Metropolitan Statistical Area (MSA):
Kalamazoo-Portage, MI is a Metropolitan Statistical Area (MSA) comprising counties including .
There is no doubt that the Kalamazoo-Portage metropolitan statistical area (MSA) is a hotbed for real estate activity. The combination of a strong economy, low unemployment rate, and affordable housing costs have made the MSA one of the most desirable places to live in Michigan.
One of the most notable trends in the Kalamazoo-Portage MSA is the continued rise in home prices. According to data from the National Association of Realtors, the median home price in the MSA has increased by nearly 5% over the past year, and is now just over $200,000. This trend is being driven by strong demand from buyers, who are attracted to the area's strong job market and quality of life.
Another trend that is having an impact on the real estate market in Kalamazoo-Portage is the increasing number of people moving to the area from other parts of Michigan. This migration is being driven by a desire to live in a more affordable community that still offers access to good jobs and amenities. As a result of this influx of new residents, we are seeing an increase in demand for both rental properties and single-family homes.
Overall, it is clear that Kalamazoo-Portage continues to be a desirable place to live, work, and raise a family. The combination of strong economic conditions and affordable housing costs are making it an attractive option for many people looking for a new place to call home.