Portage, MI—49024
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Portage, MI
Home Price Trends — Portage, MI
As of Oct '25, the median home price in Portage, MI is $299,000, with a year-over-year change of 2.2%. This indicates that home prices in Portage, 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 | $299,000 | 2.2% |
| Single Family | $301,000 | 2.7% |
| Condos | $278,000 | 1.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $209,000 | 0.0% |
3 Bed | $287,000 | 2.5% |
4 Bed | $358,000 | 2.3% |
| 5 Bed | N/A | N/A |
% of Housing Stock
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 |
% of Rental Stock
Property Listings — Portage, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Portage, MI is 42. This is a increase of 4.0% 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 28.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $385,000 | 4.0% |
Listing Count | 123 | 15.0% |
| Listings as % of Homes | 0.3% | 15.0% |
Days on Market | 42 | 4.0% |
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% |
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% |
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% |
Loan Activity
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 |
Affordability — Portage, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.2 |
| Median Home Price | $299,000 |
| Median Household Income | $86,400 |