Market Overview
Home Prices in Ossineke, MI
The median home value in Ossineke, MI is $201,398 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 6% compared to a year ago and up 5.9% from two years prior.
Compared to the U.S. national median of $410,000, homes in Ossineke are priced51% below average. Ossineke is part of the Alpena, MI metro area.
Over the past five years, Ossineke home values have risen by approximately40.0%, reflecting strong long-term appreciation in this market.
Price History
Ossineke Home Price Trend
City Comparison
Ossineke vs. National Median
At $201,398, homes in Ossineke cost 51% below the national median of $410,000. This makes Ossineke a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Ossineke?
20% Down Payment
$40,280
on $201,398
Monthly P&I
$1,050/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,334/mo
incl. taxes & insurance
Income Needed
$53,360
gross annual (30% rule)
10% Down Option
$20,140
+ PMI applies
Loan Amount (20% dn)
$161,118
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 Ossineke, MI?
The median home value in Ossineke is $201,398 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 6% year-over-year.
How much have home prices changed in Ossineke?
Over the past year, home values in Ossineke have increased by 6%. Over five years, prices have risen approximately 40.0%.
How much do I need to earn to buy a home in Ossineke?
To comfortably afford the median home price of $201,398 with a 20% down payment ($40,280) at today's rates (6.8%), you'd need a gross annual income of approximately $53,360. This assumes keeping total housing costs at or below 30% of gross income.
How does Ossineke compare to the national average home price?
The national median home value is approximately $410,000. At $201,398, homes in Ossineke are 51% below the national average.
What metro area is Ossineke part of?
Ossineke is part of the Alpena, MI metropolitan area. Home prices and market conditions can vary across the broader metro region.