Kalamazoo, MI—49007
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Kalamazoo, MI
As of Nov '25, the median home price in Kalamazoo, MI is $118,000, with a year-over-year change of 2.7%. This indicates that home prices in Kalamazoo, MI are increasing. According to Zillow, the 1-year price projection is 2.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $118,000 | 2.7% |
| Single Family | $113,000 | 4.6% |
| Condos | $254,000 | 3.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $171,000 | 2.4% |
2 Bed | $89,000 | 1.1% |
3 Bed | $105,000 | 6.1% |
4 Bed | $122,000 | 3.4% |
| 5 Bed | $167,332 | -0.5% |
% of Housing Stock
Rental Trends — Kalamazoo, MI
As of July '25, Rentcast reports the average rent in Kalamazoo, MI is $1,150, with a year-over-year rent change of -12.2%. Per bedroom, the median rent as of July '25 in Kalamazoo, MI is studios: $891, 1-bedrooms: $948, 2-bedrooms: $1,220, 3-bedrooms: $1,520, 4-bedrooms: $1,620. The most common rental property sizes in Kalamazoo, MI are 1-bedroom and 2-bedroom, accounting for 34.1% and 27.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,000 | $1,150 |
| Studio Rent | $710 | $891 |
| 1 Bed Rent | $875 | $948 |
| 2 Bed Rent | $1,120 | $1,220 |
| 3 Bed Rent | $1,440 | $1,520 |
| 4 Bed Rent | $1,650 | $1,620 |
% of Rental Stock
Property Listings — Kalamazoo, MI
As of Nov '25, Realtor.com reports that the median days on market for a home in Kalamazoo, MI is 47. This is a decrease of -11.0% 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 25.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $135,000 | -1.0% |
Listing Count | 32 | -6.0% |
| Listings as % of Homes | 0.6% | -6.0% |
Days on Market | 47 | -11.0% |
Demographics — Kalamazoo, MI
As of the latest ACS Survey released in 2023, Kalamazoo, MI has a population of 9,750, which has decreased by -6.8% over the past 5 years. Kalamazoo, MI is a moderately popular place for families, as children make up 18.2% of the population. The area has a poorly educated workforce, with 23.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 9,750 | -6.8% |
% Under 18 | 18.2% | -6.7% |
% Seniors | 7.2% | -17.2% |
% WFH | 6.8% | 58.1% |
% w/ College Degree | 23.9% | -1.6% |
As of the latest ACS Survey released in 2023, Kalamazoo, MI is a predominantly white area, with 44.4% of the population identifying as white. The white population has grown by 8.6% in the last 5 years. The second most common race or ethnicity in Kalamazoo, MI is black, making up 44.3% of the population. Foreign-born residents account for 2.7% of the population in Kalamazoo, MI, and this percentage has decreased by 27.0% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 44.4% | 8.6% |
% Black | 44.3% | 2.1% |
% Hispanic | 3.0% | -34.8% |
% Asian | 0.9% | -52.6% |
% Foreign Born | 2.7% | -27.0% |
Mortgage and Risk — Kalamazoo, MI
According to HUD data as of 2023, there were 62 mortgage originations in Kalamazoo, MI, of which 79.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 29.0% above 90% LTV (very high). This implies large mortgage risk in Kalamazoo, MI. Investor activity is low, as 13.0% of loans were by investors. 5.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 62 |
% Conventional Loans | 79.0% |
% Government Loans | 21.0% |
% Investor Loans | 13.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 5.0% |
Rentals and Section 8 — Kalamazoo, MI
As of 2024, the percent of homes in Kalamazoo, MI under the Section 8 program is 25.5%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Kalamazoo, MI, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 828 |
Total Units Section 8 | 807 |
% Rentals under Section 8 | 25.5% |
% Occupied Section 8 | 95.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $105 | $875 | $980 |
| 2 Bedroom | $50 | $1,120 | $1,170 |
| 3 Bedroom | $110 | $1,440 | $1,550 |
| 4 Bedroom | $10 | $1,650 | $1,660 |
Affordability — Kalamazoo, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.5 |
| Median Home Price | $118,000 |
| Median Household Income | $39,300 |