Kalamazoo, Michigan Housing Market Prices
Kalamazoo Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 17% below the Michigan median$115,572
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Median rent 4% below the Michigan median$1,080
Housing Market Overview
| Metric | Kalamazoo | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $115,572 | $138,713 | $248,835 |
| Price Trend (Annual %) | 14.0% | 8.6% | 7.5% |
| Median Gross Rent | $1,080 | $1,129 | $1,407 |
| Rent Trend (Annual %) | 5.3% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Kalamazoo is about 17% lower than in Michigan. Rent is about 4% lower than the Michigan average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Kalamazoo, up about 14.0% and 5.3% a year respectively. Home prices are changing faster.
Median rent in Kalamazoo rose about 52.8% between 2015 and 2024, from $707 to $1,080. Over the same span, rent in Michigan rose about 44.2%.
Affordability
On average, housing unit costs 2.2 yearly household incomes in Kalamazoo.
Buying the median-priced home in Kalamazoo costs roughly 8.9 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Kalamazoo. The price-to-rent ratio in Michigan is about 10.2.
| Metric | Kalamazoo | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $115,572 | $138,713 | $248,835 |
| Median Household Income | $52,381 | $72,977 | $80,455 |
| Price-to-Income Ratio | 2.2 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Kalamazoo rose about 56.5%, while median household income rose about 70.2% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Kalamazoo | Michigan Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 38.7% | 64.6% | 58.5% |
| Rental Rate | 52.5% | 23.6% | 31.2% |
| Vacancy Rate | 8.8% | 11.8% | 10.2% |
| Median Tenure (years) | 10.0 | 16.0 | 15.0 |
| Median Year Moved In | 2016 | 2010 | 2011 |
Kalamazoo has a homeownership rate of 38.7%, lower than the Michigan average of 64.6%. Its housing vacancy rate is 8.8%, compared with 11.8% in Michigan.
Housing Stock
| Metric | Kalamazoo | Michigan Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.26 people | 2.42 people | 2.53 people |
| Median Structure Built Year | 1961 | 1972 | 1978 |
| Median Number of Rooms | 5.3 | 5.9 | 5.5 |
The typical housing unit in Kalamazoo was built around 1961. On average, 2.3 people live in a home with about 5.3 rooms, staying for about 10.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Kalamazoo, Michigan.
What is the median home price in Kalamazoo, Michigan?
The median home price in Kalamazoo, Michigan is $115,572, lower than the Michigan average of $138,713.
What is the average home price in Kalamazoo, Michigan?
The typical home price in Kalamazoo, Michigan, reported as the median sale price, is $115,572. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Kalamazoo, Michigan?
The median gross rent in Kalamazoo, Michigan is $1,080 per month, lower than the Michigan average of $1,129.
What was the median gross rent in Kalamazoo in 2020?
In 2020, the median gross rent in Kalamazoo, Michigan was $825 per month.
What is the price-to-rent ratio in Kalamazoo, Michigan?
The price-to-rent ratio in Kalamazoo, Michigan is about 8.9, meaning it would take roughly 8.9 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Kalamazoo.
Are home prices or rent rising faster in Kalamazoo, Michigan?
Both home prices and rent are rising in Kalamazoo, up about 14.0% and 5.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Kalamazoo, Michigan?
38.7% of households in Kalamazoo, Michigan own their home, lower than the Michigan average of 64.6%.
What is the vacancy rate in Kalamazoo, Michigan?
The housing vacancy rate in Kalamazoo, Michigan is 8.8%, lower than the Michigan average of 11.8%.
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