salaryRent is lower than in 90% of U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards.
How much money do I need?
To rent here comfortably, you should earn about $38,720 a year. That is $19 an hour at a full-time job.
Is rent cheaper than other Michigan cities?
Yes. Rent here is cheaper than in most of Michigan. It is number 30 of 179 cities from cheapest to most expensive.
How much do households earn in Albion?
Share of households by yearly income. 10.1% of households earn $100,000 or more.
Rent by apartment size in Albion
| Size | Albion | U.S. average |
|---|---|---|
| Studio | $481 | $1,338 |
| 1 bedroom | $568 | $1,324 |
| 2 bedrooms | $837 | $1,509 |
| 3 bedrooms | $1,176 | $1,698 |
| 4 bedrooms | $989 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Albion overall?
Everyday prices in Michigan overall are 4% below the U.S. average (index 96.2, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Albion, so the Michigan figure is shown.
Taxes and bills in Albion
Life in Albion
Is it cheaper to rent or buy in Albion?
Buying is cheaper month to month: about $275 a month less than renting.
Owning assumes a typical $99,900 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $9,990 for the down payment.
Frequently asked questions
What is the average rent in Albion, MI?
Renting in Albion costs a median of about $968 a month in 2026, including utilities. The Michigan median is $1,314.
How much do I need to make to live in Albion?
To keep rent under 30% of income, you need about $38,720 a year, or $19 an hour at a full-time job.
Is Albion cheap or expensive?
Albion is rated OK: rent takes 27.0% of the typical household income of $43,016. It ranks 30th cheapest of 179 Michigan cities we track.
How much are property taxes in Albion?
The median homeowner in Albion pays $1,336 a year in property taxes, about 1.34% of the median home value.
Is Albion more expensive than the national average?
Overall prices in Michigan are 4% below the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Albion?
The median home value in Albion is $99,900, about 2.3 times the typical yearly household income.
7,560 people live in Albion. Numbers are typical (middle) values.