Allendale, MI—49401
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Allendale, MI
As of Oct '25, the median home price in Allendale, MI is $392,000, with a year-over-year change of 4.1%. This indicates that home prices in Allendale, MI are increasing. According to Zillow, the 1-year price projection is 2.7%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $392,000 | 4.1% |
| Single Family | $396,000 | 3.4% |
| Condos | $359,000 | 1.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $328,000 | 2.5% |
3 Bed | $379,000 | 1.9% |
4 Bed | $420,000 | 2.7% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Allendale, MI
As of July '25, Rentcast reports the average rent in Allendale, MI is $1,780, with a year-over-year rent change of 49.6%. Per bedroom, the median rent as of July '25 in Allendale, MI is 1-bedrooms: $1,430, 2-bedrooms: $2,260, 3-bedrooms: $1,230, 4-bedrooms: $1,880. The most common rental property sizes in Allendale, MI are 4-bedroom and 2-bedroom, accounting for 47.5% and 27.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,750 | $1,780 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,430 | $1,430 |
| 2 Bed Rent | $2,260 | $2,260 |
| 3 Bed Rent | $710 | $1,230 |
| 4 Bed Rent | $2,500 | $1,880 |
% of Rental Stock
Property Listings — Allendale, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Allendale, MI is 52. This is a decrease of 0.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 24.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $490,000 | 6.0% |
Listing Count | 68 | -23.0% |
| Listings as % of Homes | 0.4% | -23.0% |
Days on Market | 52 | 0.0% |
Demographics — Allendale, MI
As of the latest ACS Survey released in 2023, Allendale, MI has a population of 28,900, which has increased by 19.1% over the past 5 years. Allendale, MI is a moderately popular place for families, as children make up 16.4% of the population. The area has a moderately educated workforce, with 40.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 28,900 | 19.1% |
% Under 18 | 16.4% | 0.0% |
% Seniors | 5.7% | 23.9% |
% WFH | 8.4% | 154.5% |
% w/ College Degree | 40.6% | 8.0% |
As of the latest ACS Survey released in 2023, Allendale, MI is a predominantly white area, with 88.9% of the population identifying as white. The white population has grown by 7.2% in the last 5 years. The second most common race or ethnicity in Allendale, MI is hispanic, making up 4.4% of the population. Foreign-born residents account for 2.0% of the population in Allendale, MI, and this percentage has decreased by 57.4% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 88.9% | 7.2% |
% Black | 2.0% | -47.4% |
% Hispanic | 4.4% | -45.0% |
% Asian | 1.5% | -6.2% |
% Foreign Born | 2.0% | -57.4% |
Mortgage and Risk — Allendale, MI
According to HUD data as of 2023, there were 446 mortgage originations in Allendale, MI, of which 91.0% of loans were conventional mortgages. The average loan-to-value was 54.0%, with 17.0% above 90% LTV (elevated). This implies medium mortgage risk in Allendale, MI. Investor activity is low, as 1.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 446 |
% Conventional Loans | 91.0% |
% Government Loans | 9.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Allendale, MI
As of 2024, the percent of homes in Allendale, MI under the Section 8 program is 0.7%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Allendale, MI, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 29 |
Total Units Section 8 | 29 |
% Rentals under Section 8 | 0.7% |
% Occupied Section 8 | 93.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$80 | $1,430 | $1,350 |
| 2 Bedroom | -$720 | $2,260 | $1,540 |
| 3 Bedroom | $1,270 | $710 | $1,980 |
| 4 Bedroom | -$250 | $2,500 | $2,250 |
Affordability — Allendale, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5 |
| Median Home Price | $392,000 |
| Median Household Income | $73,000 |