Alpena, MI 49707 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Alpena, MI—49707

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$178,000

0.7% YoY Growth

Household Income

$50,700

23.7% YoY Growth

Days on Market

8.0% Shorter YoY

Home Price Forecast

4.4%

Median Rent

$1,000

37.3% YoY Growth

1-Bed Rent

$579

6.6% YoY Growth

2-Bed Rent

$1,180

26.2% YoY Growth

3-Bed Rent

$2,500

N/A

Home Price Trends — Alpena, MI

As of Dec '25, the median home price in Alpena, MI is $178,000, with a year-over-year change of 0.7%. This indicates that home prices in Alpena, MI are flat. According to Zillow, the 1-year price projection is 4.4%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$178,000	0.7%
Single Family	$178,000	1.1%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Alpena, MI

As of July '25, Rentcast reports the average rent in Alpena, MI is $1,140, with a year-over-year rent change of 37.3%. Per bedroom, the median rent as of July '25 in Alpena, MI is studios: $650, 1-bedrooms: $584, 2-bedrooms: $1,220, 3-bedrooms: $2,500. The most common rental property sizes in Alpena, MI are 2-bedroom and 1-bedroom, accounting for 35.6% and 32.1% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,000	$1,140
Studio Rent	$650	$650
1 Bed Rent	$579	$584
2 Bed Rent	$1,180	$1,220
3 Bed Rent	$2,500	$2,500
4 Bed Rent	N/A	N/A

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% of Rental Stock

Studio

8.7%

1 Bedroom

32.1%

2 Bedrooms

35.6%

3 Bedrooms

19.1%

4 Bedrooms

3.7%

5+ Bedrooms

0.8%

Property Listings — Alpena, MI

As of Dec '25, Realtor.com reports that the median days on market for a home in Alpena, MI is 52. This is a decrease of -12.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 16.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$252,000	17.0%
Listing Count	65	17.0%
Listings as % of Homes	0.2%	17.0%
Days on Market	66	-8.0%

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Demographics — Alpena, MI

As of the latest ACS Survey released in 2023, Alpena, MI has a population of 22,000, which has remained stable by 0.7% over the past 5 years. Alpena, MI is a moderately popular place for families, as children make up 18.5% 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 7.2% reporting working from home.

Metric	Latest Census	YoY % Change
Population	22,000	0.7%
% Under 18	18.5%	0.0%
% Seniors	24.7%	7.4%
% WFH	7.2%	125.0%
% w/ College Degree	18.6%	0.5%

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As of the latest ACS Survey released in 2023, Alpena, MI is a predominantly white area, with 92.1% of the population identifying as white. The white population has shrunk by 3.5% in the last 5 years. The second most common race or ethnicity in Alpena, MI is hispanic, making up 2.0% of the population. Foreign-born residents account for 1.3% of the population in Alpena, MI, and this percentage has decreased by 13.3% 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	92.1%	-3.5%
% Black	1.1%	83.3%
% Hispanic	2.0%	25.0%
% Asian	0.6%	20.0%
% Foreign Born	1.3%	-13.3%

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Mortgage and Risk — Alpena, MI

According to HUD data as of 2023, there were 201 mortgage originations in Alpena, MI, of which 72.0% of loans were conventional mortgages. The average loan-to-value was 76.0%, with 38.0% above 90% LTV (very high). This implies large mortgage risk in Alpena, MI. Investor activity is low, as 2.0% 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	201
% Conventional Loans	72.0%
% Government Loans	28.0%
% Investor Loans	2.0%
% Second Loans	6.0%
% Cash Out Refinance	16.0%

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Rentals and Section 8 — Alpena, MI

Alpena, MI lacks sufficient Section 8 program data for analysis.

Section 8 Market Size

Total Units under HUD	534
Total Units Section 8	339
% Rentals under Section 8	N/A
% Occupied Section 8	93.7%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$161	$579	$740
2 Bedroom	-$250	$1,180	$930
3 Bedroom	-$1,340	$2,500	$1,160
4 Bedroom	N/A	N/A	$1,570

Alpena, MI—49707

Key Metrics at a Glance

Home Price Trends — Alpena, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Alpena, MI

% of Rental Stock

Property Listings — Alpena, MI

Demographics — Alpena, MI

Race and Ethnicity

Mortgage and Risk — Alpena, MI

Mortgages

Rentals and Section 8 — Alpena, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — Alpena, MI

Home Price to Income Ratio

Alpena, MI — ZIP Code Boundary Map

Nearby ZIP Codes

Herron, MI

Ossineke, MI

Posen, MI

Hubbard Lake, MI

Lachine, MI

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.2
Median Home Price	$178,000
Median Household Income	$50,700

Alpena, MI—49707

Key Metrics at a Glance

Home Price Trends — Alpena, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Alpena, MI

% of Rental Stock

Property Listings — Alpena, MI

Demographics — Alpena, MI

Race and Ethnicity

Mortgage and Risk — Alpena, MI

Mortgages

Rentals and Section 8 — Alpena, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — Alpena, MI

Home Price to Income Ratio

Alpena, MI — ZIP Code Boundary Map

Nearby ZIP Codes

Herron, MI

Ossineke, MI

Posen, MI

Hubbard Lake, MI

Lachine, MI

Frequently Asked Questions

What is the average home price in Alpena, MI 49707?

How have home prices in Alpena, MI 49707 changed over the past year?

What is the home price projection for Alpena, MI 49707?

What are the demographics of Alpena, MI 49707?

How long does it take homes to sell in Alpena, MI 49707?

What is the average rent price in Alpena, MI 49707?