Market Overview
Home Prices in Lake Orion, MI
The median home value in Lake Orion, MI is $424,774 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 3.8% compared to a year ago and up 5.1% from two years prior.
Compared to the U.S. national median of $410,000, homes in Lake Orion are priced4% above average. Lake Orion is part of the Detroit-Warren-Dearborn, MI metro area.
Over the past five years, Lake Orion home values have risen by approximately27.2%, reflecting strong long-term appreciation in this market.
Price History
Lake Orion Home Price Trend
City Comparison
Lake Orion vs. National Median
At $424,774, homes in Lake Orion cost 4% above the national median of $410,000. Buyers in Lake Orion should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Lake Orion?
20% Down Payment
$84,955
on $424,774
Monthly P&I
$2,215/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,813/mo
incl. taxes & insurance
Income Needed
$112,520
gross annual (30% rule)
10% Down Option
$42,477
+ PMI applies
Loan Amount (20% dn)
$339,819
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 Orion, MI?
The median home value in Lake Orion is $424,774 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 3.8% year-over-year.
How much have home prices changed in Lake Orion?
Over the past year, home values in Lake Orion have increased by 3.8%. Over five years, prices have risen approximately 27.2%.
How much do I need to earn to buy a home in Lake Orion?
To comfortably afford the median home price of $424,774 with a 20% down payment ($84,955) at today's rates (6.8%), you'd need a gross annual income of approximately $112,520. This assumes keeping total housing costs at or below 30% of gross income.
How does Lake Orion compare to the national average home price?
The national median home value is approximately $410,000. At $424,774, homes in Lake Orion are 4% above the national average.
What metro area is Lake Orion part of?
Lake Orion is part of the Detroit-Warren-Dearborn, MI metropolitan area. Home prices and market conditions can vary across the broader metro region.