Kalamazoo, MI—49008
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 $240,000, with a year-over-year change of 3.6%. 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 | $240,000 | 3.6% |
| Single Family | $244,000 | 3.4% |
| Condos | $215,000 | 4.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $113,000 | 2.7% |
2 Bed | $171,000 | 3.6% |
3 Bed | $251,000 | 3.7% |
4 Bed | $343,000 | 2.7% |
| 5 Bed | $374,000 | 2.2% |
% of Housing Stock
Rental Trends — Kalamazoo, MI
As of July '25, Rentcast reports the average rent in Kalamazoo, MI is $1,230, with a year-over-year rent change of -0.8%. Per bedroom, the median rent as of July '25 in Kalamazoo, MI is studios: $720, 1-bedrooms: $954, 2-bedrooms: $1,110, 3-bedrooms: $1,670, 4-bedrooms: $1,600. The most common rental property sizes in Kalamazoo, MI are 1-bedroom and 2-bedroom, accounting for 40.3% and 37.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,100 | $1,230 |
| Studio Rent | $720 | $720 |
| 1 Bed Rent | $900 | $954 |
| 2 Bed Rent | $1,080 | $1,110 |
| 3 Bed Rent | $1,650 | $1,670 |
| 4 Bed Rent | $1,600 | $1,600 |
% 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 35. This is a increase of 12.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 30.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $261,000 | -6.0% |
Listing Count | 54 | 16.0% |
| Listings as % of Homes | 0.5% | 16.0% |
Days on Market | 35 | 12.0% |
Demographics — Kalamazoo, MI
As of the latest ACS Survey released in 2023, Kalamazoo, MI has a population of 16,500, which has decreased by -1.4% over the past 5 years. Kalamazoo, MI is a moderately popular place for families, as children make up 15.9% of the population. The area has a highly educated workforce, with 54.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 16,500 | -1.4% |
% Under 18 | 15.9% | -12.2% |
% Seniors | 16.5% | 7.1% |
% WFH | 12.7% | 159.2% |
% w/ College Degree | 54.8% | 5.8% |
As of the latest ACS Survey released in 2023, Kalamazoo, MI is a predominantly white area, with 75.1% of the population identifying as white. The white population has shrunk by 4.6% in the last 5 years. The second most common race or ethnicity in Kalamazoo, MI is black, making up 11.7% of the population. Foreign-born residents account for 7.7% of the population in Kalamazoo, MI, and this percentage has increased by 79.1% 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 | 75.1% | -4.6% |
% Black | 11.7% | 31.5% |
% Hispanic | 4.8% | 29.7% |
% Asian | 2.6% | -21.2% |
% Foreign Born | 7.7% | 79.1% |
Mortgage and Risk — Kalamazoo, MI
According to HUD data as of 2023, there were 344 mortgage originations in Kalamazoo, MI, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 28.0% above 90% LTV (very high). This implies large mortgage risk in Kalamazoo, MI. Investor activity is low, as 3.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 344 |
% Conventional Loans | 90.0% |
% Government Loans | 10.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Kalamazoo, MI
As of 2024, the percent of homes in Kalamazoo, MI under the Section 8 program is 19.0%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Kalamazoo, MI, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 438 |
Total Units Section 8 | 438 |
% Rentals under Section 8 | 19.0% |
% Occupied Section 8 | 95.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $20 | $900 | $920 |
| 2 Bedroom | $20 | $1,080 | $1,100 |
| 3 Bedroom | -$190 | $1,650 | $1,460 |
| 4 Bedroom | -$40 | $1,600 | $1,560 |
Affordability — Kalamazoo, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.2 |
| Median Home Price | $240,000 |
| Median Household Income | $67,300 |