Portage, Michigan Housing Market Prices
Portage 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 184% above the Michigan median$394,141
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Median rent About the same as the Michigan median$1,133
Housing Market Overview
| Metric | Portage | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $394,141 | $138,713 | $248,835 |
| Price Trend (Annual %) | 24.0% | 8.6% | 7.5% |
| Median Gross Rent | $1,133 | $1,129 | $1,407 |
| Rent Trend (Annual %) | 5.7% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Portage is about 184% higher than in Michigan. Rent follows a similar pattern, running close to 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 Portage, up about 24.0% and 5.7% a year respectively. Home prices are changing faster.
Median rent in Portage rose about 57.3% between 2015 and 2024, from $720 to $1,133. Over the same span, rent in Michigan rose about 44.2%.
Affordability
On average, housing unit costs 4.6 yearly household incomes in Portage.
Buying the median-priced home in Portage costs roughly 29.0 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Portage. The price-to-rent ratio in Michigan is about 10.2.
| Metric | Portage | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $394,141 | $138,713 | $248,835 |
| Median Household Income | $86,377 | $72,977 | $80,455 |
| Price-to-Income Ratio | 4.6 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Portage rose about 467.5%, while median household income rose about 45.9% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Portage | Michigan Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 65.8% | 64.6% | 58.5% |
| Rental Rate | 29.5% | 23.6% | 31.2% |
| Vacancy Rate | 4.7% | 11.8% | 10.2% |
| Median Tenure (years) | 13.0 | 16.0 | 15.0 |
| Median Year Moved In | 2013 | 2010 | 2011 |
Portage has a homeownership rate of 65.8%, higher than the Michigan average of 64.6%. Its housing vacancy rate is 4.7%, compared with 11.8% in Michigan.
Housing Stock
| Metric | Portage | Michigan Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.35 people | 2.42 people | 2.53 people |
| Median Structure Built Year | 1981 | 1972 | 1978 |
| Median Number of Rooms | 6.1 | 5.9 | 5.5 |
The typical housing unit in Portage was built around 1981. On average, 2.4 people live in a home with about 6.1 rooms, staying for about 13.0 years on average.
Portage, MI Housing Compared With Nearby Cities
How Portage, MI compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Portage, MI | 49,224 | $394,141 #1/2 | $1,133 #1/2 | 69.0% #1/2 |
| Kalamazoo, MI | 73,365 | $115,572 | $1,080 | 42.4% |
Frequently Asked Questions
Common questions about the housing market in Portage, Michigan.
What is the median home price in Portage, Michigan?
The median home price in Portage, Michigan is $394,141, higher than the Michigan average of $138,713.
What is the average home price in Portage, Michigan?
The typical home price in Portage, Michigan, reported as the median sale price, is $394,141. 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 Portage, Michigan?
The median gross rent in Portage, Michigan is $1,133 per month, about the same as the Michigan average.
What was the median gross rent in Portage in 2020?
In 2020, the median gross rent in Portage, Michigan was $888 per month.
What is the price-to-rent ratio in Portage, Michigan?
The price-to-rent ratio in Portage, Michigan is about 29.0, meaning it would take roughly 29.0 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Portage.
Are home prices or rent rising faster in Portage, Michigan?
Both home prices and rent are rising in Portage, up about 24.0% and 5.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Portage, Michigan?
65.8% of households in Portage, Michigan own their home, higher than the Michigan average of 64.6%.
What is the vacancy rate in Portage, Michigan?
The housing vacancy rate in Portage, Michigan is 4.7%, lower than the Michigan average of 11.8%.
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