Allegan, MI 49010 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Allegan, MI—49010

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$271,000

3.7% YoY Growth

Household Income

$72,400

29.0% YoY Growth

Days on Market

1.0% Shorter YoY

Home Price Forecast

3.1%

Median Rent

$1,500

74.6% YoY Growth

1-Bed Rent

N/A

2-Bed Rent

N/A

3-Bed Rent

N/A

Other Zip Codes in Allegan, MI

49328

Home Price Trends — Allegan, MI

As of Dec '25, the median home price in Allegan, MI is $271,000, with a year-over-year change of 3.7%. This indicates that home prices in Allegan, MI are increasing. According to Zillow, the 1-year price projection is 3.1%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$271,000	3.7%
Single Family	$271,000	4.2%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Allegan, MI

As of July '25, Rentcast reports the average rent in Allegan, MI is $1,500, with a year-over-year rent change of 74.6%. Per bedroom, the median rent as of July '25 in Allegan, MI is 4-bedrooms: $1,500. The most common rental property sizes in Allegan, MI are 2-bedroom and 3-bedroom, accounting for 39.6% and 35.1% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,500	$1,500
Studio Rent	N/A	N/A
1 Bed Rent	N/A	N/A
2 Bed Rent	N/A	N/A
3 Bed Rent	N/A	N/A
4 Bed Rent	$1,500	$1,500

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% of Rental Stock

Studio

2.2%

1 Bedroom

19.4%

2 Bedrooms

39.6%

3 Bedrooms

35.1%

4 Bedrooms

3.8%

Property Listings — Allegan, MI

As of Dec '25, Realtor.com reports that the median days on market for a home in Allegan, MI is 45. This is a decrease of -8.0% 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 35.0%, representing a large inventory and a lot of supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$365,000	28.0%
Listing Count	49	-7.0%
Listings as % of Homes	0.5%	-7.0%
Days on Market	52	-1.0%

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Demographics — Allegan, MI

As of the latest ACS Survey released in 2023, Allegan, MI has a population of 18,400, which has increased by 4.5% over the past 5 years. Allegan, MI is a moderately popular place for families, as children make up 22.2% of the population. The area has a poorly educated workforce, with 18.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.1% reporting working from home.

Metric	Latest Census	YoY % Change
Population	18,400	4.5%
% Under 18	22.2%	3.3%
% Seniors	17.8%	3.5%
% WFH	8.1%	97.6%
% w/ College Degree	18.1%	5.2%

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As of the latest ACS Survey released in 2023, Allegan, MI is a predominantly white area, with 87.1% of the population identifying as white. The white population has shrunk by 2.9% in the last 5 years. The second most common race or ethnicity in Allegan, MI is hispanic, making up 4.7% of the population. Foreign-born residents account for 1.7% of the population in Allegan, MI, and this percentage has increased by 13.3% 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	87.1%	-2.9%
% Black	1.4%	-65.0%
% Hispanic	4.7%	17.5%
% Asian	0.8%	-11.1%
% Foreign Born	1.7%	13.3%

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Mortgage and Risk — Allegan, MI

According to HUD data as of 2023, there were 323 mortgage originations in Allegan, MI, of which 79.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 33.0% above 90% LTV (very high). This implies large mortgage risk in Allegan, MI. Investor activity is low, as 2.0% 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	323
% Conventional Loans	79.0%
% Government Loans	21.0%
% Investor Loans	2.0%
% Second Loans	4.0%
% Cash Out Refinance	13.0%

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Rentals and Section 8 — Allegan, MI

Allegan, MI lacks sufficient Section 8 program data for analysis.

Section 8 Market Size

Total Units under HUD	164
Total Units Section 8	164
% Rentals under Section 8	N/A
% Occupied Section 8	93.0%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	N/A	N/A	$800
2 Bedroom	N/A	N/A	$1,050
3 Bedroom	N/A	N/A	$1,340
4 Bedroom	-$90	$1,500	$1,410

Allegan, MI—49010

Key Metrics at a Glance

Other Zip Codes in Allegan, MI

Home Price Trends — Allegan, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Allegan, MI

% of Rental Stock

Property Listings — Allegan, MI

Demographics — Allegan, MI

Race and Ethnicity

Mortgage and Risk — Allegan, MI

Mortgages

Rentals and Section 8 — Allegan, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — Allegan, MI

Home Price to Income Ratio

Allegan, MI — ZIP Code Boundary Map

Nearby ZIP Codes

Allegan, MI

Otsego, MI

Gobles, MI

Hamilton, MI

Bloomingdale, MI

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.2
Median Home Price	$271,000
Median Household Income	$72,400

Allegan, MI—49010

Key Metrics at a Glance

Other Zip Codes in Allegan, MI

Home Price Trends — Allegan, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Allegan, MI

% of Rental Stock

Property Listings — Allegan, MI

Demographics — Allegan, MI

Race and Ethnicity

Mortgage and Risk — Allegan, MI

Mortgages

Rentals and Section 8 — Allegan, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — Allegan, MI

Home Price to Income Ratio

Allegan, MI — ZIP Code Boundary Map

Nearby ZIP Codes

Allegan, MI

Otsego, MI

Gobles, MI

Hamilton, MI

Bloomingdale, MI

Frequently Asked Questions

What is the average home price in Allegan, MI 49010?

How have home prices in Allegan, MI 49010 changed over the past year?

What is the home price projection for Allegan, MI 49010?

What are the demographics of Allegan, MI 49010?

How long does it take homes to sell in Allegan, MI 49010?

What is the average rent price in Allegan, MI 49010?