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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Kalkaska, MI Real Estate Market

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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

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

Kalkaska, MI Housing Market Trends

With a population of 2,209, 1,082 total housing units (homes and apartments), and a median house value of $197,170, house prices in Kalkaska are solidly below the national average.

Single-family detached homes are the single most common housing type in Kalkaska, accounting for 62.02% of the village's housing units. Other types of housing that are prevalent in Kalkaska include large apartment complexes or high rise apartments ( 28.55%), mobile homes or trailers ( 5.61%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.31%).

People in Kalkaska primarily live in small (one, two or no bedroom) single-family detached homes. Kalkaska has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Kalkaska 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 Kalkaska built between 1940-1969 ( 28.89%). A lesser amount of the housing stock also hails from before 1939 ( 23.19%). There's also some housing in Kalkaska built between 2000 and later ( 7.31%).

Kalkaska Home Appreciation Rates

In the last 10 years, Kalkaska has experienced some of the highest home appreciation rates of any community in the nation. Kalkaska real estate appreciated 136.85% over the last ten years, which is an average annual home appreciation rate of 9.01%, putting Kalkaska in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Kalkaska definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Kalkaska that despite a nationwide downturn in the housing market, Kalkaska real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Kalkaska appreciation rates continue to be some of the highest in America, at 7.90%, which is higher than appreciation rates in 86.32% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Kalkaska. Kalkaska appreciation rates in the latest quarter were at 2.30%, which equates to an annual appreciation rate of 9.51%.

Importantly, this makes Kalkaska one of the highest appreciating communities in the nation for the latest quarter, and may signal the village's near-future real estate investment strength.

Relative to Michigan, our data show that Kalkaska's latest annual appreciation rate is higher than 90% of the other cities and towns in Michigan.

Average Home Values

Median Home Value

$197,170

Kalkaska, MI Home Prices
> $1,461,000
$1,096,001 - $1,461,000
$731,001 - $1,096,000
$585,001 - $731,000
$439,001 - $585,000
$292,001 - $439,000
$146,001 - $292,000
$73,001 - $146,000
$0 - $73,000
0.1%
0.1%
0.4%
0.4%
0.6%
0.6%
0.9%
0.9%
5.8%
5.8%
13.6%
13.6%
51.0%
51.0%
18.7%
18.7%
8.9%
8.9%
0% 100.0%
% of Homes
Low

for Michigan

Low

for nation

Number of Homes And Apartments:

1,082

Kalkaska Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,189 / per month

Homeownership Rate

Owners
Renters
52.1%
52.1%
47.9%
47.9%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
8.1%
8.1%
91.9%
91.9%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
7.3%
7.3%
40.6%
40.6%
28.9%
28.9%
23.2%
23.2%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
62.0%
62.0%
0.5%
0.5%
3.3%
3.3%
28.5%
28.5%
5.6%
5.6%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.9%
0.9%
15.1%
15.1%
36.4%
36.4%
39.3%
39.3%
6.3%
6.3%
2.0%
2.0%
0% 100.0%
% of Homes