Kalamazoo, MI—49006
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 $231,000, with a year-over-year change of 2.4%. This indicates that home prices in Kalamazoo, MI are increasing. According to Zillow, the 1-year price projection is 1.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $231,000 | 2.4% |
| Single Family | $234,000 | 2.6% |
| Condos | $189,000 | 2.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $105,000 | 6.1% |
2 Bed | $179,000 | 3.5% |
3 Bed | $235,000 | 2.2% |
4 Bed | $265,000 | 1.5% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Kalamazoo, MI
As of July '25, Rentcast reports the average rent in Kalamazoo, MI is $1,580, with a year-over-year rent change of 9.7%. Per bedroom, the median rent as of July '25 in Kalamazoo, MI is studios: $726, 1-bedrooms: $986, 2-bedrooms: $1,050, 3-bedrooms: $1,400, 4-bedrooms: $1,690. The most common rental property sizes in Kalamazoo, MI are 2-bedroom and 1-bedroom, accounting for 46.2% and 21.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,400 | $1,580 |
| Studio Rent | $700 | $726 |
| 1 Bed Rent | $900 | $986 |
| 2 Bed Rent | $1,020 | $1,050 |
| 3 Bed Rent | $1,190 | $1,400 |
| 4 Bed Rent | $1,800 | $1,690 |
% 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 34. This is a decrease of -15.0% 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 32.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $265,000 | 9.0% |
Listing Count | 68 | 7.0% |
| Listings as % of Homes | 0.3% | 7.0% |
Days on Market | 34 | -15.0% |
Demographics — Kalamazoo, MI
As of the latest ACS Survey released in 2023, Kalamazoo, MI has a population of 25,900, which has decreased by -11.1% over the past 5 years. Kalamazoo, MI is a less popular place for families, as children make up 12.6% of the population. The area has a moderately educated workforce, with 44.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 25,900 | -11.1% |
% Under 18 | 12.6% | 1.6% |
% Seniors | 9.8% | 12.6% |
% WFH | 9.6% | 118.2% |
% w/ College Degree | 44.4% | -5.5% |
As of the latest ACS Survey released in 2023, Kalamazoo, MI is a predominantly white area, with 64.8% of the population identifying as white. The white population has shrunk by 6.9% in the last 5 years. The second most common race or ethnicity in Kalamazoo, MI is black, making up 14.2% of the population. Foreign-born residents account for 9.1% of the population in Kalamazoo, MI, and this percentage has increased by 30.0% 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 | 64.8% | -6.9% |
% Black | 14.2% | 0.0% |
% Hispanic | 8.7% | 35.9% |
% Asian | 4.4% | 7.3% |
% Foreign Born | 9.1% | 30.0% |
Mortgage and Risk — Kalamazoo, MI
According to HUD data as of 2023, there were 401 mortgage originations in Kalamazoo, MI, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 34.0% above 90% LTV (very high). This implies large mortgage risk in Kalamazoo, MI. Investor activity is low, as 5.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 401 |
% Conventional Loans | 90.0% |
% Government Loans | 10.0% |
% Investor Loans | 5.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Kalamazoo, MI
As of 2024, the percent of homes in Kalamazoo, MI under the Section 8 program is 6.9%. 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. 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Kalamazoo, MI, because HUD payments exceed market rent, while 1-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 538 |
Total Units Section 8 | 502 |
% Rentals under Section 8 | 6.9% |
% Occupied Section 8 | 94.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $0 | $900 | $900 |
| 2 Bedroom | $50 | $1,020 | $1,070 |
| 3 Bedroom | $230 | $1,190 | $1,420 |
| 4 Bedroom | -$290 | $1,800 | $1,510 |
Affordability — Kalamazoo, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.5 |
| Median Home Price | $231,000 |
| Median Household Income | $45,600 |