Alma, MI home prices
Typical home $180,220 · +6.2% in a year · income needed $53,400
The Alma, MI metro area ranks 717 of 894 U.S. metros for home values (U.S. typical home: $366,157). Prices changed +6.2% in a year and +13.6% over five years. With 20% down at 7.11%, the typical home costs about $1,246 a month including 1.24% property tax (Gratiot County rate).
Mortgage on the typical Alma home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $36,044 | $144,176 | $970 | $0 | $276 | $1,246 | $53,400 |
| 10% down | $18,022 | $162,198 | $1,091 | $68 | $276 | $1,435 | $61,500 |
| 5% down | $9,011 | $171,209 | $1,152 | $71 | $276 | $1,499 | $64,200 |
| 3.5% down (FHA) | $6,308 | $176,955 | $1,190 | $80 | $276 | $1,546 | $66,300 |
Assumes a 30-year fixed loan at 7.11%, property tax of 1.24% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Counties in the Alma area
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Gratiot County, MI | $180,252 | +6.2% | 1.24% |
What can you afford in Michigan on your salary? · Michigan home prices · Salaries in Michigan
Frequently asked questions
How much is a house in Alma?
The typical home in the Alma, MI metro area is worth $180,220 (Zillow, September 2026).
What salary do you need to buy a house in Alma?
About $53,400 a year for the typical home with 20% down at 7.11%.