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  4. /Dowagiac, MI - 49047

Dowagiac, MI—49047

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$232,000
6.1% YoY Growth
Household Income
$55,500
22.7% YoY Growth
Days on Market
77
14.0% Longer YoY
Home Price Forecast
3.2%
Median Rent
$800
11.2% YoY Growth
1-Bed Rent
$800
39.4% YoY Growth
2-Bed Rent
$800
6.5% YoY Growth
3-Bed Rent
N/A
N/A
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Dowagiac, MI

As of May '26, the median home price in Dowagiac, MI is $232,000, with a year-over-year change of 6.1%. This indicates that home prices in Dowagiac, MI are increasing. According to Zillow, the 1-year price projection is 3.2%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$232,0006.1%
Single Family $233,0005.4%
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
    		$174,0003.0%
    3 Bed
    		$231,0004.1%
    4 Bed
    		$296,0002.1%
    5 Bed N/AN/A
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    % of Housing Stock

    Studio
    1.6%
    1 Bedroom
    9.2%
    2 Bedrooms
    26.0%
    3 Bedrooms
    43.1%
    4 Bedrooms
    14.0%
    5+ Bedrooms
    6.1%

    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.

    TypeMedian RentAverage Rent
    Average Rent$800$888
    Studio Rent N/AN/A
    1 Bed Rent $800$931
    2 Bed Rent $800$800
    3 Bed Rent N/AN/A
    4 Bed Rent N/AN/A
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    % of Rental Stock

    Studio
    6.4%
    1 Bedroom
    23.4%
    2 Bedrooms
    41.2%
    3 Bedrooms
    26.7%
    4 Bedrooms
    1.5%
    5+ Bedrooms
    0.8%

    Property Listings — Dowagiac, MI

    As of May '26, Realtor.com reports that the median days on market for a home in Dowagiac, MI is 77. This is a increase of 14.0% 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 26.0%, representing a large inventory and a lot of supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$327,00018.0%
    Listing Count
    		61-12.0%
    Listings as % of Homes0.6%-12.0%
    Days on Market
    		7714.0%
    Loading chart...

    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.

    MetricLatest CensusYoY % 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%
    Loading chart...

    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

    MetricLatest Census5-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%
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    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

    MetricZip 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%
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    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 SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$30$800$830
    2 Bedroom$160$800$960
    3 BedroomN/AN/A$1,230
    4 BedroomN/AN/A$1,530

    Affordability — Dowagiac, MI

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio3.6
    Median Home Price$232,000
    Median Household Income$55,500

    Dowagiac, MI — ZIP Code Boundary Map

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    Frequently Asked Questions