Albion, MI 49224 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Albion, MI—49224

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$148,000

0.9% YoY Growth

Household Income

$52,600

40.5% YoY Growth

Days on Market

10.0% Longer YoY

Home Price Forecast

2.8%

Median Rent

$1,200

28.9% YoY Growth

1-Bed Rent

$650

8.3% YoY Growth

2-Bed Rent

$1,260

19.0% YoY Growth

3-Bed Rent

$1,140

N/A

Home Price Trends — Albion, MI

As of Dec '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 2.8%, 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	1.4%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

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

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% of Rental Stock

Studio

2.0%

1 Bedroom

12.9%

2 Bedrooms

41.1%

3 Bedrooms

29.3%

4 Bedrooms

11.8%

5+ Bedrooms

3.0%

Property Listings — Albion, MI

As of Dec '25, Realtor.com reports that the median days on market for a home in Albion, MI is 54. This is a increase of 27.0% 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 19.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$170,000	25.0%
Listing Count	42	-19.0%
Listings as % of Homes	0.7%	-19.0%
Days on Market	70	10.0%

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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%

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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%

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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%

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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

Albion, MI—49224

Key Metrics at a Glance

Home Price Trends — Albion, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Albion, MI

% of Rental Stock

Property Listings — Albion, MI

Demographics — Albion, MI

Race and Ethnicity

Mortgage and Risk — Albion, MI

Mortgages

Rentals and Section 8 — Albion, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — Albion, MI

Home Price to Income Ratio

Albion, MI — ZIP Code Boundary Map

Nearby ZIP Codes

Springport, MI

Concord, MI

Homer, MI

Parma, MI

Marshall, MI

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	2.5
Median Home Price	$148,000
Median Household Income	$52,600

Albion, MI—49224

Key Metrics at a Glance

Home Price Trends — Albion, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Albion, MI

% of Rental Stock

Property Listings — Albion, MI

Demographics — Albion, MI

Race and Ethnicity

Mortgage and Risk — Albion, MI

Mortgages

Rentals and Section 8 — Albion, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — Albion, MI

Home Price to Income Ratio

Albion, MI — ZIP Code Boundary Map

Nearby ZIP Codes

Springport, MI

Concord, MI

Homer, MI

Parma, MI

Marshall, MI

Frequently Asked Questions

What is the average home price in Albion, MI 49224?

How have home prices in Albion, MI 49224 changed over the past year?

What is the home price projection for Albion, MI 49224?

What are the demographics of Albion, MI 49224?

How long does it take homes to sell in Albion, MI 49224?

What is the average rent price in Albion, MI 49224?