Portage, MI 49024 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Portage, MI—49024

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$297,000

2.6% YoY Growth

Household Income

$86,400

24.9% YoY Growth

Days on Market

6.0% Shorter YoY

Home Price Forecast

2.0%

Median Rent

$2,000

7.7% YoY Growth

1-Bed Rent

$949

N/A

2-Bed Rent

$1,500

7.5% YoY Growth

3-Bed Rent

$2,300

5.3% YoY Growth

Other Zip Codes in Portage, MI

49002

Home Price Trends — Portage, MI

As of Dec '25, the median home price in Portage, MI is $297,000, with a year-over-year change of 2.6%. This indicates that home prices in Portage, MI are increasing. According to Zillow, the 1-year price projection is 2.0%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$297,000	2.6%
Single Family	$299,000	3.1%
Condos	$280,000	2.2%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Portage, MI

As of July '25, Rentcast reports the average rent in Portage, MI is $2,050, with a year-over-year rent change of -7.7%. Per bedroom, the median rent as of July '25 in Portage, MI is 1-bedrooms: $1,000, 2-bedrooms: $1,480, 3-bedrooms: $2,170, 4-bedrooms: $2,470. The most common rental property sizes in Portage, MI are 2-bedroom and 1-bedroom, accounting for 43.3% and 32.7% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$2,000	$2,050
Studio Rent	N/A	N/A
1 Bed Rent	$949	$1,000
2 Bed Rent	$1,500	$1,480
3 Bed Rent	$2,300	$2,170
4 Bed Rent	$2,500	$2,470

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% of Rental Stock

Studio

4.2%

1 Bedroom

32.7%

2 Bedrooms

43.3%

3 Bedrooms

14.9%

4 Bedrooms

4.0%

5+ Bedrooms

0.8%

Property Listings — Portage, MI

As of Dec '25, Realtor.com reports that the median days on market for a home in Portage, MI is 39. This is a decrease of -5.0% 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 11.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$372,000	12.0%
Listing Count	96	10.0%
Listings as % of Homes	0.3%	10.0%
Days on Market	52	-6.0%

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Demographics — Portage, MI

As of the latest ACS Survey released in 2023, Portage, MI has a population of 30,900, which has increased by 7.8% over the past 5 years. Portage, MI is a moderately popular place for families, as children make up 21.9% of the population. The area has a highly educated workforce, with 51.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.2% reporting working from home.

Metric	Latest Census	YoY % Change
Population	30,900	7.8%
% Under 18	21.9%	-6.0%
% Seniors	16.1%	1.9%
% WFH	13.2%	247.4%
% w/ College Degree	51.4%	1.8%

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As of the latest ACS Survey released in 2023, Portage, MI is a predominantly white area, with 77.7% of the population identifying as white. The white population has shrunk by 7.7% in the last 5 years. The second most common race or ethnicity in Portage, MI is black, making up 6.9% of the population. Foreign-born residents account for 7.6% of the population in Portage, MI, and this percentage has increased by 28.8% 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	77.7%	-7.7%
% Black	6.9%	32.7%
% Hispanic	5.8%	61.1%
% Asian	4.9%	53.1%
% Foreign Born	7.6%	28.8%

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Mortgage and Risk — Portage, MI

According to HUD data as of 2023, there were 686 mortgage originations in Portage, MI, of which 89.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 23.0% above 90% LTV (very high). This implies large mortgage risk in Portage, MI. Investor activity is low, as 1.0% 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	686
% Conventional Loans	89.0%
% Government Loans	11.0%
% Investor Loans	1.0%
% Second Loans	1.0%
% Cash Out Refinance	9.0%

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Rentals and Section 8 — Portage, MI

As of 2024, the percent of homes in Portage, MI under the Section 8 program is 8.5%. 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 units appear to be good home sizes to consider for Section 8 housing in Portage, MI, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.

Section 8 Market Size

Total Units under HUD	354
Total Units Section 8	354
% Rentals under Section 8	8.5%
% Occupied Section 8	95.3%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$181	$949	$1,130
2 Bedroom	-$160	$1,500	$1,340
3 Bedroom	-$530	$2,300	$1,770
4 Bedroom	-$600	$2,500	$1,900

Portage, MI—49024

Key Metrics at a Glance

Other Zip Codes in Portage, MI

Home Price Trends — Portage, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Portage, MI

% of Rental Stock

Property Listings — Portage, MI

Demographics — Portage, MI

Race and Ethnicity

Mortgage and Risk — Portage, MI

Mortgages

Rentals and Section 8 — Portage, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — Portage, MI

Home Price to Income Ratio

Portage, MI — ZIP Code Boundary Map

Nearby ZIP Codes

Portage, MI

Kalamazoo, MI

Kalamazoo, MI

Kalamazoo, MI

Schoolcraft, MI

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.1
Median Home Price	$297,000
Median Household Income	$86,400

Portage, MI—49024

Key Metrics at a Glance

Other Zip Codes in Portage, MI

Home Price Trends — Portage, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Portage, MI

% of Rental Stock

Property Listings — Portage, MI

Demographics — Portage, MI

Race and Ethnicity

Mortgage and Risk — Portage, MI

Mortgages

Rentals and Section 8 — Portage, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — Portage, MI

Home Price to Income Ratio

Portage, MI — ZIP Code Boundary Map

Nearby ZIP Codes

Portage, MI

Kalamazoo, MI

Kalamazoo, MI

Kalamazoo, MI

Schoolcraft, MI

Frequently Asked Questions

What is the average home price in Portage, MI 49024?

How have home prices in Portage, MI 49024 changed over the past year?

What is the home price projection for Portage, MI 49024?

What are the demographics of Portage, MI 49024?

How long does it take homes to sell in Portage, MI 49024?

What is the average rent price in Portage, MI 49024?