Alpena, MI home prices
Typical home $193,139 · +8.5% in a year · income needed $56,000
The Alpena, MI metro area ranks 666 of 894 U.S. metros for home values (U.S. typical home: $366,157). Prices changed +8.5% in a year and +31.9% over five years. With 20% down at 7.11%, the typical home costs about $1,307 a month including 1.06% property tax (Alpena County rate).
Mortgage on the typical Alpena home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $38,628 | $154,511 | $1,039 | $0 | $268 | $1,307 | $56,000 |
| 10% down | $19,314 | $173,825 | $1,169 | $72 | $268 | $1,510 | $64,700 |
| 5% down | $9,657 | $183,482 | $1,234 | $76 | $268 | $1,579 | $67,700 |
| 3.5% down (FHA) | $6,760 | $189,641 | $1,276 | $85 | $268 | $1,629 | $69,800 |
Assumes a 30-year fixed loan at 7.11%, property tax of 1.06% 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 Alpena area
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Alpena County, MI | $193,096 | +8.5% | 1.06% |
What can you afford in Michigan on your salary? · Michigan home prices · Salaries in Michigan
Frequently asked questions
How much is a house in Alpena?
The typical home in the Alpena, MI metro area is worth $193,139 (Zillow, September 2026).
What salary do you need to buy a house in Alpena?
About $56,000 a year for the typical home with 20% down at 7.11%.