1st Advantage MortgageThe median Alger County household earns $61,286, and 10% of residents live below the poverty line. 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
- Alger County, MI: the basics
- Household income in Alger County
- Renting and owning in Alger County
- The Alger County job picture
- Places inside Alger County
- Neighboring counties at a glance
- Alger County households compared
- Before borrowing in Alger County
- Debt-to-income at Alger County's medians
- A Alger County borrower's checklist
- Who licenses lenders for Alger County residents
- Nearby and statewide guides
- Frequently asked questions
Alger County, MI: the basics
Roughly 8,762 residents live in Alger County, Michigan, 77th by population among the state's 83 counties and county equivalents. Land area is 915 square miles (2024 Gazetteer), so density runs near 10 per square mile. Under the July 2023 OMB definitions, Alger County is not part of any metropolitan area. The Census Bureau counts 3 places in the county (2 incorporated, 1 census-designated); the largest is Munising, with about 1,975 residents, or 23% of the county. With so few households sampled, Alger County estimates can move a lot between releases.
Household income in Alger County
Half of Alger County households take in less than $61,286 a year and half take in more, 16% below the Michigan median of $72,875. That places it 52nd among Michigan's 83 county-level areas.
| Income band | Share in Alger County | Difference from Michigan |
|---|---|---|
| Under $35,000 | 25.4% | +2.3 pts |
| $35,000 to $99,999 | 51.5% | +10.1 pts |
| $100,000 to $199,999 | 19.7% | -6.2 pts |
| $200,000 or more | 3.3% | -6.2 pts |
The spread is wide: 23% of Alger County households make $100,000 or more, and 25% make less than $35,000. 10.4% of residents fall below the federal poverty line (statewide: 13.2%). The Gini index of income inequality is 0.404 (0 is perfect equality). None of these numbers decides a Alger County application. Lenders weigh your own documented income against your own debts.
Renting and owning in Alger County
A typical Alger County rental runs $714 a month including utilities, which is 37% below Michigan. 36% of renting households spend 30% or more of income on rent, and 14% spend half or more. The median owner-occupied home is valued at $176,200, about 2.9 times the median household income. 86% of Alger County households own their home and 14% rent. The median home was built in 1974, so roofs, wiring and heating systems are a common source of repair bills.
| Alger County | Michigan | U.S. county median | |
|---|---|---|---|
| Median gross rent | $714/mo | $1,129/mo | $877/mo |
| Median home value | $176,200 | $231,600 | $185,300 |
| Owners | 86% | 73% | 75% |
| Rent-burdened renters | 36% | 50% | 45% |
| Burdened owners | 30% | 23% | n/a |
| Vacant units | 43% | 12% | n/a |
Because most Alger County households own, home repairs are a frequent reason to borrow. An unsecured personal loan leaves the house out of the deal, while a HELOC uses it as collateral.
The Alger County job picture
By the Census industry count, 23% of employed Alger County residents work in education and health care and 13% in retail trade. Compared with Michigan, the county leans toward public administration (10% against 4%). The survey's unemployment rate for Alger County averages 6.8% over 2020 to 2024 (state: 5.7%). 15% of commuters travel 45 minutes or more each way, and 8% work from home. Households without a car make up 5.6% of the total (7.0% statewide).
| Sector | Alger County | Compared with Michigan |
|---|---|---|
| Education and health care | 23.3% | 0.0 pts |
| Retail trade | 12.9% | +2.1 pts |
| Arts, lodging and food service | 12.0% | +3.5 pts |
| Manufacturing | 11.3% | -6.9 pts |
| Public administration | 10.0% | +6.4 pts |
| Construction | 7.5% | +1.6 pts |
If your hours swing with the season or with overtime, size a loan payment against your base pay, not your best month.
Places inside Alger County
The table lists the 3 largest of 3 Census places in Alger County, by population. Together all 3 hold about 2,263 people, so roughly 74% of residents live outside any named place. Live in one of these Alger County communities, or between them? This is your local guide.
| Town or CDP | Type | People | Median household income | Median gross rent | Miles from center |
|---|---|---|---|---|---|
| Munising | city | 1,975 | $59,808 | $706 | 7 mi |
| Grand Marais | CDP | 153 | $49,625 | n/a | 34 mi |
| Chatham | village | 135 | $48,438 | $713 | 18 mi |
Neighboring counties at a glance
The six counties whose centers lie closest to Alger County's, from 41 to 69 miles away. Income ranges from $54,893 in Luce County to $65,429 in Marquette County; 3 of these neighbors top Alger County's median.
| Adjacent area | How far | HH income (median) | Rent (median) | Owner share |
|---|---|---|---|---|
| Alger County | - | $61,286 | $714/mo | 86% |
| Schoolcraft County, MI | 41 mi | $56,782 | $705/mo | 87% |
| Marquette County, MI | 45 mi | $65,429 | $949/mo | 70% |
| Delta County, MI | 51 mi | $57,809 | $692/mo | 82% |
| Luce County, MI | 54 mi | $54,893 | $675/mo | 83% |
| Dickinson County, MI | 68 mi | $65,156 | $797/mo | 82% |
| Mackinac County, MI | 69 mi | $63,909 | $760/mo | 78% |
Alger County households compared
College graduates make up 21% of the adult population. The uninsured rate is 4.3%, against 4.9% for Michigan.
| People and households | Alger County | Michigan | Median county |
|---|---|---|---|
| Median age | 49.1 | 40.2 | 41.5 |
| Bachelor's or higher | 21.0% | 32.4% | 22.2% |
| No high school diploma | 6.1% | 7.9% | n/a |
| No health insurance | 4.3% | 4.9% | 7.8% |
| No vehicle | 5.6% | 7.0% | 5.4% |
| Work from home | 8.2% | 13.5% | 8.7% |
| Poverty rate | 10.4% | 13.2% | 13.2% |
| Unemployment (ACS) | 6.8% | 5.7% | 4.4% |
| Travel time to work | Workers |
|---|---|
| Under 15 min | 42.8% |
| 15 to 29 min | 28.5% |
| 30 to 44 min | 13.3% |
| 45 to 59 min | 9.0% |
| 60+ min | 6.4% |
Before borrowing in Alger County
Based on the Alger County data above, these borrowing questions are most likely to matter locally.
- Fixed incomes. Alger County's median age is 49.1. Social Security and pensions count as income when documented.
- Getting ready. Gather pay stubs or benefit letters before you apply (checklist).
- Debt consolidation. One fixed payment can save money only if the written APR and fees beat what you pay now (guide).
Debt-to-income at Alger County's medians
Lenders compare monthly debt payments with gross monthly income, the debt-to-income ratio. For a Alger County household at the medians it works out like this; treat it as an illustration only.
- Monthly gross at the median, Alger County: $5,107
- Less median rent of $714, which is 14% of it
- Under a 43% cap, $2,196 total minus rent leaves $1,482
Lenders set their own limits and look beyond the ratio. The DTI calculator uses your figures instead of Alger County's.
A Alger County borrower's checklist
Quick steps for Alger County:
- Borrow the amount the job needs; extra cash adds interest.
- Compare the total repaid on every offer, not just the payment.
- Look the lender up with the state regulator first.
- Ask a Alger County credit union about member loans.
Who licenses lenders for Alger County residents
Alger County borrowers fall under statewide rules, enforced by the Michigan Department of Insurance and Financial Services. Problems with a lender can also go to the CFPB. More on Michigan: Michigan personal loans.
Nearby and statewide guides
The Michigan guide covers the whole state.
Frequently asked questions
What is the median household income in Alger County?
$61,286 a year in the 2020 to 2024 Census survey, versus $72,875 for Michigan. It ranks 52nd of 83 in the state.
How much is rent in Alger County?
Median gross rent, utilities included, is $714 a month; 36% of renters spend 30% or more of income on it.
What are the biggest places in Alger County?
By population: Munising, Grand Marais, Chatham. The county has 3 Census places in all.
Can Alger County residents use the questionnaire?
Yes. It asks the same questions in every Michigan county, lists every requirement up front and does not affect your credit score.
Is there a Alger County office that licenses lenders?
No, licensing is statewide. In Michigan it is the Michigan Department of Insurance and Financial Services.