Market Overview
Home Prices in Ovid, MI
The median home value in Ovid, MI is $196,358 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 3.6% compared to a year ago and up 0.8% from two years prior.
Compared to the U.S. national median of $410,000, homes in Ovid are priced52% below average. Ovid is part of the Lansing-East Lansing, MI metro area.
Over the past five years, Ovid home values have risen by approximately17.7%, reflecting steady appreciation in this market.
Price History
Ovid Home Price Trend
2020
$144,835
$145K
—
2021
$166,793
$167K
+15.2%
2022
$179,137
$179K
+7.4%
2023
$175,490
$175K
-2.0%
2024
$188,093
$188K
+7.2%
2025
$189,584
$190K
+0.8%
2026
$196,358
$196K
+3.6%
City Comparison
Ovid vs. National Median
🏠 Ovid
$196,358
National Median
$410,000
At $196,358, homes in Ovid cost 52% below the national median of $410,000. This makes Ovid a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Ovid?
20% Down Payment
$39,272
on $196,358
Monthly P&I
$1,024/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,300/mo
incl. taxes & insurance
Income Needed
$52,000
gross annual (30% rule)
10% Down Option
$19,636
+ PMI applies
Loan Amount (20% dn)
$157,086
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 Ovid, MI?
The median home value in Ovid is $196,358 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 3.6% year-over-year.
How much have home prices changed in Ovid?
Over the past year, home values in Ovid have increased by 3.6%. Over five years, prices have risen approximately 17.7%.
How much do I need to earn to buy a home in Ovid?
To comfortably afford the median home price of $196,358 with a 20% down payment ($39,272) at today's rates (6.8%), you'd need a gross annual income of approximately $52,000. This assumes keeping total housing costs at or below 30% of gross income.
How does Ovid compare to the national average home price?
The national median home value is approximately $410,000. At $196,358, homes in Ovid are 52% below the national average.
What metro area is Ovid part of?
Ovid is part of the Lansing-East Lansing, MI metropolitan area. Home prices and market conditions can vary across the broader metro region.