Market Overview
Home Prices in Palms, MI
The median home value in Palms, MI is $239,846 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 1.6% compared to a year ago and down 6.1% from two years prior.
Compared to the U.S. national median of $410,000, homes in Palms are priced42% below average.
Price History
Palms Home Price Trend
2022
$270,263
$270K
—
2023
$268,981
$269K
-0.5%
2024
$251,453
$251K
-6.5%
2025
$236,167
$236K
-6.1%
2026
$239,846
$240K
+1.6%
City Comparison
Palms vs. National Median
🏠 Palms
$239,846
National Median
$410,000
At $239,846, homes in Palms cost 42% below the national median of $410,000. This makes Palms a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Palms?
20% Down Payment
$47,969
on $239,846
Monthly P&I
$1,251/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,589/mo
incl. taxes & insurance
Income Needed
$63,560
gross annual (30% rule)
10% Down Option
$23,985
+ PMI applies
Loan Amount (20% dn)
$191,877
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 Palms, MI?
The median home value in Palms is $239,846 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 1.6% year-over-year.
How much have home prices changed in Palms?
Over the past year, home values in Palms have increased by 1.6%.
How much do I need to earn to buy a home in Palms?
To comfortably afford the median home price of $239,846 with a 20% down payment ($47,969) at today's rates (6.8%), you'd need a gross annual income of approximately $63,560. This assumes keeping total housing costs at or below 30% of gross income.
How does Palms compare to the national average home price?
The national median home value is approximately $410,000. At $239,846, homes in Palms are 42% below the national average.