Alma, MI 48801 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Alma, MI—48801

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$169,000

9.4% YoY Growth

Household Income

$57,400

56.7% YoY Growth

Days on Market

1.0% Shorter YoY

Home Price Forecast

-0.5%

Median Rent

$900

5.6% YoY Growth

1-Bed Rent

$750

13.8% YoY Growth

2-Bed Rent

$950

5.0% YoY Growth

3-Bed Rent

$850

22.7% YoY Growth

Home Price Trends — Alma, MI

As of May '26, the median home price in Alma, MI is $169,000, with a year-over-year change of 9.4%. This indicates that home prices in Alma, MI are increasing. According to Zillow, the 1-year price projection is -0.5%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$169,000	9.4%
Single Family	$170,000	9.7%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

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

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% of Rental Stock

Studio

0.7%

1 Bedroom

26.1%

2 Bedrooms

49.3%

3 Bedrooms

18.7%

4 Bedrooms

5.3%

Property Listings — Alma, MI

As of May '26, Realtor.com reports that the median days on market for a home in Alma, MI is 52. This is a decrease of -1.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 34.0%, representing a large inventory and a lot of supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$222,000	-16.0%
Listing Count	58	47.0%
Listings as % of Homes	0.5%	47.0%
Days on Market	52	-1.0%

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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%

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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%

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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%

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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

Alma, MI—48801

Key Metrics at a Glance

Home Price Trends — Alma, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Alma, MI

% of Rental Stock

Property Listings — Alma, MI

Demographics — Alma, MI

Race and Ethnicity

Mortgage and Risk — Alma, MI

Mortgages

Rentals and Section 8 — Alma, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — Alma, MI

Home Price to Income Ratio

Alma, MI — ZIP Code Boundary Map

Nearby ZIP Codes

Elwell, MI

Saint Louis, MI

Ithaca, MI

Sumner, MI

Shepherd, MI

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	2.6
Median Home Price	$169,000
Median Household Income	$57,400

Alma, MI—48801

Key Metrics at a Glance

Home Price Trends — Alma, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Alma, MI

% of Rental Stock

Property Listings — Alma, MI

Demographics — Alma, MI

Race and Ethnicity

Mortgage and Risk — Alma, MI

Mortgages

Rentals and Section 8 — Alma, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — Alma, MI

Home Price to Income Ratio

Alma, MI — ZIP Code Boundary Map

Nearby ZIP Codes

Elwell, MI

Saint Louis, MI

Ithaca, MI

Sumner, MI

Shepherd, MI

Frequently Asked Questions

What is the average home price in Alma, MI 48801?

How have home prices in Alma, MI 48801 changed over the past year?

What is the home price projection for Alma, MI 48801?

What are the demographics of Alma, MI 48801?

How long does it take homes to sell in Alma, MI 48801?

What is the average rent price in Alma, MI 48801?