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  4. /Portage, MI - 49002

Portage, MI—49002

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$280,000
4.6% YoY Growth
Household Income
$71,600
27.2% YoY Growth
Days on Market
39
54.0% Longer YoY
Home Price Forecast
1.7%
Median Rent
$1,480
2.3% YoY Growth
1-Bed Rent
$791
N/A
2-Bed Rent
$1,150
0.7% YoY Growth
3-Bed Rent
$1,400
37.4% YoY Growth

Other Zip Codes in Portage, MI

49024
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Portage, MI

As of May '26, the median home price in Portage, MI is $280,000, with a year-over-year change of 4.6%. This indicates that home prices in Portage, MI are increasing. According to Zillow, the 1-year price projection is 1.7%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$280,0004.6%
Single Family $275,0004.2%
Condos N/AN/A

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$232,0002.2%
    3 Bed
    		$279,0003.3%
    4 Bed
    		$366,0002.2%
    5 Bed N/AN/A
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    % of Housing Stock

    Studio
    1.6%
    1 Bedroom
    14.3%
    2 Bedrooms
    23.4%
    3 Bedrooms
    39.2%
    4 Bedrooms
    16.5%
    5+ Bedrooms
    5.0%

    Rental Trends — Portage, MI

    As of July '25, Rentcast reports the average rent in Portage, MI is $1,680, with a year-over-year rent change of -2.3%. Per bedroom, the median rent as of July '25 in Portage, MI is 1-bedrooms: $849, 2-bedrooms: $1,370, 3-bedrooms: $1,470, 4-bedrooms: $2,480. The most common rental property sizes in Portage, MI are 2-bedroom and 1-bedroom, accounting for 41.8% and 39.4% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$1,480$1,680
    Studio Rent N/AN/A
    1 Bed Rent $791$849
    2 Bed Rent $1,150$1,370
    3 Bed Rent $1,400$1,470
    4 Bed Rent $2,500$2,480
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    % of Rental Stock

    Studio
    3.7%
    1 Bedroom
    39.4%
    2 Bedrooms
    41.8%
    3 Bedrooms
    12.9%
    4 Bedrooms
    1.7%
    5+ Bedrooms
    0.5%

    Property Listings — Portage, MI

    As of May '26, Realtor.com reports that the median days on market for a home in Portage, MI is 39. This is a increase of 54.0% 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 18.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$315,000-10.0%
    Listing Count
    		6716.0%
    Listings as % of Homes0.3%16.0%
    Days on Market
    		3954.0%
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    Demographics — Portage, MI

    As of the latest ACS Survey released in 2023, Portage, MI has a population of 19,400, which has decreased by -8.4% over the past 5 years. Portage, MI is a moderately popular place for families, as children make up 21.8% of the population. The area has a moderately educated workforce, with 43.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.6% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		19,400-8.4%
    % Under 18
    		21.8%-6.8%
    % Seniors
    		18.7%23.0%
    % WFH
    		8.6%126.3%
    % w/ College Degree
    		43.0%27.2%
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    As of the latest ACS Survey released in 2023, Portage, MI is a predominantly white area, with 85.0% of the population identifying as white. The white population has grown by 2.9% in the last 5 years. The second most common race or ethnicity in Portage, MI is hispanic, making up 4.7% of the population. Foreign-born residents account for 3.7% of the population in Portage, MI, and this percentage has decreased by 24.5% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		85.0%2.9%
    % Black
    		3.7%-21.3%
    % Hispanic
    		4.7%-24.2%
    % Asian
    		0.9%-69.0%
    % Foreign Born
    		3.7%-24.5%
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    Mortgage and Risk — Portage, MI

    According to HUD data as of 2023, there were 321 mortgage originations in Portage, MI, of which 87.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 25.0% 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. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		321
    % Conventional Loans
    		87.0%
    % Government Loans
    		13.0%
    % Investor Loans
    		1.0%
    % Second Loans
    		1.0%
    % Cash Out Refinance
    		11.0%
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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 2.2%. 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
    		70
    Total Units Section 8
    		60
    % Rentals under Section 8
    		2.2%
    % Occupied Section 8
    		93.0%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$99$791$890
    2 Bedroom-$90$1,150$1,060
    3 Bedroom$0$1,400$1,400
    4 Bedroom-$1,000$2,500$1,500

    Affordability — Portage, MI

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio3.4
    Median Home Price$280,000
    Median Household Income$71,600

    Portage, MI — ZIP Code Boundary Map

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    Frequently Asked Questions