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Allegan, MI—49010

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$285,000
6.5% YoY Growth
Household Income
$72,400
29.0% YoY Growth
Days on Market
30
9.0% Longer YoY
Home Price Forecast
1.0%
Median Rent
$1,500
74.6% YoY Growth
1-Bed Rent
N/A
N/A
2-Bed Rent
N/A
N/A
3-Bed Rent
N/A
N/A

Other Zip Codes in Allegan, MI

49328
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Allegan, MI

As of May '26, the median home price in Allegan, MI is $285,000, with a year-over-year change of 6.5%. This indicates that home prices in Allegan, MI are increasing. According to Zillow, the 1-year price projection is 1.0%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$285,0006.5%
Single Family $284,0006.8%
Condos N/AN/A

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$245,0005.6%
    3 Bed
    		$295,0005.4%
    4 Bed
    		$347,0005.2%
    5 Bed $405,4625.2%
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    % of Housing Stock

    Studio
    0.4%
    1 Bedroom
    4.3%
    2 Bedrooms
    22.8%
    3 Bedrooms
    51.9%
    4 Bedrooms
    16.8%
    5+ Bedrooms
    3.8%

    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.

    TypeMedian RentAverage Rent
    Average Rent$1,500$1,500
    Studio Rent N/AN/A
    1 Bed Rent N/AN/A
    2 Bed Rent N/AN/A
    3 Bed Rent N/AN/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 May '26, Realtor.com reports that the median days on market for a home in Allegan, MI is 30. This is a increase of 9.0% 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 42.0%, representing a large inventory and a lot of supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$345,0008.0%
    Listing Count
    		766.0%
    Listings as % of Homes0.5%6.0%
    Days on Market
    		309.0%
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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.

    MetricLatest CensusYoY % Change
    Population
    		18,4004.5%
    % 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

    MetricLatest Census5-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

    MetricZip 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 SizeHUD PremiumMarket RentMax HUD Rent
    1 BedroomN/AN/A$800
    2 BedroomN/AN/A$1,050
    3 BedroomN/AN/A$1,340
    4 Bedroom-$90$1,500$1,410

    Affordability — Allegan, MI

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio3.2
    Median Home Price$285,000
    Median Household Income$72,400

    Allegan, MI — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Allegan, MI

    49328

    Otsego, MI

    49078

    Gobles, MI

    49055

    Hamilton, MI

    49419

    Bloomingdale, MI

    49026

    Frequently Asked Questions