Allendale, Michigan Housing Market Prices
Allendale 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 800% above the Michigan median$1,248,510
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Median rent 7% below the Michigan median$1,045
Housing Market Overview
| Metric | Allendale | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,248,510 | $138,713 | $248,835 |
| Price Trend (Annual %) | 143.5% | 8.6% | 7.5% |
| Median Gross Rent | $1,045 | $1,129 | $1,407 |
| Rent Trend (Annual %) | 2.2% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Allendale is about 800% higher than in Michigan. Rent is about 7% lower than the Michigan average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2021
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Allendale, up about 143.5% and 2.2% a year respectively. Home prices are changing faster.
Median rent in Allendale rose about 17.5% between 2015 and 2024, from $889 to $1,045. Over the same span, rent in Michigan rose about 44.2%.
Affordability
On average, housing unit costs 18.3 yearly household incomes in Allendale.
Buying the median-priced home in Allendale costs roughly 99.6 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 Allendale. The price-to-rent ratio in Michigan is about 10.2.
| Metric | Allendale | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,248,510 | $138,713 | $248,835 |
| Median Household Income | $68,329 | $72,977 | $80,455 |
| Price-to-Income Ratio | 18.3 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2021, the median home price in Allendale rose about 808.0%, while median household income rose about 13.3% 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 | Allendale | Michigan Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 46.5% | 64.6% | 58.5% |
| Rental Rate | 48.5% | 23.6% | 31.2% |
| Vacancy Rate | 5.0% | 11.8% | 10.2% |
| Median Tenure (years) | 12.0 | 16.0 | 15.0 |
| Median Year Moved In | 2014 | 2010 | 2011 |
Allendale has a homeownership rate of 46.5%, lower than the Michigan average of 64.6%. Its housing vacancy rate is 5.0%, compared with 11.8% in Michigan.
Housing Stock
| Metric | Allendale | Michigan Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.75 people | 2.42 people | 2.53 people |
| Median Structure Built Year | 2002 | 1972 | 1978 |
| Median Number of Rooms | 5.9 | 5.9 | 5.5 |
The typical housing unit in Allendale was built around 2002. On average, 2.8 people live in a home with about 5.9 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Allendale, Michigan.
What is the median home price in Allendale, Michigan?
The median home price in Allendale, Michigan is $1,248,510, higher than the Michigan average of $138,713.
What is the average home price in Allendale, Michigan?
The typical home price in Allendale, Michigan, reported as the median sale price, is $1,248,510. 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 Allendale, Michigan?
The median gross rent in Allendale, Michigan is $1,045 per month, lower than the Michigan average of $1,129.
What was the median gross rent in Allendale in 2020?
In 2020, the median gross rent in Allendale, Michigan was $1,015 per month.
What is the price-to-rent ratio in Allendale, Michigan?
The price-to-rent ratio in Allendale, Michigan is about 99.6, meaning it would take roughly 99.6 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 Allendale.
Are home prices or rent rising faster in Allendale, Michigan?
Both home prices and rent are rising in Allendale, up about 143.5% and 2.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Allendale, Michigan?
46.5% of households in Allendale, Michigan own their home, lower than the Michigan average of 64.6%.
What is the vacancy rate in Allendale, Michigan?
The housing vacancy rate in Allendale, Michigan is 5.0%, lower than the Michigan average of 11.8%.
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