and up 3.9% from two years prior.
Compared to the U.S. national median of $410,000, homes in Lake Odessa are priced34% below average. Lake Odessa is part of the Grand Rapids-Kentwood, MI metro area.
Over the past five years, Lake Odessa home values have risen by approximately29.4%, reflecting strong long-term appreciation in this market.
Price History
Lake Odessa Home Price Trend
City Comparison
Lake Odessa vs. National Median
At $271,234, homes in Lake Odessa cost 34% below the national median of $410,000. This makes Lake Odessa a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Lake Odessa?
20% Down Payment
$54,247
on $271,234
Monthly P&I
$1,415/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,797/mo
incl. taxes & insurance
Income Needed
$71,880
gross annual (30% rule)
10% Down Option
$27,123
+ PMI applies
Loan Amount (20% dn)
$216,987
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 Odessa, MI?
The median home value in Lake Odessa is $271,234 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 Lake Odessa?
Over the past year, home values in Lake Odessa have increased by 7.9%. Over five years, prices have risen approximately 29.4%.
How much do I need to earn to buy a home in Lake Odessa?
To comfortably afford the median home price of $271,234 with a 20% down payment ($54,247) at today's rates (6.8%), you'd need a gross annual income of approximately $71,880. This assumes keeping total housing costs at or below 30% of gross income.
How does Lake Odessa compare to the national average home price?
The national median home value is approximately $410,000. At $271,234, homes in Lake Odessa are 34% below the national average.
What metro area is Lake Odessa part of?
Lake Odessa is part of the Grand Rapids-Kentwood, MI metropolitan area. Home prices and market conditions can vary across the broader metro region.