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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Allen Park, MI Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q3 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2021 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Allen Park, MI Housing Market Trends

With a population of 28,040, 11,796 total housing units (homes and apartments), and a median house value of $197,829, house prices in Allen Park are solidly below the national average.

Single-family detached homes are the single most common housing type in Allen Park, accounting for 91.76% of the city's housing units. Other types of housing that are prevalent in Allen Park include large apartment complexes or high rise apartments ( 5.19%), duplexes, homes converted to apartments or other small apartment buildings ( 2.11%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Allen Park. Owner-occupied housing accounts for 85.55% of Allen Park's homes, and 79.56% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Allen Park's housing was primarily built during this period, from the '40s through the '60s. A full 86.52% of the city's housing hails from this era. Other housing ages represented in Allen Park include homes built between 1970-1999 ( 7.12%) and housing constructed before 1939 ( 5.54%).

Allen Park Home Appreciation Rates

Appreciation rates for homes in Allen Park have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 105.33%, which ranks in the top 30% nationwide. This equates to an annual average Allen Park house appreciation rate of 7.46%.

Over the last year, Allen Park appreciation rates have trailed the rest of the nation. In the last twelve months, Allen Park's appreciation rate has been 2.55%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Allen Park were at 4.69%, which equates to an annual appreciation rate of 20.12%.

Importantly, this makes Allen Park one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Michigan, our data show that Allen Park's latest annual appreciation rate is lower than 70% of the other cities and towns in Michigan.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Allen Park differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Allen Park - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Allen Park real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$197,829

Allen Park, MI Home Prices
> $1,358,000
$1,019,001 - $1,358,000
$679,001 - $1,019,000
$543,001 - $679,000
$408,001 - $543,000
$271,001 - $408,000
$136,001 - $271,000
$68,001 - $136,000
$0 - $68,000
0.0%
0.0%
0.3%
0.3%
0.1%
0.1%
0.2%
0.2%
2.0%
2.0%
12.9%
12.9%
70.1%
70.1%
12.8%
12.8%
1.6%
1.6%
0% 100.0%
% of Homes
Average

for Michigan

Low

for nation

Number of Homes And Apartments:

11,796

Allen Park Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,677 / per month

Homeownership Rate

Owners
Renters
Vacant
85.6%
85.6%
14.4%
14.4%
4.6%
4.6%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
0.8%
0.8%
7.1%
7.1%
86.5%
86.5%
5.5%
5.5%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
91.8%
91.8%
0.7%
0.7%
2.1%
2.1%
5.2%
5.2%
0.2%
0.2%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.4%
0.4%
3.7%
3.7%
14.9%
14.9%
70.0%
70.0%
9.5%
9.5%
1.4%
1.4%
0% 100.0%
% of Homes