Allen Park, Michigan Housing Market Prices
Allen Park 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 4% above the Michigan median$144,722
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Median rent 10% above the Michigan median$1,245
Housing Market Overview
| Metric | Allen Park | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $144,722 | $138,713 | $248,835 |
| Price Trend (Annual %) | 9.6% | 8.6% | 7.5% |
| Median Gross Rent | $1,245 | $1,129 | $1,407 |
| Rent Trend (Annual %) | 3.9% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Allen Park is about 4% higher than in Michigan. Rent is about 10% higher 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 Allen Park, up about 9.6% and 3.9% a year respectively. Home prices are changing faster.
Median rent in Allen Park rose about 40.4% between 2015 and 2024, from $887 to $1,245. Over the same span, rent in Michigan rose about 44.2%.
Affordability
On average, housing unit costs 1.7 yearly household incomes in Allen Park.
Buying the median-priced home in Allen Park costs roughly 9.7 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Allen Park. The price-to-rent ratio in Michigan is about 10.2.
| Metric | Allen Park | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $144,722 | $138,713 | $248,835 |
| Median Household Income | $83,258 | $72,977 | $80,455 |
| Price-to-Income Ratio | 1.7 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Allen Park rose about 71.2%, while median household income rose about 43.2% 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 | Allen Park | Michigan Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 83.2% | 64.6% | 58.5% |
| Rental Rate | 12.1% | 23.6% | 31.2% |
| Vacancy Rate | 4.7% | 11.8% | 10.2% |
| Median Tenure (years) | 18.0 | 16.0 | 15.0 |
| Median Year Moved In | 2008 | 2010 | 2011 |
Allen Park has a homeownership rate of 83.2%, higher than the Michigan average of 64.6%. Its housing vacancy rate is 4.7%, compared with 11.8% in Michigan.
Housing Stock
| Metric | Allen Park | Michigan Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.36 people | 2.42 people | 2.53 people |
| Median Structure Built Year | 1957 | 1972 | 1978 |
| Median Number of Rooms | 5.9 | 5.9 | 5.5 |
The typical housing unit in Allen Park was built around 1957. On average, 2.4 people live in a home with about 5.9 rooms, staying for about 18.0 years on average.
Allen Park, MI Housing Compared With Nearby Cities
How Allen Park, MI compares with the 2 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Allen Park, MI | 27,928 | $144,722 #3/3 | $1,245 #2/3 | 87.3% #1/3 |
| Dearborn, MI | 107,299 | $195,817 | $1,327 | 68.4% |
| Taylor, MI | 62,081 | $145,138 | $1,100 | 66.7% |
Frequently Asked Questions
Common questions about the housing market in Allen Park, Michigan.
What is the median home price in Allen Park, Michigan?
The median home price in Allen Park, Michigan is $144,722, higher than the Michigan average of $138,713.
What is the average home price in Allen Park, Michigan?
The typical home price in Allen Park, Michigan, reported as the median sale price, is $144,722. 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 Allen Park, Michigan?
The median gross rent in Allen Park, Michigan is $1,245 per month, higher than the Michigan average of $1,129.
What was the median gross rent in Allen Park in 2020?
In 2020, the median gross rent in Allen Park, Michigan was $1,016 per month.
What is the price-to-rent ratio in Allen Park, Michigan?
The price-to-rent ratio in Allen Park, Michigan is about 9.7, meaning it would take roughly 9.7 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Allen Park.
Are home prices or rent rising faster in Allen Park, Michigan?
Both home prices and rent are rising in Allen Park, up about 9.6% and 3.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Allen Park, Michigan?
83.2% of households in Allen Park, Michigan own their home, higher than the Michigan average of 64.6%.
What is the vacancy rate in Allen Park, Michigan?
The housing vacancy rate in Allen Park, Michigan is 4.7%, lower than the Michigan average of 11.8%.
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