Market Overview
Home Prices in Lathrup Village, MI
The median home value in Lathrup Village, MI is $338,350 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 1.4% compared to a year ago and up 3.3% from two years prior.
Compared to the U.S. national median of $410,000, homes in Lathrup Village are priced17% below average. Lathrup Village is part of the Detroit-Warren-Dearborn, MI metro area.
Over the past five years, Lathrup Village home values have risen by approximately19.6%, reflecting steady appreciation in this market.
Price History
Lathrup Village Home Price Trend
City Comparison
Lathrup Village vs. National Median
At $338,350, homes in Lathrup Village cost 17% below the national median of $410,000. This makes Lathrup Village a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Lathrup Village?
20% Down Payment
$67,670
on $338,350
Monthly P&I
$1,765/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,242/mo
incl. taxes & insurance
Income Needed
$89,680
gross annual (30% rule)
10% Down Option
$33,835
+ PMI applies
Loan Amount (20% dn)
$270,680
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 Lathrup Village, MI?
The median home value in Lathrup Village is $338,350 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 1.4% year-over-year.
How much have home prices changed in Lathrup Village?
Over the past year, home values in Lathrup Village have increased by 1.4%. Over five years, prices have risen approximately 19.6%.
How much do I need to earn to buy a home in Lathrup Village?
To comfortably afford the median home price of $338,350 with a 20% down payment ($67,670) at today's rates (6.8%), you'd need a gross annual income of approximately $89,680. This assumes keeping total housing costs at or below 30% of gross income.
How does Lathrup Village compare to the national average home price?
The national median home value is approximately $410,000. At $338,350, homes in Lathrup Village are 17% below the national average.
What metro area is Lathrup Village part of?
Lathrup Village is part of the Detroit-Warren-Dearborn, MI metropolitan area. Home prices and market conditions can vary across the broader metro region.