Market Overview
Home Prices in Paradise, MI
The median home value in Paradise, MI is $199,019 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 5% compared to a year ago and up 1.1% from two years prior.
Compared to the U.S. national median of $410,000, homes in Paradise are priced51% below average. Paradise is part of the Sault Ste. Marie, MI metro area.
Over the past five years, Paradise home values have risen by approximately22.5%, reflecting strong long-term appreciation in this market.
Price History
Paradise Home Price Trend
City Comparison
Paradise vs. National Median
At $199,019, homes in Paradise cost 51% below the national median of $410,000. This makes Paradise a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Paradise?
20% Down Payment
$39,804
on $199,019
Monthly P&I
$1,038/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,318/mo
incl. taxes & insurance
Income Needed
$52,720
gross annual (30% rule)
10% Down Option
$19,902
+ PMI applies
Loan Amount (20% dn)
$159,215
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 Paradise, MI?
The median home value in Paradise is $199,019 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 5% year-over-year.
How much have home prices changed in Paradise?
Over the past year, home values in Paradise have increased by 5%. Over five years, prices have risen approximately 22.5%.
How much do I need to earn to buy a home in Paradise?
To comfortably afford the median home price of $199,019 with a 20% down payment ($39,804) at today's rates (6.8%), you'd need a gross annual income of approximately $52,720. This assumes keeping total housing costs at or below 30% of gross income.
How does Paradise compare to the national average home price?
The national median home value is approximately $410,000. At $199,019, homes in Paradise are 51% below the national average.
What metro area is Paradise part of?
Paradise is part of the Sault Ste. Marie, MI metropolitan area. Home prices and market conditions can vary across the broader metro region.