Kalamazoo MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Kalamazoo, MI Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q3 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Kalamazoo Housing Market Information

With 76,200 people, 2,209 houses or apartments, and a median cost of homes of $138,212, house prices in Kalamazoo are solidly below the national average.

Single-family detached homes are the single most common housing type in Kalamazoo, accounting for 58.38% of the city's housing units. Other types of housing that are prevalent in Kalamazoo include large apartment complexes or high rise apartments ( 26.03%), duplexes, homes converted to apartments or other small apartment buildings ( 8.01%), and a few row houses and other attached homes ( 4.40%).

The most prevalent building size and type in Kalamazoo are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 55.49% owning and 44.51% renting.

There is a lot of housing in Kalamazoo built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Kalamazoo built between 1940-1969 ( 31.71%). A lesser amount of the housing stock also hails from before 1939 ( 16.95%). There's also some housing in Kalamazoo built between 2000 and later ( 14.22%).

Kalamazoo Home Appreciation Rates

Appreciation rates for homes in Kalamazoo have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 41.18%, which ranks in the top 30% nationwide. This equates to an annual average Kalamazoo house appreciation rate of 3.51%.

Over the last year, Kalamazoo appreciation rates have trailed the rest of the nation. In the last twelve months, Kalamazoo's appreciation rate has been 3.16%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Kalamazoo were at 1.30%, which equates to an annual appreciation rate of 5.29%.

Relative to Michigan, our data show that Kalamazoo's latest annual appreciation rate is lower than 70% of the other cities and towns in Michigan.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Kalamazoo differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Kalamazoo - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Kalamazoo real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$138,212

Kalamazoo, MI HOME PRICES

Value Range
> $1,261,000 0.2
$946,001 - $1,261,000 0.1
$630,001 - $946,000 2.0
$505,001 - $630,000 1.0
$378,001 - $505,000 4.6
$252,001 - $378,000 7.5
$126,001 - $252,000 35.5
$63,001 - $126,000 29.3
$0 - $63,000 20.0

Low for MI
Low for Nation

Value Relative to Nation Value Relative to State
67.3343065693431 62.5

Number Of Homes And Apartments:
2,209

Kalamazoo Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2020 Q2 - 2020 Q3
Last 12 Months:
2019 Q3 - 2020 Q3
Last 2 Years:
2018 Q3 - 2020 Q3
Last 5 Years:
2015 Q3 - 2020 Q3
Last 10 Years:
2010 Q3 - 2020 Q3
Since 2000:
2000 Q1 - 2020 Q3
39.93% 1.63%
7
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$990 / per month

Homeownership Rate

Homeownership
Owners 55.49
Renters 44.51
Vacant 8.88

Housing Market Details

 

Age of Homes

AGE OF Kalamazoo HOMES
2000 or Newer 14.2
1970 - 1999 37.1
1940 - 1969 31.7
1939 or Older 16.9

Types of Homes

TYPE OF Kalamazoo HOMES
Single-Family 58.4
Townhomes 4.4
Small Apt. Buildings 8.0
Apt. Complexes 26.0
Mobile Homes 3.1
Other 0.0

Home Size

SIZE OF Kalamazoo HOMES
No Bedroom 2.09
1 Bedroom 13.53
2 Bedrooms 29.52
3 Bedrooms 34.13
4 Bedrooms 16.40
5 or more bedrooms 4.33