Kalamazoo, MI—49001
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Kalamazoo, MI
As of Oct '25, the median home price in Kalamazoo, MI is $160,000, with a year-over-year change of 4.9%. This indicates that home prices in Kalamazoo, MI are increasing. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $160,000 | 4.9% |
| Single Family | $161,000 | 5.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $146,000 | 5.0% |
3 Bed | $172,000 | 5.5% |
4 Bed | $171,000 | 4.3% |
| 5 Bed | $173,000 | 1.2% |
% of Housing Stock
Rental Trends — Kalamazoo, MI
As of July '25, Rentcast reports the average rent in Kalamazoo, MI is $1,090, with a year-over-year rent change of -1.8%. Per bedroom, the median rent as of July '25 in Kalamazoo, MI is studios: $761, 1-bedrooms: $853, 2-bedrooms: $1,150, 3-bedrooms: $1,310, 4-bedrooms: $1,450. The most common rental property sizes in Kalamazoo, MI are 2-bedroom and 1-bedroom, accounting for 47.5% and 29.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $975 | $1,090 |
| Studio Rent | $699 | $761 |
| 1 Bed Rent | $850 | $853 |
| 2 Bed Rent | $1,000 | $1,150 |
| 3 Bed Rent | $1,380 | $1,310 |
| 4 Bed Rent | $1,400 | $1,450 |
% of Rental Stock
Property Listings — Kalamazoo, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Kalamazoo, MI is 39. This is a decrease of -4.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 36.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $176,000 | 17.0% |
Listing Count | 56 | 5.0% |
| Listings as % of Homes | 0.4% | 5.0% |
Days on Market | 39 | -4.0% |
Demographics — Kalamazoo, MI
As of the latest ACS Survey released in 2023, Kalamazoo, MI has a population of 21,300, which has increased by 1.2% over the past 5 years. Kalamazoo, MI is a popular place for families, as children make up 25.2% of the population. The area has a moderately educated workforce, with 29.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 21,300 | 1.2% |
% Under 18 | 25.2% | 1.6% |
% Seniors | 11.2% | 13.1% |
% WFH | 8.4% | 265.2% |
% w/ College Degree | 29.8% | 16.4% |
As of the latest ACS Survey released in 2023, Kalamazoo, MI is a predominantly white area, with 58.0% of the population identifying as white. The white population has shrunk by 6.6% in the last 5 years. The second most common race or ethnicity in Kalamazoo, MI is black, making up 25.4% of the population. Foreign-born residents account for 8.7% of the population in Kalamazoo, MI, and this percentage has increased by 85.1% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 58.0% | -6.6% |
% Black | 25.4% | 11.4% |
% Hispanic | 14.8% | 38.3% |
% Asian | 1.6% | 100.0% |
% Foreign Born | 8.7% | 85.1% |
Mortgage and Risk — Kalamazoo, MI
According to HUD data as of 2023, there were 411 mortgage originations in Kalamazoo, MI, of which 84.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 36.0% above 90% LTV (very high). This implies large mortgage risk in Kalamazoo, MI. Investor activity is low, as 6.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 411 |
% Conventional Loans | 84.0% |
% Government Loans | 16.0% |
% Investor Loans | 6.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Kalamazoo, MI
As of 2024, the percent of homes in Kalamazoo, MI under the Section 8 program is 11.7%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Kalamazoo, MI, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 476 |
Total Units Section 8 | 458 |
% Rentals under Section 8 | 11.7% |
% Occupied Section 8 | 94.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $110 | $850 | $960 |
| 2 Bedroom | $140 | $1,000 | $1,140 |
| 3 Bedroom | $130 | $1,380 | $1,510 |
| 4 Bedroom | $210 | $1,400 | $1,610 |
Affordability — Kalamazoo, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.6 |
| Median Home Price | $160,000 |
| Median Household Income | $52,300 |