House Prices

House Prices & Home Values Wakefield, MI 2026


Average Data

average house price$129,875
average size per house1175 ft²
average price per ft²111 $ / ft²

04/22/2026 - The value range (VR) for house prices in Wakefield, MI is $136/ sqft to $136/ sqft. An average home with 1175 sqft costs approximately $159,800 to $159,800. Wakefield, MI includes 1 ZIP codes and it is located in Gogebic county. The lowest prices are found in ZIP 49968, while the highest are in ZIP 49968. The average price per sqare feet is $111. Our analysis is based on 4 property listings.

Avergage prices by ZIP codes Wakefield

49968126 $ / ft²




Historical development of home values in Wakefield

Year Estimated value (USD) Change vs. 2025
2010 $60,316 -53.6%
2011 $57,984 -55.4%
2012 $57,828 -55.5%
2013 $59,989 -53.8%
2014 $62,972 -51.5%
2015 $66,204 -49.0%
2016 $69,659 -46.4%
2017 $73,419 -43.5%
2018 $77,478 -40.3%
2019 $81,070 -37.6%
2020 $85,261 -34.4%
2021 $96,976 -25.3%
2022 $113,052 -13.0%
2023 $119,218 -8.2%
2024 $126,115 -2.9%
2025 $129,875 0.0%

Graph: estimated home values in Wakefield over time (USD)



Example: 100% financing house in Wakefield

Loan amount: $129,875

Interest rate: 6.00%

Fixed monthly payment: $778.67

Breakdown in the 1st month:
Interest portion: $649.38  –  Principal portion: $129.29

Yearly breakdown (100% financing)

Year Interest per year ($) Principal per year ($) Remaining balance at year-end ($)
1 $7,749.11 $1,594.88 $128,280.12
2 $7,650.75 $1,693.25 $126,586.87
3 $7,546.31 $1,797.68 $124,789.19
4 $7,435.43 $1,908.56 $122,880.62
5 $7,317.72 $2,026.28 $120,854.35
6 $7,192.74 $2,151.25 $118,703.09
7 $7,060.06 $2,283.94 $116,419.15
8 $6,919.19 $2,424.81 $113,994.34
9 $6,769.63 $2,574.36 $111,419.98
10 $6,610.85 $2,733.15 $108,686.84
11 $6,442.28 $2,901.72 $105,785.12
12 $6,263.30 $3,080.69 $102,704.42
13 $6,073.29 $3,270.70 $99,433.72
14 $5,871.56 $3,472.43 $95,961.29
15 $5,657.39 $3,686.60 $92,274.69
16 $5,430.01 $3,913.99 $88,360.70
17 $5,188.60 $4,155.39 $84,205.31
18 $4,932.31 $4,411.69 $79,793.62
19 $4,660.21 $4,683.79 $75,109.83
20 $4,371.32 $4,972.68 $70,137.16
21 $4,064.62 $5,279.38 $64,857.78
22 $3,738.99 $5,605.00 $59,252.78
23 $3,393.29 $5,950.70 $53,302.07
24 $3,026.26 $6,317.73 $46,984.34
25 $2,636.60 $6,707.39 $40,276.95
26 $2,222.90 $7,121.09 $33,155.86
27 $1,783.69 $7,560.31 $25,595.55
28 $1,317.39 $8,026.61 $17,568.94
29 $822.32 $8,521.67 $9,047.27
30 $296.72 $9,047.27 $0.00

Note: The calculation is based on a standard annuity mortgage with a fixed monthly payment over the entire term. Extra payments, interest rate changes, and additional purchase costs (e.g. taxes, notary fees) are not included.


How to sell in Wakefield, MI


1500 sqft3900 sqft
Ø selling price$201,466$428,572
Ø fast selling$183,151$385,714
Ø high price sale$219,781$471,429

In 2026, houses in Wakefield, MI will be offered at an average price of $111 per square foot. A 1,500 sqft home priced at $201,466 is 21.28% more expensive per square foot than a 3,900 sqft home priced at $428,572. Home prices in Wakefield, MI vary significantly depending on the neighborhood and location. For a quick sale, a 2,700 sqft home should be listed at around $296,703. Sellers who can wait longer may achieve a higher price of up to $362,638.


Discover Wakefield, MI

Nestled in Michigan?s western Upper Peninsula, Wakefield, MI is a gateway to year-round adventure and small-town charm. This welcoming community in Gogebic County sits along scenic US-2, making it an easy stop for road trippers exploring the Northwoods. Downtown features locally owned shops, cozy eateries, and friendly lodging that create a relaxed base for exploring the region.

Outdoor Recreation and Nature

At the heart of town, Sunday Lake offers fishing, paddling, and sunset strolls at Eddy Park with picturesque views.
Hikers and wildlife lovers can reach the vast Ottawa National Forest and the rugged Porcupine Mountains in a short, scenic drive. Winter brings deep lake-effect snow ideal for snowmobiling and skiing at nearby resorts and trail networks.

Community, History, and Travel Tips

Historically tied to the Gogebic Iron Range, Wakefield preserves its heritage through local landmarks and community events. Families appreciate four-season recreation, from leaf-peeping and waterfall tours to cross-country trails and ice fishing. Travelers will find practical amenities, including fuel, groceries, trailheads, and lake access, all within minutes of downtown. Whether you?re planning a weekend getaway or a longer stay, Wakefield, MI delivers authentic Upper Peninsula experiences, affordable accommodations, and memorable outdoor adventures.



FAQ – Home Values in Wakefield

What is the median home value in Wakefield in 2026?

In 2026, the typical home value in Wakefield is about $129,875 for an average home size of 1175 square feet. This corresponds to an average price of roughly $111 per square foot.

What is the average cost per square foot in Wakefield?

In 2026, homes in Wakefield sell for an average of around $111 per square foot, with a typical range between $136 and $136 per square foot, depending on the property’s location, condition, and lot size.

What is the average home size in ?

The average home size in Wakefield is about 1175 square feet, with an estimated 2026 value around $129,875.



Locations close to Wakefield, MI

Watersmeet, MI311 $ / ft²
Watton, MI138 $ / ft²
White Pine, MI214 $ / ft²
Trout Creek, MI81 $ / ft²
Toivola, MI95 $ / ft²
South Range, MI53 $ / ft²
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