Market Overview
Home Prices in Skandia, MI
The median home value in Skandia, MI is $239,968 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 9.5% compared to a year ago and up 4.2% from two years prior.
Compared to the U.S. national median of $410,000, homes in Skandia are priced41% below average. Skandia is part of the Marquette, MI metro area.
Over the past five years, Skandia home values have risen by approximately32.5%, reflecting strong long-term appreciation in this market.
Price History
Skandia Home Price Trend
City Comparison
Skandia vs. National Median
At $239,968, homes in Skandia cost 41% below the national median of $410,000. This makes Skandia a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Skandia?
20% Down Payment
$47,994
on $239,968
Monthly P&I
$1,252/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,590/mo
incl. taxes & insurance
Income Needed
$63,600
gross annual (30% rule)
10% Down Option
$23,997
+ PMI applies
Loan Amount (20% dn)
$191,974
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 Skandia, MI?
The median home value in Skandia is $239,968 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 9.5% year-over-year.
How much have home prices changed in Skandia?
Over the past year, home values in Skandia have increased by 9.5%. Over five years, prices have risen approximately 32.5%.
How much do I need to earn to buy a home in Skandia?
To comfortably afford the median home price of $239,968 with a 20% down payment ($47,994) at today's rates (6.8%), you'd need a gross annual income of approximately $63,600. This assumes keeping total housing costs at or below 30% of gross income.
How does Skandia compare to the national average home price?
The national median home value is approximately $410,000. At $239,968, homes in Skandia are 41% below the national average.
What metro area is Skandia part of?
Skandia is part of the Marquette, MI metropolitan area. Home prices and market conditions can vary across the broader metro region.