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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.



Portage, 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 Q3 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2021 (latest available). Updated annually.

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

Portage, MI Housing Market Trends

With a population of 48,978, 20,326 total housing units (homes and apartments), and a median house value of $284,386, Portage real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Portage, accounting for 67.06% of the city's housing units. Other types of housing that are prevalent in Portage include large apartment complexes or high rise apartments ( 21.41%), row houses and other attached homes ( 6.95%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.38%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Portage. Owner-occupied housing accounts for 66.71% of Portage's homes, and 58.76% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Portage 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 Portage built between 1940-1969 ( 34.20%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.98%). There's also some housing in Portage built before 1939 ( 3.81%).

Portage Home Appreciation Rates

Appreciation rates for homes in Portage have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 89.93%, which ranks in the top 40% nationwide. This equates to an annual average Portage house appreciation rate of 6.63%.

Over the last year, Portage appreciation rates have trailed the rest of the nation. In the last twelve months, Portage'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 Portage were at 6.32%, which equates to an annual appreciation rate of 27.76%.

Importantly, NeighborhoodScout’s exclusive research found that Portage's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.

Relative to Michigan, our data show that Portage's latest annual appreciation rate is lower than 60% 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 Portage differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Portage - 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 Portage real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$284,386

Portage, MI Home Prices
> $1,390,000
$1,043,001 - $1,390,000
$695,001 - $1,043,000
$556,001 - $695,000
$417,001 - $556,000
$278,001 - $417,000
$139,001 - $278,000
$69,001 - $139,000
$0 - $69,000
0.2%
0.2%
0.6%
0.6%
3.5%
3.5%
3.7%
3.7%
9.4%
9.4%
27.1%
27.1%
45.4%
45.4%
7.1%
7.1%
2.8%
2.8%
0% 100.0%
% of Homes
High

for Michigan

High

for nation

Number of Homes And Apartments:

20,326

Portage Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,965 / per month

Homeownership Rate

Owners
Renters
Vacant
66.7%
66.7%
33.3%
33.3%
5.5%
5.5%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
18.0%
18.0%
44.0%
44.0%
34.2%
34.2%
3.8%
3.8%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
67.1%
67.1%
7.0%
7.0%
3.4%
3.4%
21.4%
21.4%
1.1%
1.1%
0.1%
0.1%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.8%
1.8%
12.9%
12.9%
20.6%
20.6%
37.7%
37.7%
21.1%
21.1%
6.0%
6.0%
0% 100.0%
% of Homes