Cost of Living in Alma, MI: Rent, Income & Home Prices

CheapRent takes 19 cents of every $1 people earn here.

🏠 Rent per month (2026)$90548% lower than U.S. average

💵 Families earn per year (2026)$57,492about $4,791/month · 34% lower than U.S. average

🔑 House price$115,90065% lower than U.S. average

Rent here is among the lowest 10% of all U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards. Commutes are short, about 19.4 minutes.

How much money do I need?

To rent here comfortably, you should earn about $36,200 a year. That is $17 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 17 of 179 cities from cheapest to most expensive.

Alma

$905

$1,684

$1,839

$1,592

$1,234

$1,761

$1,799

How much do households earn in Alma?

Under $25k

21.5%

$25k–50k

29.3%

$50k–100k

28.3%

$100k–150k

13.7%

$150k+

2.5%

Share of households by yearly income. 16.1% of households earn $100,000 or more.

Rent by apartment size in Alma

Size	Alma	U.S. average
1 bedroom	$512	$1,324
2 bedrooms	$980	$1,509

Median monthly rent plus utilities for all renters, by number of bedrooms.

How expensive is Alma overall?

Everyday prices in Michigan overall are 4% below the U.S. average (index 96.2, U.S. = 100).

Housing

Goods (food, clothes…)

Utilities

100

Other services

101

U.S. average

100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Alma, so the Michigan figure is shown.

Taxes and bills in Alma

🏛️ Property tax$1,991a year · 1.72% of home value · U.S. $3,119

⚡ Electric bill$163a month (typical) · U.S. $156

Life in Alma

Commute to work19.4 minU.S.: 26.4 min

College degree28%U.S.: 35.7%

Own their home65.9%U.S.: 65.2%

Below poverty line21.7%U.S.: 12.5%

Unemployment6.9%U.S.: 5.2%

Is it cheaper to rent or buy in Alma?

Buying is cheaper month to month: about $101 a month less than renting.

Renting

$905

Owning

$804

Owning assumes a typical $115,900 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $11,590 for the down payment.

Frequently asked questions

What is the average rent in Alma, MI?

Renting in Alma costs a median of about $905 a month in 2026, including utilities. The Michigan median is $1,314.

How much do I need to make to live in Alma?

To keep rent under 30% of income, you need about $36,200 a year, or $17 an hour at a full-time job.

Is Alma cheap or expensive?

Alma is rated Cheap: rent takes 18.9% of the typical household income of $57,492. It ranks 17th cheapest of 179 Michigan cities we track.

How much are property taxes in Alma?

The median homeowner in Alma pays $1,991 a year in property taxes, about 1.72% of the median home value.

Is Alma 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 Alma?

The median home value in Alma is $115,900, about 2.0 times the typical yearly household income.

9,396 people live in Alma. Numbers are typical (middle) values.

Is Alma, MI expensive to live in?