Market Overview
Home Prices in Mancelona, MI
The median home value in Mancelona, MI is $211,129 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 0.1% compared to a year ago and up 3.1% from two years prior.
Compared to the U.S. national median of $410,000, homes in Mancelona are priced49% below average. Mancelona is part of the Traverse City, MI metro area.
Over the past five years, Mancelona home values have risen by approximately28.2%, reflecting strong long-term appreciation in this market.
Price History
Mancelona Home Price Trend
City Comparison
Mancelona vs. National Median
At $211,129, homes in Mancelona cost 49% below the national median of $410,000. This makes Mancelona a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Mancelona?
20% Down Payment
$42,226
on $211,129
Monthly P&I
$1,101/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,398/mo
incl. taxes & insurance
Income Needed
$55,920
gross annual (30% rule)
10% Down Option
$21,113
+ PMI applies
Loan Amount (20% dn)
$168,903
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 Mancelona, MI?
The median home value in Mancelona is $211,129 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 0.1% year-over-year.
How much have home prices changed in Mancelona?
Over the past year, home values in Mancelona have increased by 0.1%. Over five years, prices have risen approximately 28.2%.
How much do I need to earn to buy a home in Mancelona?
To comfortably afford the median home price of $211,129 with a 20% down payment ($42,226) at today's rates (6.8%), you'd need a gross annual income of approximately $55,920. This assumes keeping total housing costs at or below 30% of gross income.
How does Mancelona compare to the national average home price?
The national median home value is approximately $410,000. At $211,129, homes in Mancelona are 49% below the national average.
What metro area is Mancelona part of?
Mancelona is part of the Traverse City, MI metropolitan area. Home prices and market conditions can vary across the broader metro region.