Market Overview
Home Prices in Pellston, MI
The median home value in Pellston, MI is $244,679 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 7.7% compared to a year ago and up 1.9% from two years prior.
Compared to the U.S. national median of $410,000, homes in Pellston are priced40% below average.
Over the past five years, Pellston home values have risen by approximately24.5%, reflecting strong long-term appreciation in this market.
Price History
Pellston Home Price Trend
2020
$161,792
$162K
—
2021
$196,603
$197K
+21.5%
2022
$226,611
$227K
+15.3%
2023
$216,946
$217K
-4.3%
2024
$222,878
$223K
+2.7%
2025
$227,200
$227K
+1.9%
2026
$244,679
$245K
+7.7%
City Comparison
Pellston vs. National Median
🏠 Pellston
$244,679
National Median
$410,000
At $244,679, homes in Pellston cost 40% below the national median of $410,000. This makes Pellston a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Pellston?
20% Down Payment
$48,936
on $244,679
Monthly P&I
$1,276/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,621/mo
incl. taxes & insurance
Income Needed
$64,840
gross annual (30% rule)
10% Down Option
$24,468
+ PMI applies
Loan Amount (20% dn)
$195,743
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 Pellston, MI?
The median home value in Pellston is $244,679 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 7.7% year-over-year.
How much have home prices changed in Pellston?
Over the past year, home values in Pellston have increased by 7.7%. Over five years, prices have risen approximately 24.5%.
How much do I need to earn to buy a home in Pellston?
To comfortably afford the median home price of $244,679 with a 20% down payment ($48,936) at today's rates (6.8%), you'd need a gross annual income of approximately $64,840. This assumes keeping total housing costs at or below 30% of gross income.
How does Pellston compare to the national average home price?
The national median home value is approximately $410,000. At $244,679, homes in Pellston are 40% below the national average.