Market Overview
Home Prices in Ontonagon, MI
The median home value in Ontonagon, MI is $139,535 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 9.9% compared to a year ago and down 4.6% from two years prior.
Compared to the U.S. national median of $410,000, homes in Ontonagon are priced66% below average.
Over the past five years, Ontonagon home values have risen by approximately27.3%, reflecting strong long-term appreciation in this market.
Price History
Ontonagon Home Price Trend
2020
$93,445
$93K
—
2021
$109,589
$110K
+17.3%
2022
$141,114
$141K
+28.8%
2023
$140,479
$140K
-0.4%
2024
$133,032
$133K
-5.3%
2025
$126,968
$127K
-4.6%
2026
$139,535
$140K
+9.9%
City Comparison
Ontonagon vs. National Median
🏠 Ontonagon
$139,535
National Median
$410,000
At $139,535, homes in Ontonagon cost 66% below the national median of $410,000. This makes Ontonagon a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Ontonagon?
20% Down Payment
$27,907
on $139,535
Monthly P&I
$728/mo
30-yr @ 6.8%
Total Monthly Est.
~$925/mo
incl. taxes & insurance
Income Needed
$37,000
gross annual (30% rule)
10% Down Option
$13,954
+ PMI applies
Loan Amount (20% dn)
$111,628
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 Ontonagon, MI?
The median home value in Ontonagon is $139,535 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 9.9% year-over-year.
How much have home prices changed in Ontonagon?
Over the past year, home values in Ontonagon have increased by 9.9%. Over five years, prices have risen approximately 27.3%.
How much do I need to earn to buy a home in Ontonagon?
To comfortably afford the median home price of $139,535 with a 20% down payment ($27,907) at today's rates (6.8%), you'd need a gross annual income of approximately $37,000. This assumes keeping total housing costs at or below 30% of gross income.
How does Ontonagon compare to the national average home price?
The national median home value is approximately $410,000. At $139,535, homes in Ontonagon are 66% below the national average.