How much does it cost to buy a house in Lima, MI?

In May 2026 Lima homes were listed to buy for a median price of $519K, which is same as April 2025 last month, and same as May 2025 last year. The median value of a home listed to buy in Lima in May 2026 was $214 per sqft, which is a 1% decrease to April 2025 last month, and a 1% decrease to May 2025 last year.

Is it affordable or expensive to live in Lima, MI?

It is expensive to live in Lima. Buying a home in Lima is 1% more expensive compared with the national average.

Is it a good time to buy property in Lima, MI?

Yes now is a good time to buy property in Lima, in May 2026, homes in Lima have decreased in value (price per sqft) by 1% in the last year compared with May 2025.

Are home prices dropping in Lima, MI?

Home price are dropping in Lima, in May 2026, homes to buy in Lima have decreased in median list price by 1% compared with April 2026, one month ago.

Is the Lima, MI housing market slowing down?

In May 2026, homes to buy in Lima spent an median 20 days on the market, a same May 2025 last year.

What are the best and safest places to live in Lima, MI?

The best and safest neighborhoods to live in Lima in May 2026 are North Burns Park, Earhart Village, Downtown South Lyon, Lower Burns Park, Cherry Hill Estates, Chalmers, North Central, Wildwood Park, Downtown Ann Arbor, Newport West Condominiums, Foxfire Condominiums, Coventry Gardens, Downtown Milford, Geddes Lake Condominiums, Dearborn Hills, Platt Road, River House Condominiums, Chapel Hill Condominiums, Devon Aire, Colonial Square

How much money should I make to buy a house in Lima, MI?

In May 2026, Lima homes were listed to buy for a median price of $519K, with 25% down you would need $3.25K/month to cover expenses and assume that's 35% of your total monthly income, your total yearly income would need to be $111K.

Is it a good time to sell my house in Lima, MI?

Yes now is a good time to sell your house in Lima, in May 2026, homes in Lima have decreased in value (price per sqft) by 1% in the last year compared with May 2025.