1st Advantage MortgageAlcona County households have a median income of $54,993 and median rent of $867 a month (ACS 2020 to 2024). A loan makes sense only if its total cost beats your alternatives and the payment fits your budget. Check the lender's Michigan license first.
On this page
- Alcona County at a glance
- Alcona County housing compared with Michigan
- What Alcona County households earn
- How Alcona County residents earn a living
- Towns and communities in Alcona County
- Alcona County and the counties next door
- Debt-to-income at Alcona County's medians
- Reading the Alcona County data as a borrower
- More Alcona County figures
- Checking a lender's license in Michigan
- Four steps for Alcona County borrowers
- Related local guides
- Frequently asked questions
Alcona County at a glance
The latest five-year Census estimate puts Alcona County's population at 10,397; only 74 of Michigan's 83 county-level areas are larger. It covers 675 square miles of land, or about 15 people per square mile. No metropolitan area includes Alcona County in the 2023 federal delineation, so its numbers stand on their own rather than as part of a metro. The Census Bureau counts 4 places in the county (2 incorporated, 2 census-designated); the largest is Hubbard Lake, with about 944 residents, or 9% of the county.
Alcona County housing compared with Michigan
Median gross rent, utilities included, comes to $867 in Alcona County versus $1,129 statewide. 52% of renting households spend 30% or more of income on rent, and 18% spend half or more. Home values center on $162,800, or 3.0 years of median income. 90% of Alcona County households own their home and 10% rent.
| Housing | Alcona County | Michigan statewide | Typical U.S. county |
|---|---|---|---|
| Median gross rent | $867/mo | $1,129/mo | $877/mo |
| Median home value | $162,800 | $231,600 | $185,300 |
| Owners | 90% | 73% | 75% |
| Rent-burdened renters | 52% | 50% | 45% |
| Burdened owners | 25% | 23% | n/a |
| Mobile homes | 9.3% | 5.0% | n/a |
In an owner-heavy county like Alcona County, many borrowers can also choose a home equity loan or line of credit. Those can price lower but put the house on the line, so compare the two in writing; our personal loan vs. HELOC guide walks through it. High rent burdens leave little slack. If you are borrowing to consolidate, make sure the new payment is lower than the ones it replaces.
What Alcona County households earn
The median household income in Alcona County is $54,993; statewide it is $72,875, so Alcona County runs 25% below Michigan as a whole. That places it 72nd among Michigan's 83 county-level areas.
| Income band | Share in Alcona County | Difference from Michigan |
|---|---|---|
| Under $35,000 | 28.4% | +5.3 pts |
| $35,000 to $99,999 | 49.0% | +7.6 pts |
| $100,000 to $199,999 | 19.0% | -6.9 pts |
| $200,000 or more | 3.5% | -6.0 pts |
Some 28% of households here live on less than $35,000 a year; 23% have six-figure incomes. 12.3% of residents fall below the federal poverty line (statewide: 13.2%). The Gini index of income inequality is 0.437 (0 is perfect equality). Income from any regular source can count, including Social Security, pensions and disability benefits, as long as you can document it.
How Alcona County residents earn a living
The biggest employer of Alcona County residents, by industry, is education and health care at 21% of workers, followed by manufacturing (15%). The sharpest difference from the state is in transportation, warehousing and utilities, at 10% locally and 5% for Michigan. The survey's unemployment rate for Alcona County averages 4.5% over 2020 to 2024 (state: 5.7%). About 75% drive to work alone and 16% have trips of 45 minutes or more. Only 3.5% of homes here go without a vehicle.
| Sector | Alcona County | Compared with Michigan |
|---|---|---|
| Education and health care | 20.6% | -2.8 pts |
| Manufacturing | 15.3% | -3.0 pts |
| Transportation, warehousing and utilities | 9.7% | +4.8 pts |
| Retail trade | 8.8% | -2.0 pts |
| Arts, lodging and food service | 7.8% | -0.7 pts |
| Public administration | 7.6% | +4.0 pts |
A lender verifies what your own job pays. The county's industry mix tells you about the local economy, not about your application.
Towns and communities in Alcona County
The table lists the 4 largest of 4 Census places in Alcona County, by population. Together all 4 hold about 2,116 people, so roughly 80% of residents live outside any named place. None of the 4 has its own city guide, so this page covers all of them.
| Name | Kind | Pop. | Income | Rent | Miles |
|---|---|---|---|---|---|
| Hubbard Lake | CDP | 944 | $70,568 | n/a | 17 mi |
| Harrisville | city | 489 | $36,050 | $698 | 0 mi |
| Lost Lake Woods | CDP | 458 | $71,806 | n/a | 12 mi |
| Lincoln | village | 225 | $37,679 | $732 | 6 mi |
Alcona County and the counties next door
Alpena County is closest, 18 miles from center to center; the sixth, Montmorency County, is 48 miles off. Income ranges from $49,515 in Oscoda County to $59,321 in Presque Isle County; 1 of these neighbors top Alcona County's median.
| County | Distance | Median income | Median rent | Owners |
|---|---|---|---|---|
| Alcona County | - | $54,993 | $867/mo | 90% |
| Alpena County, MI | 18 mi | $53,950 | $673/mo | 80% |
| Iosco County, MI | 19 mi | $50,066 | $719/mo | 82% |
| Oscoda County, MI | 41 mi | $49,515 | $681/mo | 87% |
| Presque Isle County, MI | 42 mi | $59,321 | $683/mo | 89% |
| Ogemaw County, MI | 47 mi | $54,666 | $823/mo | 84% |
| Montmorency County, MI | 48 mi | $49,756 | $686/mo | 88% |
Debt-to-income at Alcona County's medians
Lenders compare monthly debt payments with gross monthly income, the debt-to-income ratio. For a Alcona County household at the medians it works out like this; treat it as an illustration only.
- Median income divided by twelve: $4,583 before taxes
- Less median rent of $867, which is 19% of it
- Under a 36% cap, $1,650 total minus rent leaves $783
Subtract what you already pay on other debts. A new payment should fit in what remains, with some to spare.
Reading the Alcona County data as a borrower
Based on the Alcona County data above, these borrowing questions are most likely to matter locally.
- Benefit income. With half of residents older than 60, lenders often see pension and Social Security income, which counts like wages.
- Rent squeeze. 52% of renters spend 30%+ of income on rent; borrow only if the loan cuts what you pay overall.
- Getting ready. Gather pay stubs or benefit letters before you apply (checklist).
More Alcona County figures
College graduates make up 21% of the adult population. About 4% go without health insurance.
| Measure | Alcona County | Michigan statewide | Typical U.S. county |
|---|---|---|---|
| Median age | 60.0 | 40.2 | 41.5 |
| Bachelor's or higher | 21.4% | 32.4% | 22.2% |
| No high school diploma | 7.1% | 7.9% | n/a |
| No health insurance | 3.9% | 4.9% | 7.8% |
| No vehicle | 3.5% | 7.0% | 5.4% |
| Work from home | 10.9% | 13.5% | 8.7% |
| Poverty rate | 12.3% | 13.2% | 13.2% |
| Unemployment (ACS) | 4.5% | 5.7% | 4.4% |
| Trip time | Share |
|---|---|
| Under 15 min | 31.3% |
| 15 to 29 min | 29.6% |
| 30 to 44 min | 23.6% |
| 45 to 59 min | 8.8% |
| 60+ min | 6.7% |
Checking a lender's license in Michigan
Licensing happens at the state level, so a lender working with Alcona County borrowers answers to the Michigan Department of Insurance and Financial Services. The Consumer Financial Protection Bureau accepts complaints nationwide. See the Michigan state guide for the statewide picture.
Four steps for Alcona County borrowers
A short checklist for Alcona County borrowers:
- Size the loan to the bill, not to the most a lender offers.
- Compare the total repaid on every offer, not just the payment.
- Check the license, then the reviews, then the offer.
- Read the final agreement; it must match the offer.
Related local guides
The Michigan guide covers the whole state.
Frequently asked questions
What is the median household income in Alcona County?
$54,993 a year in the 2020 to 2024 Census survey, versus $72,875 for Michigan. It ranks 72nd of 83 in the state.
How much is rent in Alcona County?
Median gross rent, utilities included, is $867 a month; 52% of renters spend 30% or more of income on it.
I live in a small Alcona County town. Is this my guide?
Yes. If your town has no city guide, this county page is the local one; it covers Hubbard Lake, Harrisville, Lost Lake Woods, Lincoln.
Are Alcona County applicants treated differently?
No. Everyone answers the same questions and is screened on the same objective points; lending partners set their own criteria under fair-lending laws.
Who regulates personal lenders for Alcona County residents?
The Michigan Department of Insurance and Financial Services licenses consumer lenders in Michigan; the CFPB takes complaints about any lender, and the FTC wants to hear about fee-first offers.