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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Algonac, MI Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Algonac, MI Housing Market Trends

With 4,150 people, 1,822 houses or apartments, and a median cost of homes of $186,007, house prices in Algonac are solidly below the national average.

Single-family detached homes are the single most common housing type in Algonac, accounting for 80.70% of the city's housing units. Other types of housing that are prevalent in Algonac include large apartment complexes or high rise apartments ( 11.50%), row houses and other attached homes ( 4.77%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.03%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Algonac. Owner-occupied housing accounts for 70.66% of Algonac's homes, and 56.83% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Algonac built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Algonac built between 1940-1969 ( 34.60%). A lesser amount of the housing stock also hails from before 1939 ( 18.07%). There's also some housing in Algonac built between 2000 and later ( 9.70%).

Algonac Home Appreciation Rates

Real estate appreciation rates in Algonac's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.04% during the period.

Over the last year, Algonac appreciation rates have trailed the rest of the nation. In the last twelve months, Algonac's appreciation rate has been 4.30%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Algonac were at 1.70%, which equates to an annual appreciation rate of 6.95%.

Relative to Michigan, our data show that Algonac's latest annual appreciation rate is lower than 70% of the other cities and towns in Michigan.

Average Home Values

Median Home Value

$186,007

Algonac, MI Home Prices
> $1,181,000
$885,001 - $1,181,000
$590,001 - $885,000
$472,001 - $590,000
$354,001 - $472,000
$236,001 - $354,000
$118,001 - $236,000
$59,001 - $118,000
$0 - $59,000
0.0%
0.0%
1.1%
1.1%
3.9%
3.9%
3.9%
3.9%
4.5%
4.5%
18.6%
18.6%
48.7%
48.7%
17.0%
17.0%
2.3%
2.3%
0% 100.0%
% of Homes
Low

for Michigan

Low

for nation

Number of Homes And Apartments:

1,822

Algonac Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,369 / per month

Homeownership Rate

Owners
Renters
70.7%
70.7%
29.3%
29.3%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
6.5%
6.5%
93.5%
93.5%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
9.7%
9.7%
37.6%
37.6%
34.6%
34.6%
18.1%
18.1%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
80.7%
80.7%
4.8%
4.8%
3.0%
3.0%
11.5%
11.5%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.7%
1.7%
11.3%
11.3%
27.9%
27.9%
43.1%
43.1%
13.7%
13.7%
2.3%
2.3%
0% 100.0%
% of Homes

Popular Neighborhoods in Algonac

Zip Codes in Algonac, MI