Market Overview
Home Prices in Schoolcraft, MI
The median home value in Schoolcraft, MI is $359,172 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 3.5% compared to a year ago and up 2.6% from two years prior.
Compared to the U.S. national median of $410,000, homes in Schoolcraft are priced12% below average. Schoolcraft is part of the Kalamazoo-Portage, MI metro area.
Over the past five years, Schoolcraft home values have risen by approximately29.3%, reflecting strong long-term appreciation in this market.
Price History
Schoolcraft Home Price Trend
City Comparison
Schoolcraft vs. National Median
At $359,172, homes in Schoolcraft cost 12% below the national median of $410,000. This makes Schoolcraft a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Schoolcraft?
20% Down Payment
$71,834
on $359,172
Monthly P&I
$1,873/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,379/mo
incl. taxes & insurance
Income Needed
$95,160
gross annual (30% rule)
10% Down Option
$35,917
+ PMI applies
Loan Amount (20% dn)
$287,338
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 Schoolcraft, MI?
The median home value in Schoolcraft is $359,172 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 3.5% year-over-year.
How much have home prices changed in Schoolcraft?
Over the past year, home values in Schoolcraft have increased by 3.5%. Over five years, prices have risen approximately 29.3%.
How much do I need to earn to buy a home in Schoolcraft?
To comfortably afford the median home price of $359,172 with a 20% down payment ($71,834) at today's rates (6.8%), you'd need a gross annual income of approximately $95,160. This assumes keeping total housing costs at or below 30% of gross income.
How does Schoolcraft compare to the national average home price?
The national median home value is approximately $410,000. At $359,172, homes in Schoolcraft are 12% below the national average.
What metro area is Schoolcraft part of?
Schoolcraft is part of the Kalamazoo-Portage, MI metropolitan area. Home prices and market conditions can vary across the broader metro region.