How much is a home worth in ZIP code 49002?

The typical home in 49002 is worth $275,307, based on the Zillow Home Value Index.

Are home values rising in 49002?

Home values in 49002 are up 5.0% over the past year, and up 5.5% a year over five years.

What is the typical rent in 49002?

A typical home in 49002 rents for about $2,024 a month, a gross rental yield of 8.8%.

What is the property tax rate in 49002?

The effective property tax rate in 49002 is 1.4% — roughly $3,988 a year on a typical home.

ZIP code 49002 has a population of 19,737 and a median household income of $73,647.

HousingHandbookReference data

…

U.S. ZIP Code · MI49002

Kalamazoo County · Kalamazoo-Portage, MI

Typical home value

$275,307^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +5.0%
5-year / yr: +5.5%
10-year / yr: +6.4%

Relative price

vs U.S.: -3.1%
vs metro: ≈ metro median
vs state: +15.1%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 49002 is worth $275,307. Over the past year, values have risen 5.0%. Homes here rent for a typical $2,024 a month — a 8.8% gross rental yield. The effective property tax rate is 1.4%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $2,024^[2]
Gross yield: 8.8%^[2]
Cap rate: 5.3%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 1.4%^[3]
Typical annual tax: $3,988^[3]

#Climate risk

FEMA National Risk Index ratings for Kalamazoo County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively Moderate^[4]
Riverine flood: Relatively Moderate
Coastal flood: Not Applicable
Wildfire: Very Low
Drought: No Rating
Heat wave: Relatively Low
Hurricane: Very Low
Tornado: Relatively High
Earthquake: Relatively Low
Winter weather: Relatively Moderate

#Who lives here

Population: 19,737^[3]
Median household income: $73,647^[3]

#Migration

Household moves in and out of Kalamazoo County over a year, from IRS tax-return data.

Net migration: -214^[5]
Moved in: 6,513
Moved out: 6,727

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 5
Elementary: 2
Middle: 1
High: 1

Portage Central High School
High · Grades 9–12 · Portage Public Schools
1,385 students
Portage Central Middle School
Middle · Grades 6–8 · Portage Public Schools
750 students
Lake Center Elementary School
Elementary · Grades PK–5 · Portage Public Schools
516 students
Central Elementary School
Elementary · Grades PK–5 · Portage Public Schools
447 students
WoodsEdge Learning Center
Other · Grades PK–12 · Kalamazoo RESA
220 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield8.8%

Net yield (after ~40% expenses)5.3%

Annual rent$24,289

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$1,392

Loan principal$220,245

Down payment$55,061

Total interest paid$280,911

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio0.97

Monthly cost to own$1,954

Monthly rent$2,024

Owning and renting are roughly even.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 25th percentile^[1]
Rental yield: 88th percentile^[2]
Property tax: 69th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 49002?: The typical home in 49002 is worth $275,307, based on the Zillow Home Value Index.
Are home values rising in 49002?: Home values in 49002 are up 5.0% over the past year, and up 5.5% a year over five years.
What is the typical rent in 49002?: A typical home in 49002 rents for about $2,024 a month, a gross rental yield of 8.8%.
What is the property tax rate in 49002?: The effective property tax rate in 49002 is 1.4% — roughly $3,988 a year on a typical home.
Who lives in 49002?: ZIP code 49002 has a population of 19,737 and a median household income of $73,647.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

49097 vs 49002 →
Vicksburg, MI
Typical home
$280,579
Gross yield
—
49034 vs 49002 →
Battle Creek, MI
Typical home
$264,744
Gross yield
—
49053
Galesburg, MI
Typical home
$287,807
Gross yield
—
49052
MI
Typical home
$254,716
Gross yield
—
49008
Kalamazoo, MI
Typical home
$248,132
Gross yield
5.9%
49006
Kalamazoo, MI
Typical home
$242,469
Gross yield
7.0%

Want similar ZIPs from outside this metro? Browse nationally similar ZIPs →

Compare ZIPs

Pit ZIP 49002 against any other ZIP — full side-by-side table.

Compare 49002 →

#Jump to section

U.S. ZIP Code · MI49002

Get more data on ZIPs like this

Get more data on ZIPs like this