Kalamazoo, MI—49009
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 $363,000, with a year-over-year change of 2.1%. This indicates that home prices in Kalamazoo, MI are increasing. According to Zillow, the 1-year price projection is 0.9%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $363,000 | 2.1% |
| Single Family | $374,000 | 1.9% |
| Condos | $305,000 | 3.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $270,000 | 3.4% |
3 Bed | $316,000 | 2.3% |
4 Bed | $433,000 | 2.1% |
| 5 Bed | $563,000 | 1.3% |
% of Housing Stock
Rental Trends — Kalamazoo, MI
As of July '25, Rentcast reports the average rent in Kalamazoo, MI is $1,450, with a year-over-year rent change of -23.3%. Per bedroom, the median rent as of July '25 in Kalamazoo, MI is studios: $1,100, 1-bedrooms: $1,030, 2-bedrooms: $1,630, 3-bedrooms: $2,350, 4-bedrooms: $2,130. The most common rental property sizes in Kalamazoo, MI are 2-bedroom and 1-bedroom, accounting for 53.6% and 28.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,050 | $1,450 |
| Studio Rent | $730 | $1,100 |
| 1 Bed Rent | $999 | $1,030 |
| 2 Bed Rent | $1,600 | $1,630 |
| 3 Bed Rent | $1,100 | $2,350 |
| 4 Bed Rent | $2,500 | $2,130 |
% 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 62. This is a increase of 2.0% 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 29.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $507,000 | 2.0% |
Listing Count | 157 | 9.0% |
| Listings as % of Homes | 0.5% | 9.0% |
Days on Market | 62 | 2.0% |
Demographics — Kalamazoo, MI
As of the latest ACS Survey released in 2023, Kalamazoo, MI has a population of 47,600, which has increased by 5.2% over the past 5 years. Kalamazoo, MI is a moderately popular place for families, as children make up 23.6% of the population. The area has a highly educated workforce, with 50.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 47,600 | 5.2% |
% Under 18 | 23.6% | 8.3% |
% Seniors | 17.9% | 5.9% |
% WFH | 14.5% | 150.0% |
% w/ College Degree | 50.1% | 8.4% |
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 7.6% in the last 5 years. The second most common race or ethnicity in Kalamazoo, MI is black, making up 8.2% of the population. Foreign-born residents account for 9.2% of the population in Kalamazoo, MI, and this percentage has increased by 13.6% 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% | -7.6% |
% Black | 8.2% | 9.3% |
% Hispanic | 4.4% | 2.3% |
% Asian | 4.8% | 29.7% |
% Foreign Born | 9.2% | 13.6% |
Mortgage and Risk — Kalamazoo, MI
According to HUD data as of 2023, there were 886 mortgage originations in Kalamazoo, MI, of which 93.0% of loans were conventional mortgages. The average loan-to-value was 56.0%, with 20.0% above 90% LTV (very high). This implies large mortgage risk in Kalamazoo, MI. Investor activity is low, as 1.0% 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 | 886 |
% Conventional Loans | 93.0% |
% Government Loans | 7.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% 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 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. 1-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 2-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 484 |
Total Units Section 8 | 484 |
% Rentals under Section 8 | 6.9% |
% Occupied Section 8 | 94.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $61 | $999 | $1,060 |
| 2 Bedroom | -$340 | $1,600 | $1,260 |
| 3 Bedroom | $570 | $1,100 | $1,670 |
| 4 Bedroom | -$720 | $2,500 | $1,780 |
Affordability — Kalamazoo, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.1 |
| Median Home Price | $363,000 |
| Median Household Income | $82,400 |