Alpena County, Michigan Housing Market
In Alpena County, Michigan, the median home value is $153,900, with a median monthly rent of $673. This places Alpena County at #2165 nationally out of 3134 counties by median home value, and #65 within Michigan.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $986
- Establishments: 884
- BLS QCEW, 2025
Housing Supply
- Single-family: 38
- Multi-family: 34
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 12,836 (avg $62,886)
- Outflow: 12,151 (avg $63,285)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 4 active ZIP codes in Alpena County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 49746 | 186.3 | -25.34% | 2025 |
| 2 | 49766 | 245.9 | — | 2025 |
| 3 | 49753 | 180.4 | +19.46% | 2024 |
| 4 | 49707 | 194.9 | -0.24% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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💰 Mortgage Guide → 🧾 Property Tax Data →How Alpena County Compares
| Metric | Alpena County | Michigan Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $153,900 | $197,292 | $227,706 |
| Median Gross Rent | $673 | $905 | $968 |
| Owner Occupancy Rate | 80.0% | 80.2% | 73.3% |
| Price/Rent Ratio | 19.1 | 17.9 | 18.7 |
Market Analysis
The median home value in Alpena County is 22.0% below the Michigan state average and 32.4% below the U.S. national average. The median rent of $673/month is 25.6% below the state average.
With a price-to-rent ratio of 19.1, the buy-vs-rent decision in Alpena County is balanced. Whether buying or renting makes more sense depends on your time horizon, down payment capacity, and local market conditions.
Alpena County has an owner-occupancy rate of 80.0%, compared to 80.2% in Michigan and 73.3% nationally. This indicates a more homeowner-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Howard County | Arkansas | $153,900 | $690 |
| Miller County | Arkansas | $153,900 | $892 |
| Greene County | Pennsylvania | $153,900 | $789 |
| Webster County | Iowa | $153,800 | $785 |
| Yazoo County | Mississippi | $153,800 | $790 |
Other Counties in Michigan
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Huron County | $154,300 | $788 | 81.8% |
| Dickinson County | $153,300 | $797 | 82.4% |
| Ogemaw County | $154,900 | $823 | 83.7% |
| Saginaw County | $152,800 | $947 | 74.1% |
| Osceola County | $155,400 | $807 | 83.7% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).