Market Overview
Home Prices in Laurium, MI
The median home value in Laurium, MI is $132,058 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 4.9% compared to a year ago and up 10.7% from two years prior.
Compared to the U.S. national median of $410,000, homes in Laurium are priced68% below average. Laurium is part of the Houghton, MI metro area.
Over the past five years, Laurium home values have risen by approximately52.1%, reflecting strong long-term appreciation in this market.
Price History
Laurium Home Price Trend
City Comparison
Laurium vs. National Median
At $132,058, homes in Laurium cost 68% below the national median of $410,000. This makes Laurium a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Laurium?
20% Down Payment
$26,412
on $132,058
Monthly P&I
$689/mo
30-yr @ 6.8%
Total Monthly Est.
~$875/mo
incl. taxes & insurance
Income Needed
$35,000
gross annual (30% rule)
10% Down Option
$13,206
+ PMI applies
Loan Amount (20% dn)
$105,646
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 Laurium, MI?
The median home value in Laurium is $132,058 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 4.9% year-over-year.
How much have home prices changed in Laurium?
Over the past year, home values in Laurium have increased by 4.9%. Over five years, prices have risen approximately 52.1%.
How much do I need to earn to buy a home in Laurium?
To comfortably afford the median home price of $132,058 with a 20% down payment ($26,412) at today's rates (6.8%), you'd need a gross annual income of approximately $35,000. This assumes keeping total housing costs at or below 30% of gross income.
How does Laurium compare to the national average home price?
The national median home value is approximately $410,000. At $132,058, homes in Laurium are 68% below the national average.
What metro area is Laurium part of?
Laurium is part of the Houghton, MI metropolitan area. Home prices and market conditions can vary across the broader metro region.