Market Overview
Home Prices in Munising, MI
The median home value in Munising, MI is $208,795 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 4.9% compared to a year ago and down 2.1% from two years prior.
Compared to the U.S. national median of $410,000, homes in Munising are priced49% below average.
Over the past five years, Munising home values have risen by approximately9.9%, reflecting steady appreciation in this market.
Price History
Munising Home Price Trend
2020
$163,628
$164K
—
2021
$189,946
$190K
+16.1%
2022
$202,568
$203K
+6.6%
2023
$209,463
$209K
+3.4%
2024
$203,177
$203K
-3.0%
2025
$198,969
$199K
-2.1%
2026
$208,795
$209K
+4.9%
City Comparison
Munising vs. National Median
🏠 Munising
$208,795
National Median
$410,000
At $208,795, homes in Munising cost 49% below the national median of $410,000. This makes Munising a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Munising?
20% Down Payment
$41,759
on $208,795
Monthly P&I
$1,089/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,383/mo
incl. taxes & insurance
Income Needed
$55,320
gross annual (30% rule)
10% Down Option
$20,880
+ PMI applies
Loan Amount (20% dn)
$167,036
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 Munising, MI?
The median home value in Munising is $208,795 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 Munising?
Over the past year, home values in Munising have increased by 4.9%. Over five years, prices have risen approximately 9.9%.
How much do I need to earn to buy a home in Munising?
To comfortably afford the median home price of $208,795 with a 20% down payment ($41,759) at today's rates (6.8%), you'd need a gross annual income of approximately $55,320. This assumes keeping total housing costs at or below 30% of gross income.
How does Munising compare to the national average home price?
The national median home value is approximately $410,000. At $208,795, homes in Munising are 49% below the national average.