Algonac, MI—48001
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Algonac, MI
As of Oct '25, the median home price in Algonac, MI is $245,000, with a year-over-year change of 3.7%. This indicates that home prices in Algonac, MI are increasing. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $245,000 | 3.7% |
| Single Family | $246,000 | 3.4% |
| Condos | $240,000 | 5.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $142,000 | 0.7% |
2 Bed | $224,000 | 4.2% |
3 Bed | $269,000 | 3.9% |
4 Bed | $347,000 | 3.6% |
| 5 Bed | $404,000 | 3.9% |
% of Housing Stock
Rental Trends — Algonac, MI
As of July '25, Rentcast reports the average rent in Algonac, MI is $1,320, with a year-over-year rent change of -12.0%. Per bedroom, the median rent as of July '25 in Algonac, MI is 1-bedrooms: $912, 2-bedrooms: $1,180, 3-bedrooms: $1,450. The most common rental property sizes in Algonac, MI are 1-bedroom and 3-bedroom, accounting for 40.5% and 28.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,200 | $1,320 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $875 | $912 |
| 2 Bed Rent | $1,100 | $1,180 |
| 3 Bed Rent | $1,450 | $1,450 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Algonac, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Algonac, MI is 55. This is a increase of 31.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 39.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $361,000 | 11.0% |
Listing Count | 66 | 43.0% |
| Listings as % of Homes | 0.8% | 43.0% |
Days on Market | 55 | 31.0% |
Demographics — Algonac, MI
As of the latest ACS Survey released in 2023, Algonac, MI has a population of 11,500, which has decreased by -3.2% over the past 5 years. Algonac, MI is a moderately popular place for families, as children make up 16.1% of the population. The area has a poorly educated workforce, with 17.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 11,500 | -3.2% |
% Under 18 | 16.1% | -13.4% |
% Seniors | 24.3% | 13.6% |
% WFH | 6.5% | 132.1% |
% w/ College Degree | 17.9% | 20.9% |
As of the latest ACS Survey released in 2023, Algonac, MI is a predominantly white area, with 94.0% of the population identifying as white. The white population has shrunk by 3.4% in the last 5 years. The second most common race or ethnicity in Algonac, MI is hispanic, making up 2.0% of the population. Foreign-born residents account for 2.0% of the population in Algonac, MI, and this percentage has decreased by 41.2% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 94.0% | -3.4% |
% Black | 0.3% | 200.0% |
% Hispanic | 2.0% | 100.0% |
% Asian | 0.4% | -42.9% |
% Foreign Born | 2.0% | -41.2% |
Mortgage and Risk — Algonac, MI
According to HUD data as of 2023, there were 295 mortgage originations in Algonac, MI, of which 83.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 23.0% above 90% LTV (very high). This implies large mortgage risk in Algonac, MI. Investor activity is low, as 2.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 295 |
% Conventional Loans | 83.0% |
% Government Loans | 17.0% |
% Investor Loans | 2.0% |
% Second Loans | 5.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Algonac, MI
Algonac, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 87 |
Total Units Section 8 | 13 |
% Rentals under Section 8 | 1.6% |
% Occupied Section 8 | 91.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $85 | $875 | $960 |
| 2 Bedroom | $110 | $1,100 | $1,210 |
| 3 Bedroom | $30 | $1,450 | $1,480 |
| 4 Bedroom | N/A | N/A | $1,600 |
Affordability — Algonac, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $245,000 |
| Median Household Income | $64,500 |