49008, Kalamazoo, MI

The Kalamazoo zip code 49008 has a population of around 97,000 and is located in the southwestern corner of Michigan. Home prices in this zip code have increased significantly over the past few years, with the median home price reaching $163,000 as of September 2017. This high home value is likely due to the strong economy and low unemployment rate in Kalamazoo.

Home equity is a key factor in homeownership and home prices. In Kalamazoo, approximately two-thirds (66%) of households own their homes outright or have a mortgage that does not require monthly payments. This high level of homeownership contributes to the high home values in this zip code. Additionally, there are relatively few homes for sale in this area, which also contributes to the elevated prices.

While there are many reasons why home prices have increased so much in Kalamazoo over the past few years, it is important to keep in mind that market conditions can change quickly and without warning. If you are thinking about buying or selling a home in this area, it is important to consult with an experienced real estate agent who can help you understand all of your options and make sure you get a fair deal on your dream home.