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Albion city, MI

ZIP 49224 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Working ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 49224

Median Home Value
$119,800
Median Rent
$623
Affordability Snapshot
$33,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$770/mo PITI).

14%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

2.3x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

16.0 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 49224 in Albion city, MI, a household would need roughly $33,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $770. That sits below the local median household income ($52,552), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Vacancy rate 17% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
71.9%+10% vs US avg
x
Vacancy Rate
17.2%+67% vs US avg
x
Broadband Access
86.2%-1% vs US avg
x
4+ Bedrooms
4.8%-68% vs US avg
x
Built Pre-1939
5.9%-54% vs US avg
x
Built Post-2014
0.4%-94% vs US avg
x
Rent Burden >30%
26.1%-47% vs US avg
x
Mortgage-Free
49.4%+29% vs US avg
x
$119,800
Home Value
$623
Rent
1954
Year Built
2011
Moved In

Residents have lived here since ~2011 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached77.2%
  • 1-unit attached0.1%
  • 2-9 units10.8%
  • 10+ units3.9%
  • Mobile home & other8.1%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$119,800
Median rent$623
Owner-occupied71.9%
Vacant17.2%
Price-to-income2.3x
Est. income to buy$33,000