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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 75,807 people, 28,996 houses or apartments, and a median cost of homes of $125,425, 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 49.35% of the city's housing units. Other types of housing that are prevalent in Kalamazoo include large apartment complexes or high rise apartments ( 32.62%), duplexes, homes converted to apartments or other small apartment buildings ( 12.27%), and a few row houses and other attached homes ( 4.18%).
People in Kalamazoo primarily live in small (one, two or no bedroom) single-family detached homes. Kalamazoo has a mixture of owner-occupied and renter-occupied housing.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Kalamazoo's housing was primarily built during this period, from the '40s through the '60s. A full 36.01% of the city's housing hails from this era. Other housing ages represented in Kalamazoo include homes built before 1939 ( 28.58%) and housing constructed between 1970-1999 ( 26.91%). There's also some housing in Kalamazoo built between 2000 and later ( 8.50%).
Vacant housing appears to be an issue in Kalamazoo. Fully 11.77% of the housing stock is classified as vacant. Left unchecked, vacant Kalamazoo homes and apartments can be a drag on the real estate market, holding Kalamazoo real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
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 21.59%, which ranks in the top 40% nationwide. This equates to an annual average Kalamazoo house appreciation rate of 1.97%.
NeighborhoodScout's data show that during the latest twelve months, Kalamazoo's appreciation rate, at 3.30%, has been at or slightly above the national average. In the latest quarter, Kalamazoo's appreciation rate has been 0.56%, which annualizes to a rate of 2.25%.
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.
|$954,001 - $1,272,000||0.1|
|$636,001 - $954,000||1.5|
|$508,001 - $636,000||0.7|
|$382,001 - $508,000||3.4|
|$254,001 - $382,000||6.2|
|$127,001 - $254,000||35.2|
|$64,001 - $127,000||30.1|
|$0 - $64,000||22.7|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2019 Q1 - 2019 Q2
Last 12 Months:
2018 Q2 - 2019 Q2
Last 2 Years:
2017 Q2 - 2019 Q2
Last 5 Years:
2014 Q2 - 2019 Q2
Last 10 Years:
2009 Q2 - 2019 Q2
2000 Q1 - 2019 Q2
|* 10 is highest|
|AGE OF Kalamazoo HOMES|
|2000 or Newer||8.5|
|1970 - 1999||26.9|
|1940 - 1969||36.0|
|1939 or Older||28.6|
|TYPE OF Kalamazoo HOMES|
|Small Apt. Buildings||12.3|
|SIZE OF Kalamazoo HOMES|
|5 or more bedrooms||3.22|