Alpena County, Michigan Housing Market Prices
Alpena 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 9% below the Michigan median$125,833
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Median rent 40% below the Michigan median Among the top 5 cheapest counties in Michigan$672
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Alpena County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $125,833 | $138,713 | $248,835 |
| Price Trend (Annual %) | 6.7% | 8.6% | 7.5% |
| Median Gross Rent | $672 | $1,129 | $1,407 |
| Rent Trend (Annual %) | 2.1% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Alpena County is about 9% lower than in Michigan. Rent is about 40% 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 Alpena County, up about 6.7% and 2.1% a year respectively. Home prices are changing faster.
Median rent in Alpena County rose about 19.2% between 2015 and 2024, from $564 to $672. Over the same span, rent in Michigan rose about 44.2%.
Affordability
On average, housing unit costs 2.3 yearly household incomes in Alpena County.
Buying the median-priced home in Alpena County costs roughly 15.6 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Alpena County. The price-to-rent ratio in Michigan is about 10.2.
| Metric | Alpena County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $125,833 | $138,713 | $248,835 |
| Median Household Income | $54,138 | $72,977 | $80,455 |
| Price-to-Income Ratio | 2.3 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Alpena County rose about 57.9%, while median household income rose about 36.9% 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 | Alpena County | Michigan Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 66.3% | 64.6% | 58.5% |
| Rental Rate | 16.6% | 23.6% | 31.2% |
| Vacancy Rate | 17.1% | 11.8% | 10.2% |
| Median Tenure (years) | 17.0 | 16.0 | 15.0 |
| Median Year Moved In | 2009 | 2010 | 2011 |
Alpena County has a homeownership rate of 66.3%, higher than the Michigan average of 64.6%. Its housing vacancy rate is 17.1%, compared with 11.8% in Michigan.
Housing Stock
| Metric | Alpena County | Michigan Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.17 people | 2.42 people | 2.53 people |
| Median Structure Built Year | 1967 | 1972 | 1978 |
| Median Number of Rooms | 5.7 | 5.9 | 5.5 |
The typical housing unit in Alpena County was built around 1967. On average, 2.2 people live in a home with about 5.7 rooms, staying for about 17.0 years on average.
Alpena County, MI Housing Compared With Nearby Counties
How Alpena County, MI compares with the 2 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Alpena County, MI | 28,880 | $125,833 #3/3 | $672 #3/3 | 80.0% #3/3 |
| Alcona County, MI | 10,397 | $152,842 | $866 | 89.6% |
| Iosco County, MI | 25,347 | $139,147 | $719 | 82.1% |
Frequently Asked Questions
Common questions about the housing market in Alpena County, Michigan.
What is the median home price in Alpena County, Michigan?
The median home price in Alpena County, Michigan is $125,833, lower than the Michigan average of $138,713.
What is the average home price in Alpena County, Michigan?
The typical home price in Alpena County, Michigan, reported as the median sale price, is $125,833. 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 Alpena County, Michigan?
The median gross rent in Alpena County, Michigan is $672 per month, lower than the Michigan average of $1,129.
What was the median gross rent in Alpena County in 2020?
In 2020, the median gross rent in Alpena County, Michigan was $580 per month.
What is the price-to-rent ratio in Alpena County, Michigan?
The price-to-rent ratio in Alpena County, Michigan is about 15.6, meaning it would take roughly 15.6 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Alpena County.
Are home prices or rent rising faster in Alpena County, Michigan?
Both home prices and rent are rising in Alpena County, up about 6.7% and 2.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Alpena County, Michigan?
66.3% of households in Alpena County, Michigan own their home, higher than the Michigan average of 64.6%.
What is the vacancy rate in Alpena County, Michigan?
The housing vacancy rate in Alpena County, Michigan is 17.1%, higher than the Michigan average of 11.8%.
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