Allegan, MI—49010
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Allegan, MI
Home Price Trends — Allegan, MI
As of Oct '25, the median home price in Allegan, MI is $271,000, with a year-over-year change of 3.1%. This indicates that home prices in Allegan, MI are increasing. According to Zillow, the 1-year price projection is 2.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $271,000 | 3.2% |
| Single Family | $270,000 | 3.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $236,000 | 4.0% |
3 Bed | $282,000 | 3.3% |
4 Bed | $335,000 | 3.7% |
| 5 Bed | $389,000 | 3.2% |
% of Housing Stock
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 |
% of Rental Stock
Property Listings — Allegan, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Allegan, MI is 54. This is a increase of 13.0% 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 17.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $370,000 | 31.0% |
Listing Count | 60 | 4.0% |
| Listings as % of Homes | 0.5% | 4.0% |
Days on Market | 54 | 13.0% |
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% |
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% |
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% |
Loan Activity
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 |
Affordability — Allegan, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.2 |
| Median Home Price | $271,000 |
| Median Household Income | $72,400 |