Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$219,882+7.8% YoY · prices are rising fast
Market right nowBalanced marketMore homes for sale than last year, 10% have cut their price
Income needed to buy, per year$47,666About 0.7× the local median income ($63,959): affordable for a typical household
Days on market76 daysFaster than a year ago: sellers have the edge
The typical home in Alger County, MI is worth $219,882, up 7.8% from a year ago. That is slightly below what local incomes have historically supported: fair value is about $228,344, so the area is 3.7% undervalued. It is a balanced market: homes take about 76 days to sell, listings are up 28% from a year ago, 10% of listings have had a price cut. A household needs about $47,666 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $63,959. In the latest IRS figures, 44 more people moved in than out.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$219,882
Change in 1 year
+7.8%
Overvalued %
−3.7%
Show 6 more
Fair home value
$228,344
Change in 5 years
+20.2%
Home value to income
3.4×
Monthly mortgage payment (20% down)
$1,192
Income needed to afford it
$47,666
Property tax rate
0.94%
Rent and investing
HUD Fair Market Rent, 2 bedrooms
$1,064
Market activity
Listings vs a year ago
+27.8%
Days on market
76
Listings with a price cut
9.8%
Show 3 more
Homes for sale
69
Pending sales per 100 listings
39
Asking price per sq ft
$239
People and jobs
Median household income
$63,959
Population change (1 year)
−0.8%
Unemployment rate
6.8%
Show 4 more
Population
8,641
Income adjusted for cost of living
$71,864
Net moves in (IRS)
+44
Cost of living (US = 100)
89.0
Schools, risk and environment
School rating (1 to 10)
5.3
FEMA hazard risk score (0 to 100)
9.6
Flood risk score
22.0
Show 3 more
Wildfire risk score
28.9
Walkability (1 to 20)
6.2
Road, rail and air noise
54 dB
Questions people ask
Is Alger County, MI overvalued?
Home prices in Alger County, MI are slightly below what local incomes have historically supported: fair value is about $228,344, so the area is 3.7% undervalued.
Is Alger County, MI a buyer's or seller's market?
Alger County, MI is a balanced market: homes take about 76 days to sell, listings are up 28% from a year ago, 10% of listings have had a price cut.
Are home prices going down in Alger County, MI?
Home values in Alger County, MI are up 7.8% over the last year.
How much do you need to earn to buy a home in Alger County, MI?
A household needs about $47,666 a year to afford the typical home in Alger County, MI at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $63,959.