Market Overview
Home Prices in Ottawa Lake, MI
The median home value in Ottawa Lake, MI is $343,060 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 7.8% compared to a year ago and up 4.1% from two years prior.
Compared to the U.S. national median of $410,000, homes in Ottawa Lake are priced16% below average. Ottawa Lake is part of the Monroe, MI metro area.
Over the past five years, Ottawa Lake home values have risen by approximately32.6%, reflecting strong long-term appreciation in this market.
Price History
Ottawa Lake Home Price Trend
City Comparison
Ottawa Lake vs. National Median
At $343,060, homes in Ottawa Lake cost 16% below the national median of $410,000. This makes Ottawa Lake a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Ottawa Lake?
20% Down Payment
$68,612
on $343,060
Monthly P&I
$1,789/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,272/mo
incl. taxes & insurance
Income Needed
$90,880
gross annual (30% rule)
10% Down Option
$34,306
+ PMI applies
Loan Amount (20% dn)
$274,448
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 Ottawa Lake, MI?
The median home value in Ottawa Lake is $343,060 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 7.8% year-over-year.
How much have home prices changed in Ottawa Lake?
Over the past year, home values in Ottawa Lake have increased by 7.8%. Over five years, prices have risen approximately 32.6%.
How much do I need to earn to buy a home in Ottawa Lake?
To comfortably afford the median home price of $343,060 with a 20% down payment ($68,612) at today's rates (6.8%), you'd need a gross annual income of approximately $90,880. This assumes keeping total housing costs at or below 30% of gross income.
How does Ottawa Lake compare to the national average home price?
The national median home value is approximately $410,000. At $343,060, homes in Ottawa Lake are 16% below the national average.
What metro area is Ottawa Lake part of?
Ottawa Lake is part of the Monroe, MI metropolitan area. Home prices and market conditions can vary across the broader metro region.