Market Overview
Home Prices in Luna Pier, MI
The median home value in Luna Pier, MI is $195,089 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 13.6% compared to a year ago and up 6% from two years prior.
Compared to the U.S. national median of $410,000, homes in Luna Pier are priced52% below average. Luna Pier is part of the Monroe, MI metro area.
Over the past five years, Luna Pier home values have risen by approximately44.6%, reflecting strong long-term appreciation in this market.
Price History
Luna Pier Home Price Trend
City Comparison
Luna Pier vs. National Median
At $195,089, homes in Luna Pier cost 52% below the national median of $410,000. This makes Luna Pier a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Luna Pier?
20% Down Payment
$39,018
on $195,089
Monthly P&I
$1,017/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,292/mo
incl. taxes & insurance
Income Needed
$51,680
gross annual (30% rule)
10% Down Option
$19,509
+ PMI applies
Loan Amount (20% dn)
$156,071
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 Luna Pier, MI?
The median home value in Luna Pier is $195,089 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 13.6% year-over-year.
How much have home prices changed in Luna Pier?
Over the past year, home values in Luna Pier have increased by 13.6%. Over five years, prices have risen approximately 44.6%.
How much do I need to earn to buy a home in Luna Pier?
To comfortably afford the median home price of $195,089 with a 20% down payment ($39,018) at today's rates (6.8%), you'd need a gross annual income of approximately $51,680. This assumes keeping total housing costs at or below 30% of gross income.
How does Luna Pier compare to the national average home price?
The national median home value is approximately $410,000. At $195,089, homes in Luna Pier are 52% below the national average.
What metro area is Luna Pier part of?
Luna Pier is part of the Monroe, MI metropolitan area. Home prices and market conditions can vary across the broader metro region.