Albion, MI—49224
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Albion, MI
As of Oct '25, the median home price in Albion, MI is $148,000, with a year-over-year change of 0.9%. This indicates that home prices in Albion, MI are flat. According to Zillow, the 1-year price projection is 1.8%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $148,000 | 0.9% |
| Single Family | $148,000 | 0.7% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $114,000 | 1.8% |
3 Bed | $144,000 | 0.7% |
4 Bed | $172,000 | 0.0% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Albion, MI
As of July '25, Rentcast reports the average rent in Albion, MI is $1,160, with a year-over-year rent change of 28.9%. Per bedroom, the median rent as of July '25 in Albion, MI is 1-bedrooms: $650, 2-bedrooms: $1,250, 3-bedrooms: $1,280. The most common rental property sizes in Albion, MI are 2-bedroom and 3-bedroom, accounting for 41.1% and 29.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,200 | $1,160 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $650 | $650 |
| 2 Bed Rent | $1,260 | $1,250 |
| 3 Bed Rent | $1,140 | $1,280 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Albion, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Albion, MI is 57. This is a increase of 30.0% 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 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 | $217,000 | 23.0% |
Listing Count | 38 | -15.0% |
| Listings as % of Homes | 0.7% | -15.0% |
Days on Market | 57 | 30.0% |
Demographics — Albion, MI
As of the latest ACS Survey released in 2023, Albion, MI has a population of 13,300, which has decreased by -5.6% over the past 5 years. Albion, MI is a popular place for families, as children make up 25.9% of the population. The area has a poorly educated workforce, with 18.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 13,300 | -5.6% |
% Under 18 | 25.9% | 10.2% |
% Seniors | 13.9% | -9.7% |
% WFH | 7.7% | 57.1% |
% w/ College Degree | 18.6% | 5.1% |
As of the latest ACS Survey released in 2023, Albion, MI is a predominantly white area, with 69.4% of the population identifying as white. The white population has shrunk by 0.7% in the last 5 years. The second most common race or ethnicity in Albion, MI is black, making up 19.9% of the population. Foreign-born residents account for 1.1% of the population in Albion, MI, and this percentage has increased by 37.5% 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 | 69.4% | -0.7% |
% Black | 19.9% | -2.5% |
% Hispanic | 4.8% | -22.6% |
% Asian | 0.4% | 0.0% |
% Foreign Born | 1.1% | 37.5% |
Mortgage and Risk — Albion, MI
According to HUD data as of 2023, there were 169 mortgage originations in Albion, MI, of which 73.0% of loans were conventional mortgages. The average loan-to-value was 78.0%, with 34.0% above 90% LTV (very high). This implies large mortgage risk in Albion, 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 | 169 |
% Conventional Loans | 73.0% |
% Government Loans | 27.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Albion, MI
Albion, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 439 |
Total Units Section 8 | 221 |
% Rentals under Section 8 | 18.5% |
% Occupied Section 8 | 90.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $160 | $650 | $810 |
| 2 Bedroom | -$270 | $1,260 | $990 |
| 3 Bedroom | $140 | $1,140 | $1,280 |
| 4 Bedroom | N/A | N/A | $1,460 |
Affordability — Albion, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.5 |
| Median Home Price | $148,000 |
| Median Household Income | $52,600 |