What Does $500,000 Get You in Northern Michigan Real Estate?

April 28, 2025

In the world of real estate, $500,000 used to buy you a mansion. Today, that big chunk of change can mean very different things depending on where you’re looking—especially in northern Michigan. In some areas, that price might get you a newer home with acreage, maybe even water access. In others, it might mean an older, modest house in a prime location.

To get a sense of what half a million dollars buys right now, this week's Northern Express - sister publication of The Ticker - highlights listings across several counties in the region. Staff focused on homes priced around $500,000, giving a snapshot of what’s available at that price point—from the woods of Otsego County to the heart of downtown Traverse City.

The Northern Express is available to read online, or pick up a free copy on newsstands at more than 650 locations in 13 counties across northern Michigan.