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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.



Algoma, WI 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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

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

Algoma, WI Housing Market Trends

With 3,213 people, 1,343 houses or apartments, and a median cost of homes of $181,285, house prices in Algoma are solidly below the national average.

Single-family detached homes are the single most common housing type in Algoma, accounting for 68.82% of the city's housing units. Other types of housing that are prevalent in Algoma include large apartment complexes or high rise apartments ( 13.84%), duplexes, homes converted to apartments or other small apartment buildings ( 10.65%), and a few row houses and other attached homes ( 3.76%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Algoma. Owner-occupied housing accounts for 79.12% of Algoma's homes, and 62.30% 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. Algoma's housing was primarily built during this period, from the '40s through the '60s. A full 40.39% of the city's housing hails from this era. Other housing ages represented in Algoma include homes built between 1970-1999 ( 29.05%) and housing constructed before 1939 ( 24.67%). There's also some housing in Algoma built between 2000 and later ( 5.89%).

Vacant housing appears to be an issue in Algoma. Fully 15.90% of the housing stock is classified as vacant. Left unchecked, vacant Algoma homes and apartments can be a drag on the real estate market, holding Algoma real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Algoma Home Appreciation Rates

Appreciation rates for homes in Algoma have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 90.70%, which ranks in the top 40% nationwide. This equates to an annual average Algoma house appreciation rate of 6.67%.

Appreciation rates are so strong in Algoma that despite a nationwide downturn in the housing market, Algoma real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Algoma appreciation rates continue to be some of the highest in America, at 10.09%, which is higher than appreciation rates in 95.10% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Algoma. Algoma appreciation rates in the latest quarter were at 0.67%, which equates to an annual appreciation rate of 2.71%.

Relative to Wisconsin, our data show that Algoma's latest annual appreciation rate is higher than 80% of the other cities and towns in Wisconsin.

Average Home Values

Median Home Value

$181,285

Algoma, WI Home Prices
> $1,392,000
$1,044,001 - $1,392,000
$696,001 - $1,044,000
$557,001 - $696,000
$418,001 - $557,000
$278,001 - $418,000
$139,001 - $278,000
$70,001 - $139,000
$0 - $70,000
0.0%
0.0%
0.0%
0.0%
0.2%
0.2%
3.0%
3.0%
1.5%
1.5%
13.5%
13.5%
50.7%
50.7%
26.3%
26.3%
4.7%
4.7%
0% 100.0%
% of Homes
Very Low

for Wisconsin

Low

for nation

Number of Homes And Apartments:

1,343

Algoma Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,148 / per month

Homeownership Rate

Owners
Renters
79.1%
79.1%
20.9%
20.9%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
15.9%
15.9%
84.1%
84.1%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
5.9%
5.9%
29.1%
29.1%
40.4%
40.4%
24.7%
24.7%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
68.8%
68.8%
3.8%
3.8%
10.6%
10.6%
13.8%
13.8%
2.9%
2.9%
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
2.5%
2.5%
9.8%
9.8%
22.4%
22.4%
49.7%
49.7%
12.6%
12.6%
3.0%
3.0%
0% 100.0%
% of Homes

Popular Neighborhoods in Algoma

Zip Codes in Algoma, WI