In Alpena, a typical home is worth $118,700 and typical rent is $625 a month. Compared with all of Alpena County, the typical home value is 23% lower, typical household income is 12% lower, and the share of households that own their home is 14 points lower.
Typical home value from Zillow, September 2021 to September 2026: from $144,851 to $192,261.
From Zillow (ZHVI), September 2026. The Census figures above are 5-year averages (2020–2024).
Alpena is in Alpena County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Alpena County. See the county
What this place has that others do not, from public data, most unusual first.
1
Alpena has the lowest typical rent of the 175 cities in Michigan with more than 5,000 people: $625.
2
According to Zillow, in the 12 months to September 2026 the typical home value in Alpena rose 8.7%; in Michigan, it rose 3.8%.
3
66% of households in Alpena own their home, against 80% in Alpena County.
4
The typical home in Alpena is worth $118,700,23% less than in Alpena County as a whole ($153,900).
5
Nearby, in Bay City, the typical home value is $97,600: 18% less than in Alpena ($118,700).
Sources: U.S. Census Bureau (Average 2020–2024); Zillow (September 2026 data). Zillow data
The homes here
Housing in Alpena
What homes there are in Alpena, what they cost, how that changed and how people live, from Census figures (2020–2024).
What homes there are
U.S. Census Bureau, ACS 5-year, 2020–2024
Kind of home
Detached houseAttached houseBuilding of 2 to 4Apartments (5 or more)Mobile homeBoat, RV and otherUnreliable estimate
Alpena
Alpena County
Michigan
United States
Kind of home: Alpena and its comparisons
Measure
Alpena
Alpena County
Michigan
United States
Detached house
70%
80%
72%
61%
Attached house
Unreliable estimate
1%
5%
6%
Building of 2 to 4
15%
7%
5%
8%
Apartments (5 or more)
14%
6%
13%
19%
Mobile home
Unreliable estimate
5%
5%
6%
Boat, RV and other
Unreliable estimate
Unreliable estimate
0%
0%
In Alpena, 7 in 10 homes are single-family detached houses; in Alpena County, 8.
Year built
Before 19601960–19791980–19992000–20092010 or later
Alpena
Alpena County
Michigan
United States
Year built: Alpena and its comparisons
Measure
Alpena
Alpena County
Michigan
United States
Before 1960
60%
39%
36%
26%
1960–1979
24%
34%
26%
24%
1980–1999
10%
18%
22%
25%
2000–2009
4%
7%
10%
14%
2010 or later
3%
3%
6%
11%
The typical home in Alpena was built in 1955, 13 years before the typical one in Alpena County.
What it costs here
U.S. Census Bureau, ACS 5-year, 2020–2024
Value of owner-occupied homes
Under the limitOver the limitUnreliable estimate
Under $100K39%
$100K–$200K46%
$200K–$300K7%
$300K–$500K7%
$500K–$750KUnreliable
FHA limit: $541,287
$750K–$1MUnreliable
$1M or moreUnreliable
Value of owner-occupied homes: Alpena and its comparisons
Measure
Alpena
Under $100K
39%
$100K–$200K
46%
$200K–$300K
7%
$300K–$500K
7%
$500K–$750K
Unreliable estimate
$750K–$1M
Unreliable estimate
$1M or more
Unreliable
At least 99% of owner-occupied homes in Alpena are worth less than $500,000, below the FHA loan limit for Alpena County ($541,287).
Monthly rent with utilities
Under the limitOver the limitUnreliable estimate
Under $50038%
$500–$99949%
$1,000–$1,49910%
HUD fair market rent, 2 bedrooms: $1,014
$1,500–$1,999Unreliable
$2,000–$2,499Unreliable
$2,500–$2,999Unreliable
$3,000 or moreUnreliable
Monthly rent with utilities: Alpena and its comparisons
Measure
Alpena
Under $500
38%
$500–$999
49%
$1,000–$1,499
10%
$1,500–$1,999
Unreliable estimate
$2,000–$2,499
Unreliable
$2,500–$2,999
Unreliable
$3,000 or more
Unreliable estimate
By rent, most homes in Alpena cost less than HUD's 2-bedroom fair market rent ($1,014): about 87%.
With a mortgage
$972 a month
Alpena County: $1,096 a month
Without a mortgage
$450 a month
Alpena County: $455 a month
Owners with a mortgage
47%
Alpena County: 48%
In Alpena, 47% of owners have a mortgage, and their typical cost is $972 a month, against $1,096 in Alpena County. Without one it drops to $450.
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019
Typical home value
Alpena+59%
Alpena County+60%
Michigan+50%
United States+53%
Typical rent
AlpenaNo clear change
Alpena County+13%
Michigan+30%
United States+33%
Typical household income
Alpena+19%
Alpena County+24%
Michigan+28%
United States+29%
Change since 2015–2019: Alpena and its comparisons
Measure
Alpena
Alpena County
Michigan
United States
Typical home value
+59%
+60%
+50%
+53%
Typical rent
No clear change
+13%
+30%
+33%
Typical household income
+19%
+24%
+28%
+29%
From 2015–2019 to 2020–2024, home values in Alpena rose at about the same pace as in Alpena County: 59% against 60%.
The typical rent in Alpena stayed about the same over that time: the difference is within the Census margin of error.
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: Alpena and its comparisons
Measure
Alpena
Alpena County
Michigan
United States
Rental vacancy
Unreliable estimate
Unreliable estimate
5.1%
5.5%
Homeowner vacancy
Unreliable estimate
Unreliable estimate
0.8%
0.9%
More than one person per room
Unreliable estimate
Unreliable estimate
1.6%
3.4%
People per household
1.93
2.17
2.42
2.53
Drive alone
78%
77%
74%
69%
Carpool
7%
7%
8%
9%
Public transit
Unreliable estimate
Unreliable estimate
1%
3%
Walk or bike
Unreliable estimate
3%
2%
3%
Work from home
Unreliable estimate
8%
14%
15%
Other means
5%
4%
1%
2%
Typical commute
Unreliable estimate
10 to 19 minutes
20 to 29 minutes
20 to 29 minutes
Households in Alpena are smaller: 1.93 people on average; in Alpena County, 2.17.
To get to work, 78% of workers in Alpena drive alone; in Alpena County, 77%.
Do the math
What would you pay each month for a home in Alpena?
A typical home is within reach of the typical income
We start with a typical home in Alpena, worth $118,700, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 26% of the typical household income in Alpena, which is $47,545 a year.
The calculator's FHA and conventional loan limits are those of all of Alpena County.
Change the price, the down payment or the loan: the payment updates right away.
Your numbers
Local data
$
Starts at the typical home value in Alpena. Change it to the price you have in mind.
Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.
Down payment
%
That is $4,155 (3.5% of the price). The usual minimum for this loan is 3.5%.
This week's average ± a quarter or half point.
National average as of November 5, 2026 (Freddie Mac); your rate may be different.
Adjust advanced details⌄
Estimated monthly payment
Local data
$1,038
at 7.18% · 30 years
Loan amount
$116,550
Total interest
$167,687
Paid off in
November 2056
Includes $2,005 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $1,109 a month
Your payment · 26%
Tight
$1,109 to $1,426 a month
Hard
more than $1,426 a month
Compared with the typical household income in Alpena ($47,545 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$790
Property tax
$146
Home insurance
$50
FHA mortgage insurance (MIP)
$52
You need at least $4,155 for the down payment, plus closing costs.
This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.
Total monthly payment $1,038; principal and interest $790.
The city and its county
Alpena and Alpena County
Alpena is in Alpena County, Michigan. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).
Alpena
Map of Alpena County, Michigan, with Alpena marked. Around it, the neighboring counties.
Alpena
Alpena County
Alpena's own numbers
Typical home value
$118,700
Typical monthly rent
$625
Typical yearly household income
$47,545
Households that own their home
66%
Effective property tax rate
1.48%
U.S. Census Bureau, American Community Survey (average 2020–2024).
Numbers for all of Alpena County
FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,014
Price change over 5 years (FHFA)
+67%
Homes in a high flood-risk zone
3.9%
HUD, FHFA and FEMA don't publish these numbers by city.
Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Alpena County.
A typical home in Alpena is worth $118,700: 23% below the county and 49% below Michigan. With the typical household income in Alpena ($47,545 a year), a typical home costs 2.5 times what the household earns in a year.
Years of income to pay for a typical home
The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.
Alpena2.5 years
County2.9 years
Michigan3.2 years
United States4.1 years
Source: U.S. Census Bureau, Average 2020–2024
How prices have changed in Alpena County
According to FHFA’s house price index, home prices in Alpena County rose 101% in the 10 years through 2025.
FHFA does not publish this index by city: these are the numbers for all of Alpena County.
Yearly change in FHFA’s price index in Alpena County, 2016 to 2025
2016: +3.9% +3.9% 2016
2017: +3.3% +3.3% 2017
2018: +2.8% +2.8% 2018
2019: +5.6% +5.6% 2019
2020: +3.4% +3.4% 2020
2021: +13.9% +13.9% 2021
2022: +23.3% +23.3% 2022
2023: +5.2% +5.2% 2023
2024: +13.6% +13.6% 2024
2025: −0.6% −0.6% 2025
Change in FHFA’s price index in Alpena County, Michigan and the United States
Period
County
Michigan
U.S.
Last year (2025)
−0.6%
+4.7%
+2.9%
5 years (2020–2025)
+67%
+52%
+47%
10 years (2015–2025)
+101%
+97%
+85%
The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data
Alpena next to Alpena County, Michigan and the U.S.
Three numbers side by side. “Typical” means the median: half are above it and half below.
Typical home value
Alpena$118,700
County$153,900
Michigan$231,600
United States$332,700
Typical monthly rent
Alpena$625
County$673
Michigan$1,129
United States$1,413
Typical yearly household income
Alpena$47,545
County$53,950
Michigan$72,875
United States$80,734
See the full table
Alpena next to Alpena County and Michigan
Measure
Alpena
Alpena County
Michigan
U.S.
Typical home value
$118,700 ▼23% below the county
$153,900
$231,600
$332,700
Typical monthly rent
$625 ▼7% below the county
$673
$1,129
$1,413
Typical yearly household income
$47,545 ▼12% below the county
$53,950
$72,875
$80,734
Households that own their home
66% ▼14 points below the county
80%
73%
65%
Typical yearly property tax
$1,754 ▲7% above the county
$1,639
$2,904
$3,119
Effective property tax rate
1.48% ▲0.42 points above the county
1.06%
1.25%
0.94%
Renters with high rent for their income
51% ▼1 points below the county
51%
50%
51%
“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Alpena County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.
Four ways to pay for a typical home in Alpena
For a typical $118,700 home in Alpena, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Alpena's typical property tax, an example home insurance and mortgage insurance when it applies.
FHA, 3.5% down$1,038a month
Least cash to close
Down payment
$4,155
Cash to close
$7,716
Rate
7.18%
Mortgage insurance
FHA MIP · $53
Conventional, 5% down$1,016a month
Down payment
$5,935
Cash to close
$9,496
Rate
7.18%
Mortgage insurance
PMI · $56
Conventional, 20% down, no PMI$839a month
Down payment
$23,740
Cash to close
$27,301
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$949a month
Down payment
$17,805
Cash to close
$21,366
Rate
8.18%
Mortgage insurance
None
Four ways to pay for a typical home in Alpena
Loan
Monthly payment
Down payment
Loan amount
Rate
Mortgage insurance
Cash to close
Minimum score
FHA, 3.5% down Least cash to close
$1,038
$4,155
$116,550
7.18%
FHA MIP · $53
$7,716
580
Conventional, 5% down
$1,016
$5,935
$112,765
7.18%
PMI · $56
$9,496
620*
Conventional, 20% down, no PMI
$839
$23,740
$94,960
7.18%
None
$27,301
620*
ITIN, 15% down (example)
$949
$17,805
$100,895
8.18%
None
$21,366
Set by the lender
The option that asks for the least cash to close is FHA, 3.5% down.
Cash to close = down payment plus 3% of the price in closing costs (example).
Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.
Typical rent in Alpena is $625 a month: 7% below the county. In Alpena, 51% of renter households pay 30% or more of their income in rent.
HUD publishes a fair market rent for all of Alpena County, by unit size. To pay the 2-bedroom one ($1,014 a month) without spending more than 30% of your income, you would need to earn $19.50 an hour working full time.
What you need to earn to pay it without spending more than 30% of income, working full time.
HUD fair market rent in Alpena County (Fiscal year 2027)
Size
Fair rent a month
Hourly wage
Yearly income
Studio
$723
$13.90
$28,920
1 bedroom
$775
$14.90
$31,000
2 bedrooms
$1,014
$19.50
$40,560
3 bedrooms
$1,247
$23.98
$49,880
4 bedrooms
$1,695
$32.60
$67,800
Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027
By ZIP code
Fair market rent by ZIP code in Alpena
HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Alpena is in ZIP code 49707.
For 2 bedrooms it is $1,010: $4 less than the fair market rent for Alpena County ($1,014).
Fair market rent by ZIP code and size in Alpena, fiscal year 2027.
ZIP code
Studio
1 bd
2 bd
3 bd
4 bd
49707
$720
$780
$1,010
$1,250
$1,700
ZIP code2 bd3 bd
49707 $1,010$1,250
1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Alpena when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD)Fiscal year 2027Small Area Fair Market Rents (HUD) (external site)Source: Census Bureau ZCTA-to-place relationship fileData from 2020 dataCensus Bureau ZCTA-to-place relationship file (external site)
HUD lists 6 buildings with rents for lower incomes in Alpena. These are the largest.
Riverview Apts.315 River St, Alpena 49707195 low-income homes · Run by Alpena Housing Commission · Average payment: $384 a month · Average wait: 7 months(989) 354-3567
JPS Pinecrest491 Pine Meadow Ln, Alpena 49707180 homes, 179 low-income · 1 bd: 111 · 2 bd: 69 · In service since 2013
Birchwood Meadows2550 Grant St, Alpena 49707112 low-income homes · 1 bd: 62 · 2 bd: 38 · 3 bd: 12 · In service since 2011 · For older adults, families(989) 356-1222
Luther Community Manor210 Wilson St, Alpena 4970766 homes, 65 low-income · For older adults(989) 356-6725
W. B . Apartments L.L.C.2026 N Bagley St, Alpena 4970788 homes, 40 low-income · For families(989) 354-2023
You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.
There is 1 HUD-approved agency with an office in Alpena County; none says it serves in Spanish.
No down payment, repair or rent-help program on our list is for Alpena or Alpena County. The ones below are statewide in Michigan: they work in Alpena the same as in the rest of the state.
Michigan state agency loan of up to $10,000, with no interest and no monthly payments, for the down payment, closing costs and prepaid expenses; it goes with MSHDA's MI Home Loan mortgage and is repaid in certain cases, such as when you pay off the first mortgage, sell or refinance the home, or no longer live in it.Offered by Michigan State Housing Development Authority (MSHDA).
Michigan state authority certificate that lets you take 20% of the interest you pay each year on your mortgage off your federal taxes, for the life of the loan; you apply with an approved lender before you buy.Offered by Michigan State Housing Development Authority (MSHDA).
No legal help resource on our list is for Alpena or Alpena County in particular.
If you have a problem with your landlord, an eviction notice or a scam, the Legal Services Corporation (LSC) search shows the free legal aid offices that serve your area.
Short answers with the numbers for Alpena and all of Alpena County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.
How much does a typical home cost in Alpena?
The typical home value in Alpena is $118,700, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Alpena County it is $153,900.
How much does it cost to rent in Alpena?
Typical rent in Alpena is $625 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Alpena County is $1,014.
What is the FHA loan limit in Alpena?
Alpena uses the FHA limit for all of Alpena County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.
How much property tax do owners pay in Alpena?
The typical homeowner in Alpena pays $1,754 a year, according to the U.S. Census Bureau. That is 1.48% of the home’s value; in Alpena County, the rate is 1.06%.
Where can I find free help to buy or rent in Alpena?
There is 1 HUD-approved counseling agency with an office in Alpena County. They can help you get ready to buy, with your credit, or with rent.
