Allegan, MI—49328
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 $319,000, with a year-over-year change of 2.8%. 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 | $319,000 | 2.8% |
| Single Family | $319,000 | 3.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $277,000 | 4.1% |
3 Bed | $304,000 | 3.4% |
4 Bed | $342,000 | 4.6% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Allegan, MI
Allegan, MI lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| 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 | N/A | N/A |
% 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 44. This is a increase of 24.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $650,000 | 18.0% |
Listing Count | 7 | -17.0% |
| Listings as % of Homes | 0.3% | -17.0% |
Days on Market | 44 | 24.0% |
Demographics — Allegan, MI
As of the latest ACS Survey released in 2023, Allegan, MI has a population of 4,060, which has remained stable by 0.1% over the past 5 years. Allegan, MI is a moderately popular place for families, as children make up 23.1% of the population. The area has a poorly educated workforce, with 20.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 4,060 | 0.1% |
% Under 18 | 23.1% | -7.2% |
% Seniors | 16.2% | 12.5% |
% WFH | 7.6% | 100.0% |
% w/ College Degree | 20.6% | 51.5% |
As of the latest ACS Survey released in 2023, Allegan, MI is a predominantly white area, with 91.0% of the population identifying as white. The white population has shrunk by 5.5% in the last 5 years. The second most common race or ethnicity in Allegan, MI is black, making up 1.2% of the population. Foreign-born residents account for 1.0% of the population in Allegan, MI, and this percentage has increased by 42.9% 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 | 91.0% | -5.5% |
% Black | 1.2% | 20.0% |
% Hispanic | 1.1% | 266.7% |
% Asian | 0.6% | 500.0% |
% Foreign Born | 1.0% | 42.9% |
Mortgage and Risk — Allegan, MI
According to HUD data as of 2023, there were 105 mortgage originations in Allegan, MI, of which 87.0% of loans were conventional mortgages. The average loan-to-value was 54.0%, with 20.0% above 90% LTV (very high). This implies large mortgage risk in Allegan, MI. Investor activity is low, as 0.0% of loans were by investors. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 105 |
% Conventional Loans | 87.0% |
% Government Loans | 13.0% |
% Investor Loans | 0.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 16.0% |
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 | 4 |
Total Units Section 8 | 4 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $760 |
| 2 Bedroom | N/A | N/A | $1,000 |
| 3 Bedroom | N/A | N/A | $1,290 |
| 4 Bedroom | N/A | N/A | $1,320 |
Affordability — Allegan, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.1 |
| Median Home Price | $319,000 |
| Median Household Income | $89,300 |