Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$406,697+6.8% YoY · prices are rising fast
Market right nowBalanced marketMore homes for sale than last year, 19% have cut their price
Income needed to buy, per year$88,163About 1.2× the local median income ($76,215): a stretch for a typical household
Days on market60 daysFaster than a year ago: sellers have the edge
Next 12 months+3.6%Zillow expects prices to rise slightly
The typical home in Benzie County, MI is worth $406,697, up 6.8% from a year ago. That is well above what local incomes have historically supported: fair value is about $355,408, so the area is 14.4% overvalued. It is a balanced market: homes take about 60 days to sell, listings are up 12% from a year ago, 19% of listings have had a price cut. Zillow expects prices to rise about 3.6% over the next year. A household needs about $88,163 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $76,215. Typical rent is $1,575 a month, or $1,907 for a house. In the latest IRS figures, 270 more people moved in than out.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$406,697
Change in 1 year
+6.8%
Overvalued %
+14.4%
Show 7 more
Fair home value
$355,408
Change in 5 years
+30.8%
Zillow forecast, next 12 months
+3.6%
Home value to income
5.3×
Monthly mortgage payment (20% down)
$2,204
Income needed to afford it
$88,163
Property tax rate
0.79%
Rent and investing
Typical rent
$1,575
Typical rent for houses
$1,907
Price-to-rent ratio
21.5×
Show 3 more
HUD Fair Market Rent, 2 bedrooms
$1,234
Gross rental yield
4.65%
Cap rate (estimate)
3.02%
Market activity
Listings vs a year ago
+11.5%
Days on market
60
Listings with a price cut
18.9%
Show 3 more
Homes for sale
107
Pending sales per 100 listings
38
Asking price per sq ft
$320
People and jobs
Median household income
$76,215
Population change (1 year)
+0.4%
Unemployment rate
3.1%
Show 4 more
Population
18,568
Income adjusted for cost of living
$81,601
Net moves in (IRS)
+270
Cost of living (US = 100)
93.4
Schools, risk and environment
School rating (1 to 10)
6.5
FEMA hazard risk score (0 to 100)
22.7
Unhealthy air days a year
0
Show 4 more
Flood risk score
37.2
Wildfire risk score
12.1
Walkability (1 to 20)
6.1
Road, rail and air noise
54 dB
Questions people ask
Is Benzie County, MI overvalued?
Home prices in Benzie County, MI are well above what local incomes have historically supported: fair value is about $355,408, so the area is 14.4% overvalued.
Is Benzie County, MI a buyer's or seller's market?
Benzie County, MI is a balanced market: homes take about 60 days to sell, listings are up 12% from a year ago, 19% of listings have had a price cut.
Are home prices going down in Benzie County, MI?
Home values in Benzie County, MI are up 6.8% over the last year. Zillow's forecast for the next 12 months is +3.6%.
How much do you need to earn to buy a home in Benzie County, MI?
A household needs about $88,163 a year to afford the typical home in Benzie County, MI at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $76,215.