Alpena, MI housing market
Homes typically sell in 27 days, close to asking.
Home values, sales, trends and how Alpena compares with the towns next door — updated as new data is published.
Alpena at a glance
A seller's market
Supply is tight — about 2.6 months of homes for sale at the current pace. Buyers should expect competition on well-priced homes.
Home prices up 68% in 5 years
The federal house price index for the ZIP code around Alpena rose 68% over the past 5 years, faster than across Michigan (52%). Prices were about flat last year. Carrying the Census median home value forward with that index puts the typical Alpena home at roughly $220,000 today.
Show as a table
| Year | Change that year | Since 2000 | Michigan since 2000 |
|---|---|---|---|
| 2025 | −0.2% | +95% | +97% |
| 2024 | +13% | +95% | +88% |
| 2023 | +8.5% | +74% | +76% |
| 2022 | +19% | +60% | +64% |
| 2021 | +16% | +34% | +45% |
| 2020 | +3.1% | +16% | +30% |
| 2019 | +7.4% | +13% | +26% |
| 2018 | 0% | +5% | +20% |
| 2017 | +3.4% | +4.9% | +12% |
| 2016 | +4.9% | +1.5% | +5.3% |
| 2015 | +2.8% | −3.3% | 0% |
| 2014 | +1.7% | −6% | −4.7% |
| 2013 | +0.8% | −7.6% | −12% |
| 2012 | −1.4% | −8.3% | −16% |
| 2011 | −8.7% | −7% | −16% |
| 2010 | −4.7% | +1.9% | −12% |
| 2009 | −7% | +6.9% | −5% |
| 2008 | −2.2% | +15% | +3.5% |
| 2007 | −1.2% | +18% | +11% |
| 2006 | +1% | +19% | +16% |
| 2005 | +1.5% | +18% | +18% |
| 2004 | +4.5% | +16% | +14% |
| 2003 | +3.3% | +11% | +10% |
| 2002 | +2.2% | +7.5% | +8.3% |
| 2001 | +5.2% | +5.2% | +5% |
| 2000 | — | — | — |
How Alpena ranks on rising home prices →
Federal Housing Finance Agency House Price Index (annual, developmental) for ZIP code 49707, weighted by land area. It tracks repeat sales and appraisals of the same homes, so it shows how prices changed, not what homes cost. The estimated value scales the Census (ACS 2020-2024) median home value by that change.
41 new homes permitted in 2025
Builders were permitted 41 new homes in Alpena in 2025: 7 single-family houses and 34 in buildings with two or more homes, worth about $3.4 million to build. That's 4 per 1,000 residents, faster than across Michigan (2.3). Over the past 10 years, Alpena has permitted 76 homes in all.
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Alpena's population fell by 286 even though 37 new homes were permitted. Homes are holding fewer people: households are getting smaller, or more homes are used part of the year. Across Michigan: 1.2 new residents per new home.
Residents: U.S. Census Bureau, 2010 and 2020 censuses. New homes: permits issued 2010–2019.
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 14 | 4 | 10 | $1.4 million |
| 2025 | 41 | 7 | 34 | $3.4 million |
| 2024 | 0 | 0 | 0 | — |
| 2023 | 3 | 3 | 0 | $680,000 |
| 2022 | 0 | 0 | 0 | — |
| 2021 | 2 | 2 | 0 | $360,000 |
| 2020 | 8 | 2 | 6 | $1.6 million |
| 2019 | 7 | 2 | 5 | $1.5 million |
| 2018 | 2 | 2 | 0 | $937,000 |
| 2017 | 3 | 3 | 0 | $470,000 |
| 2016 | 10 | 2 | 8 | $1.3 million |
| 2015 | 0 | 0 | 0 | — |
| 2014 | 6 | 1 | 5 | $1.1 million |
| 2013 | 5 | 1 | 4 | $915,000 |
| 2012 | 4 | 4 | 0 | $785,000 |
| 2011 | 0 | 0 | 0 | — |
| 2010 | 0 | 0 | 0 | — |
| 2009 | 0 | 0 | 0 | — |
| 2008 | 7 | 0 | 7 | $936,000 |
| 2007 | 50 | 2 | 48 | $2.8 million |
| 2006 | 5 | 3 | 2 | $650,000 |
| 2005 | 4 | 2 | 2 | $510,000 |
| 2004 | 9 | 9 | 0 | $1.1 million |
| 2003 | 7 | 7 | 0 | $1.1 million |
| 2002 | 5 | 5 | 0 | $348,000 |
| 2001 | 3 | 3 | 0 | $315,000 |
| 2000 | 9 | 9 | 0 | $917,000 |
How Alpena ranks on new homes being built →
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
2.5 years of income
The typical Alpena home costs about 2.5 years of the town's median household income, less than across Michigan (3.7 years).
How Alpena ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $970
HUD's Fair Market Rent for a two-bedroom in Alpena is $970 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Alpena pay a median of $625, so moving in tends to cost more than staying put. A two-bedroom takes about 24% of the town's median household income.
Studio $690 · 4 bedrooms $1,640
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (49707; Alpena County, MI), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Recent listings in Alpena
Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.