Dowagiac, MI—49047
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Dowagiac, MI
As of Oct '25, the median home price in Dowagiac, MI is $209,000, with a year-over-year change of 1.4%. This indicates that home prices in Dowagiac, MI are increasing. According to Zillow, the 1-year price projection is 3.0%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $209,000 | 1.4% |
| Single Family | $209,000 | 1.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $164,000 | 4.5% |
3 Bed | $217,000 | 4.3% |
4 Bed | $279,000 | 2.2% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Dowagiac, MI
As of July '25, Rentcast reports the average rent in Dowagiac, MI is $888, with a year-over-year rent change of -11.2%. Per bedroom, the median rent as of July '25 in Dowagiac, MI is 1-bedrooms: $931, 2-bedrooms: $800. The most common rental property sizes in Dowagiac, MI are 2-bedroom and 3-bedroom, accounting for 41.2% and 26.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $800 | $888 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $800 | $931 |
| 2 Bed Rent | $800 | $800 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Dowagiac, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Dowagiac, MI is 78. This is a increase of 47.0% 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 14.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $308,000 | 10.0% |
Listing Count | 83 | 17.0% |
| Listings as % of Homes | 0.6% | 17.0% |
Days on Market | 78 | 47.0% |
Demographics — Dowagiac, MI
As of the latest ACS Survey released in 2023, Dowagiac, MI has a population of 14,500, which has decreased by -1.3% over the past 5 years. Dowagiac, MI is a moderately popular place for families, as children make up 19.5% of the population. The area has a poorly educated workforce, with 21.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 4.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 14,500 | -1.3% |
% Under 18 | 19.5% | -6.7% |
% Seniors | 21.7% | 7.4% |
% WFH | 4.8% | 37.1% |
% w/ College Degree | 21.2% | 35.9% |
As of the latest ACS Survey released in 2023, Dowagiac, MI is a predominantly white area, with 80.9% of the population identifying as white. The white population has grown by 6.2% in the last 5 years. The second most common race or ethnicity in Dowagiac, MI is hispanic, making up 7.2% of the population. Foreign-born residents account for 2.6% of the population in Dowagiac, MI, and this percentage has increased by 4.0% 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 | 80.9% | 6.2% |
% Black | 5.8% | -20.5% |
% Hispanic | 7.2% | -7.7% |
% Asian | 0.2% | -60.0% |
% Foreign Born | 2.6% | 4.0% |
Mortgage and Risk — Dowagiac, MI
According to HUD data as of 2023, there were 252 mortgage originations in Dowagiac, MI, of which 78.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 25.0% above 90% LTV (very high). This implies large mortgage risk in Dowagiac, MI. Investor activity is low, as 4.0% of loans were by investors. 17.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 252 |
% Conventional Loans | 78.0% |
% Government Loans | 22.0% |
% Investor Loans | 4.0% |
% Second Loans | 10.0% |
% Cash Out Refinance | 17.0% |
Loan Activity
Rentals and Section 8 — Dowagiac, MI
Dowagiac, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 332 |
Total Units Section 8 | 246 |
% Rentals under Section 8 | 14.6% |
% Occupied Section 8 | 91.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $30 | $800 | $830 |
| 2 Bedroom | $160 | $800 | $960 |
| 3 Bedroom | N/A | N/A | $1,230 |
| 4 Bedroom | N/A | N/A | $1,530 |
Affordability — Dowagiac, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $209,000 |
| Median Household Income | $55,500 |