Market Overview
Home Prices in Stephenson, MI
The median home value in Stephenson, MI is $196,817 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 8.2% compared to a year ago and up 8.6% from two years prior.
Compared to the U.S. national median of $410,000, homes in Stephenson are priced52% below average. Stephenson is part of the Marinette, WI-MI metro area.
Over the past five years, Stephenson home values have risen by approximately29.2%, reflecting strong long-term appreciation in this market.
Price History
Stephenson Home Price Trend
City Comparison
Stephenson vs. National Median
At $196,817, homes in Stephenson cost 52% below the national median of $410,000. This makes Stephenson a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Stephenson?
20% Down Payment
$39,363
on $196,817
Monthly P&I
$1,026/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,303/mo
incl. taxes & insurance
Income Needed
$52,120
gross annual (30% rule)
10% Down Option
$19,682
+ PMI applies
Loan Amount (20% dn)
$157,454
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 Stephenson, MI?
The median home value in Stephenson is $196,817 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 8.2% year-over-year.
How much have home prices changed in Stephenson?
Over the past year, home values in Stephenson have increased by 8.2%. Over five years, prices have risen approximately 29.2%.
How much do I need to earn to buy a home in Stephenson?
To comfortably afford the median home price of $196,817 with a 20% down payment ($39,363) at today's rates (6.8%), you'd need a gross annual income of approximately $52,120. This assumes keeping total housing costs at or below 30% of gross income.
How does Stephenson compare to the national average home price?
The national median home value is approximately $410,000. At $196,817, homes in Stephenson are 52% below the national average.
What metro area is Stephenson part of?
Stephenson is part of the Marinette, WI-MI metropolitan area. Home prices and market conditions can vary across the broader metro region.