Alma, MI—48801
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Alma, MI
As of Oct '25, the median home price in Alma, MI is $157,000, with a year-over-year change of 4.8%. This indicates that home prices in Alma, MI are increasing. According to Zillow, the 1-year price projection is 0.6%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $157,000 | 4.8% |
| Single Family | $158,000 | 6.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $127,000 | 0.0% |
3 Bed | $174,000 | 3.6% |
4 Bed | $220,000 | 3.3% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Alma, MI
As of July '25, Rentcast reports the average rent in Alma, MI is $864, with a year-over-year rent change of -5.6%. Per bedroom, the median rent as of July '25 in Alma, MI is 1-bedrooms: $783, 2-bedrooms: $950, 3-bedrooms: $850. The most common rental property sizes in Alma, MI are 2-bedroom and 1-bedroom, accounting for 49.3% and 26.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $900 | $864 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $750 | $783 |
| 2 Bed Rent | $950 | $950 |
| 3 Bed Rent | $850 | $850 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Alma, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Alma, MI is 52. This is a decrease of -4.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 26.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $177,000 | -3.0% |
Listing Count | 46 | 16.0% |
| Listings as % of Homes | 0.5% | 16.0% |
Days on Market | 52 | -4.0% |
Demographics — Alma, MI
As of the latest ACS Survey released in 2023, Alma, MI has a population of 13,400, which has increased by 5.6% over the past 5 years. Alma, MI is a moderately popular place for families, as children make up 20.8% of the population. The area has a moderately educated workforce, with 28.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 13,400 | 5.6% |
% Under 18 | 20.8% | 7.8% |
% Seniors | 17.8% | 4.1% |
% WFH | 10.7% | 55.1% |
% w/ College Degree | 28.5% | 34.4% |
As of the latest ACS Survey released in 2023, Alma, MI is a predominantly white area, with 84.9% of the population identifying as white. The white population has shrunk by 5.4% in the last 5 years. The second most common race or ethnicity in Alma, MI is hispanic, making up 10.0% of the population. Foreign-born residents account for 1.6% of the population in Alma, MI, and this percentage has increased by 33.3% 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 | 84.9% | -5.4% |
% Black | 2.1% | -16.0% |
% Hispanic | 10.0% | 38.9% |
% Asian | 1.0% | 400.0% |
% Foreign Born | 1.6% | 33.3% |
Mortgage and Risk — Alma, MI
According to HUD data as of 2023, there were 217 mortgage originations in Alma, MI, of which 77.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 37.0% above 90% LTV (very high). This implies large mortgage risk in Alma, MI. Investor activity is low, as 4.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 217 |
% Conventional Loans | 77.0% |
% Government Loans | 23.0% |
% Investor Loans | 4.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Alma, MI
Alma, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 411 |
Total Units Section 8 | 317 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 88.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$10 | $750 | $740 |
| 2 Bedroom | -$20 | $950 | $930 |
| 3 Bedroom | $380 | $850 | $1,230 |
| 4 Bedroom | N/A | N/A | $1,530 |
Affordability — Alma, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.5 |
| Median Home Price | $157,000 |
| Median Household Income | $57,400 |