Allen Park, MI—48101
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Allen Park, MI
As of Oct '25, the median home price in Allen Park, MI is $206,000, with a year-over-year change of 4.4%. This indicates that home prices in Allen Park, MI are increasing. According to Zillow, the 1-year price projection is 1.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $206,000 | 4.4% |
| Single Family | $207,000 | 5.1% |
| Condos | $82,000 | 0.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $163,000 | 5.2% |
3 Bed | $216,000 | 4.3% |
4 Bed | $273,000 | 4.2% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Allen Park, MI
As of July '25, Rentcast reports the average rent in Allen Park, MI is $1,240, with a year-over-year rent change of -8.8%. Per bedroom, the median rent as of July '25 in Allen Park, MI is 1-bedrooms: $1,040, 2-bedrooms: $1,120, 3-bedrooms: $1,620. The most common rental property sizes in Allen Park, MI are 2-bedroom and 3-bedroom, accounting for 38.6% and 35.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,140 | $1,240 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,040 | $1,040 |
| 2 Bed Rent | $1,140 | $1,120 |
| 3 Bed Rent | $1,550 | $1,620 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Allen Park, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Allen Park, MI is 40. This is a increase of 16.0% 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 37.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $230,000 | 4.0% |
Listing Count | 91 | 25.0% |
| Listings as % of Homes | 0.2% | 25.0% |
Days on Market | 40 | 16.0% |
Demographics — Allen Park, MI
As of the latest ACS Survey released in 2023, Allen Park, MI has a population of 28,100, which has increased by 2.8% over the past 5 years. Allen Park, MI is a moderately popular place for families, as children make up 20.1% of the population. The area has a moderately educated workforce, with 29.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 28,100 | 2.8% |
% Under 18 | 20.1% | 0.5% |
% Seniors | 18.3% | 11.6% |
% WFH | 9.9% | 350.0% |
% w/ College Degree | 29.9% | 23.0% |
As of the latest ACS Survey released in 2023, Allen Park, MI is a predominantly white area, with 77.2% of the population identifying as white. The white population has shrunk by 8.6% in the last 5 years. The second most common race or ethnicity in Allen Park, MI is hispanic, making up 12.6% of the population. Foreign-born residents account for 5.1% of the population in Allen Park, MI, and this percentage has increased by 27.5% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 77.2% | -8.6% |
% Black | 4.7% | 104.3% |
% Hispanic | 12.6% | 22.3% |
% Asian | 1.5% | 150.0% |
% Foreign Born | 5.1% | 27.5% |
Mortgage and Risk — Allen Park, MI
According to HUD data as of 2023, there were 593 mortgage originations in Allen Park, MI, of which 74.0% of loans were conventional mortgages. The average loan-to-value was 69.0%, with 36.0% above 90% LTV (very high). This implies large mortgage risk in Allen Park, MI. Investor activity is low, as 1.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 593 |
% Conventional Loans | 74.0% |
% Government Loans | 26.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Allen Park, MI
Allen Park, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 85 |
Total Units Section 8 | 24 |
% Rentals under Section 8 | 1.6% |
% Occupied Section 8 | 78.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $50 | $1,040 | $1,090 |
| 2 Bedroom | $240 | $1,140 | $1,380 |
| 3 Bedroom | $140 | $1,550 | $1,690 |
| 4 Bedroom | N/A | N/A | $1,830 |
Affordability — Allen Park, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.2 |
| Median Home Price | $206,000 |
| Median Household Income | $80,000 |