Market Overview
Home Prices in Prescott, MI
The median home value in Prescott, MI is $114,345 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 4.4% compared to a year ago and up 1.5% from two years prior.
Compared to the U.S. national median of $410,000, homes in Prescott are priced72% below average.
Over the past five years, Prescott home values have risen by approximately7.6%, reflecting steady appreciation in this market.
Price History
Prescott Home Price Trend
2020
$88,395
$88K
—
2021
$106,302
$106K
+20.3%
2022
$112,421
$112K
+5.8%
2023
$108,894
$109K
-3.1%
2024
$107,828
$108K
-1.0%
2025
$109,480
$109K
+1.5%
2026
$114,345
$114K
+4.4%
City Comparison
Prescott vs. National Median
🏠 Prescott
$114,345
National Median
$410,000
At $114,345, homes in Prescott cost 72% below the national median of $410,000. This makes Prescott a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Prescott?
20% Down Payment
$22,869
on $114,345
Monthly P&I
$596/mo
30-yr @ 6.8%
Total Monthly Est.
~$757/mo
incl. taxes & insurance
Income Needed
$30,280
gross annual (30% rule)
10% Down Option
$11,435
+ PMI applies
Loan Amount (20% dn)
$91,476
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 Prescott, MI?
The median home value in Prescott is $114,345 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 4.4% year-over-year.
How much have home prices changed in Prescott?
Over the past year, home values in Prescott have increased by 4.4%. Over five years, prices have risen approximately 7.6%.
How much do I need to earn to buy a home in Prescott?
To comfortably afford the median home price of $114,345 with a 20% down payment ($22,869) at today's rates (6.8%), you'd need a gross annual income of approximately $30,280. This assumes keeping total housing costs at or below 30% of gross income.
How does Prescott compare to the national average home price?
The national median home value is approximately $410,000. At $114,345, homes in Prescott are 72% below the national average.