The typical owner-occupied home in Alger is worth about $68,500, 68% below the Ohio median of $214,800 and 79% below the national median of $332,700. Owners pay a median $912 a year in property taxes, about 1.33% of their home's value, close to the Ohio rate of 1.31%. The median household earns $38,333 a year, so the median home costs 1.8 times the median income (3.0 times for Ohio). 73% of occupied homes here are lived in by their owners, and 38% of those owners still have a mortgage.
Alger at a glance
| Alger | Ohio | U.S. | |
|---|---|---|---|
| Median home value | $68,500 | $214,800 | $332,700 |
| Median property tax paid per year | $912 | $2,822 | $3,119 |
| Property tax as a share of value | 1.33% | 1.31% | 0.94% |
| Median household income | $38,333 | $71,389 | $80,734 |
| Homes lived in by their owners | 73% | 67% | 65% |
| Owner homes with a mortgage | 38% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $925 | $1,517 | $1,963 |
| Those costs as a share of the owners' income | 26.9% | 18.6% | 21.0% |
| Median rent | $644 | $1,034 | $1,413 |
| Rent as a share of renters' income | 25.1% | 28.3% | 30.6% |
| Median year homes were built | 1970 | 1970 | 1980 |
| Vacant homes | 13.5% | 8.1% | 10.1% |
| Population | 718 | 11,810,293 | 334,922,499 |
What a typical home costs per month in Alger
At this week's average 30-year rate of 7.11%, buying the median Alger home of $68,500 with 20% down costs about $473 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $587, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $20,276 for the 20%-down payment. That payment is 15% of the median Alger household income of $38,333; at that income and 20% down, the 28% guideline points to a home of about $130,000.
The median rent here is $644 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $13,700 |
|---|---|
| Loan amount | $54,800 |
| Principal and interest | $369 |
| Property taxes (1.33% a year) | $76 |
| Homeowners insurance (our estimate, 0.5% a year) | $29 |
| PMI | $0 |
| Total per month | $473 |
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| Down payment | $2,398 |
|---|---|
| Loan amount | $67,259 |
| Principal and interest | $452 |
| Property taxes (1.33% a year) | $76 |
| Homeowners insurance (our estimate, 0.5% a year) | $29 |
| FHA mortgage insurance | $30 |
| Total per month | $587 |
Change the numbers in the calculator
Questions about home buying in Alger
What is the median home value in Alger?
About $68,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Alger?
Homeowners pay a median $912 a year, which is about 1.33% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Alger?
For the median home with 20% down at 7.11%, the payment is about $473 a month. Keeping that under 28% of gross income takes about $20,276 a year.
More about Alger
- Mortgage Refinance in Alger
- Debt Relief in Alger
- Home Equity Loans in Alger
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data