Michigan
Alcona County
ZIP 48728
10,310 residents38 permits TTM$53,568 median HHI10 ZIP codesUpdated April 16, 2026
Investor first look
Median home value
$157,500
ACS 5-Year
Cap rate proxy
6.0%
FMR × 0.65 ÷ Home Value
Rent-to-income
17.7%
HUD FMR ÷ ACS HHI
Net migration
+1.97%
IRS SOI
Permits (TTM)
38
Census BPS
Climate risk
17.7
FEMA NRI (0–100)
ZIP 48728
Median home value
$157,500
Gross yield
7.4%
Cap rate
6.0%
Rent gap
18.8%
Affordability
P/I: 3.1R/I: —
Section 8 detail
SAFMR: $973Rent: $790Gap: 23.2%
ZIP code breakdown10 ZIP codes
| ZIP | Median home value | Rent (FMR 2BR) | Gross yield | Cap rate | Rent gap |
|---|---|---|---|---|---|
| 48705 | $157,500county est. | $973 | 7.4% | 6.0% | 18.8% |
| 48721 | $157,500county est. | $973 | 7.4% | 6.0% | 18.8% |
| 48728 | $157,500county est. | $973 | 7.4% | 6.0% | 18.8% |
| 48737 | $121,519 | $973 | 9.6% | 7.8% | 18.8% |
| 48738 | $229,565 | $973 | 5.1% | 4.1% | 18.8% |
Ranked by composite score
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Demographics
Owner-occupied
89.6%
Census ACS
Vacancy rate
50.6%
Census ACS
Bachelor's degree +
20.6%
Census ACS
Rent burdened
36.0%
Census ACS (>30% income)
Median age
59.7
Census ACS
U.S. Census Bureau — American Community Survey 5-Year Estimates
U.S. Census Bureau — Building Permits Survey
U.S. Department of Housing and Urban Development — Fair Market Rents / Small Area Fair Market Rents (SAFMR)
Internal Revenue Service — Statistics of Income Migration Data
FEMA — National Risk Index
Last updated: April 16, 2026