Alger County, Michigan Housing Market Prices
Alger County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 25% above the Michigan median$173,436
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Median rent 37% below the Michigan median Cheaper than 84% of counties in Michigan$714
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Alger County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $173,436 | $138,713 | $248,835 |
| Price Trend (Annual %) | 11.3% | 8.6% | 7.5% |
| Median Gross Rent | $714 | $1,129 | $1,407 |
| Rent Trend (Annual %) | 2.1% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Alger County is about 25% higher than in Michigan. Rent is about 37% lower than the Michigan average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Alger County, up about 11.3% and 2.1% a year respectively. Home prices are changing faster.
Median rent in Alger County rose about 20.1% between 2015 and 2024, from $594 to $714. Over the same span, rent in Michigan rose about 44.2%.
Affordability
On average, housing unit costs 2.8 yearly household incomes in Alger County.
Buying the median-priced home in Alger County costs roughly 20.2 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Alger County. The price-to-rent ratio in Michigan is about 10.2.
| Metric | Alger County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $173,436 | $138,713 | $248,835 |
| Median Household Income | $62,450 | $72,977 | $80,455 |
| Price-to-Income Ratio | 2.8 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Alger County rose about 77.0%, while median household income rose about 38.6% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Alger County | Michigan Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 49.0% | 64.6% | 58.5% |
| Rental Rate | 7.8% | 23.6% | 31.2% |
| Vacancy Rate | 43.2% | 11.8% | 10.2% |
| Median Tenure (years) | 18.0 | 16.0 | 15.0 |
| Median Year Moved In | 2008 | 2010 | 2011 |
Alger County has a homeownership rate of 49.0%, lower than the Michigan average of 64.6%. Its housing vacancy rate is 43.2%, compared with 11.8% in Michigan.
Housing Stock
| Metric | Alger County | Michigan Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.19 people | 2.42 people | 2.53 people |
| Median Structure Built Year | 1971 | 1972 | 1978 |
| Median Number of Rooms | 5.4 | 5.9 | 5.5 |
The typical housing unit in Alger County was built around 1971. On average, 2.2 people live in a home with about 5.4 rooms, staying for about 18.0 years on average.
Alger County, MI Housing Compared With Nearby Counties
Alger County, MI is the smallest of the 4 counties compared here, 8,761 residents against a local median of 36,813. There is no headline here. Every measure below sits within 15% of the median across the nearest counties, which makes Alger County, MI an unremarkable member of its own neighbourhood rather than an outlier in it.
The largest of those small differences is median rent, 10% below the local median at $714 against $796. Alger County, MI has the 3rd highest median rent of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Alger County, MI | 8,761 | $173,436 #3/4 | $714 #3/4 | 86.3% #1/4 |
| Marquette County, MI | 66,775 | $185,162 | $949 | 69.7% |
| Delta County, MI | 36,813 | $52,647 | $691 | 82.0% |
| Dickinson County, MI | 25,954 | $377,272 | $796 | 82.4% |
Frequently Asked Questions
Common questions about the housing market in Alger County, Michigan.
What is the median home price in Alger County, Michigan?
The median home price in Alger County, Michigan is $173,436, higher than the Michigan average of $138,713.
What is the average home price in Alger County, Michigan?
The typical home price in Alger County, Michigan, reported as the median sale price, is $173,436. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Alger County, Michigan?
The median gross rent in Alger County, Michigan is $714 per month, lower than the Michigan average of $1,129.
What was the median gross rent in Alger County in 2020?
In 2020, the median gross rent in Alger County, Michigan was $631 per month.
What is the price-to-rent ratio in Alger County, Michigan?
The price-to-rent ratio in Alger County, Michigan is about 20.2, meaning it would take roughly 20.2 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Alger County.
Are home prices or rent rising faster in Alger County, Michigan?
Both home prices and rent are rising in Alger County, up about 11.3% and 2.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Alger County, Michigan?
49.0% of households in Alger County, Michigan own their home, lower than the Michigan average of 64.6%.
What is the vacancy rate in Alger County, Michigan?
The housing vacancy rate in Alger County, Michigan is 43.2%, higher than the Michigan average of 11.8%.
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