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Allen Park

Learn about the people, housing, costs and businesses in Allen Park, Michigan

Median Home$188,712
Median Rent$1,127/month
Population27,925
Leading IndustriesRetail · Public Administration · Education16% retail
Home Value Growth⬆⬆+17.4% over 2 years
Young Adults25% of residents
Homeowners87% of occupied units
NotableAmenity Score69/100 · highly walkable area
Allen Park
MI

Frequently Asked Questions

What are today's mortgage rates in Allen Park?

As of today, the 30-year fixed mortgage rate for Allen Park is approximately 6.983% (7.025% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Allen Park?

The median home value in Allen Park is $189k. The median monthly rent is $1,127. Annual property taxes average $3k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Allen Park?

Home values in Allen Park have increased 17.4% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Allen Park?

Based on a typical all-in ownership cost of $1,136/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $49k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Allen Park is $84k/year.

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What industries drive the economy in Allen Park?

The largest employment sectors in Allen Park are public administration (26%) and retail (16%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.