Housing sales in Greater Kalamazoo through April 2004 showed no signs of slowing down compared with 2003 figures. “Last year was a record year for sales,” said Michigan Association of REALTORS® President Gil White. “We are close to that level again; meaning the market is still active, and it’s a good time to buy. We encourage anyone who is interested in selling or buying a home to contact a REALTOR®, because now is the time to do it.”
The booming housing market in the region over the past few years is unprecedented — but not surprising, especially when you consider all the kudos Western Michigan has received of late. The region has actively worked to position itself as a mecca for young professionals, and efforts have paid off. Over 52 percent of the population is under the age of 35, compared to 49 percent for the rest of the United States.
Check out just a few of the incentives drawing people to Kalamazoo and Western Michigan:
• West Michigan placed in the top 100 of regions with the greatest wireless Internet accessibility, according to Intel’s Most Unwired Cities 2003 survey.
• Places Rated Almanac ranks the area number three for recreation, with abundant opportunities to enjoy golf, camping, water sports and winter recreation.
• According to the Michigan Department of Labor and Economic Growth, the job market in West Michigan has grown 19 percent over the last 10 years.
• The region is ranked 12th in the nation in the biopharmaceuticals industry.
• Michigan’s Cool Cities Initiative grants program for economic development allows potential residents to sound off on what aspects they think make a community a great place to live, work and play.
• Kalamazoo’s cost of living, indexed at approximately 95.2, compares very favorably to the national average of 100.
• The region is among the top 50 in the Creative Class rankings compiled by Richard Florida, author of The Rise of the Creative Class. This ranking is based on the region’s growing number of individuals who produce new ideas, technology and creative content for a living. Creative centers are projected to be the future’s big economic winners in years to come.
• Over 70 percent of the workforce commute less than 25 minutes to work.
• Kalamazoo offers outstanding city amenities, programs and services, like an active recycling program, a fiber optic network and a “SmartZone” to encourage technology-driven business development and job creation.
Kalamazoo has capitalized on these advantages, undergoing a renaissance that has brought the city more employment, shopping, dining, cultural and entertainment options than ever before. And new Kalamazoo residents will find an abundance of housing choices when they relocate to this 21st-century hotspot.
Historic homes and neighborhoods bring an ambience and heritage that’s increasingly valued. An explosion of growth in Kalamazoo at the height of the Industrial Revolution saw abundant construction of businesses and homes all over the city. Many of these historic structures have been preserved. The Stuart Avenue, South Street and Vine areas are Historic Districts and showcase many striking early 1900s homes. The city’s broad sweep of architectural styles includes Gothic, Italianate, Greek Revival, Sullivanesque and Queen Anne. Frank Lloyd Wright built several of his Usonian-style homes in Parkwyn Village and other areas of Kalamazoo.
Perhaps nowhere is the city’s renaissance more vibrant and visible than the downtown district, which draws thousands of residents and tourists each year to enjoy unique shopping, outstanding cuisine in a variety of eclectic eateries, and countless arts, cultural and entertainment events. With all that is happening downtown, it has naturally followed that the district has become a highly desirable residential area as well. Condominiums, lofts and apartments are breathing new life into some of Kalamazoo’s oldest historic buildings along South Street, East Michigan, on the Kalamazoo Mall, at Rose and Lovell, at South and Burdick, and other locations. There are more than 400 units and 1,000 residents — and the numbers are growing. Renovated and redecorated to emphasize the beauty of high ceilings, large windows, balconies and rooftop gardens, these living spaces are a perfect blend of history and contemporary conveniences. Downtown residents can walk to work or to their favorite restaurants and stores, go for a run in Bronson Park, and form close, intimate neighborhoods. Theaters, art galleries and museums; the award-winning public library; festivals; and sports are all just around the corner.
Kalamazoo has a variety of homes all around the city for families at every stage of income and size. There are starter homes in the $70,000 range. Mid-range homes of between $100,000 and $150,000 are generally large in size and often feature amenities like three or more bedrooms, central air and even in-ground pools. A brand-new, state-of-the-art home in a desirable neighborhood can be found for under $200,000. The average selling price of a home in the city is $145,608. There are plenty of apartments and rental homes, as well, with an average monthly rent of $660 for a two-bedroom apartment.
Kalamazoo Quick Facts
ECONOMY
(Kalamazoo • U.S. Average)
Unemployment rate • 3.4% • 4.0%
Recent job growth • 3.1% • 2.6%
Sales taxes • 6.00% • 6.35%
Income taxes • 4.40% • 4.60%
COST OF LIVING
(Kalamazoo • U.S. Average)
Overall • 95.2 • 100.0
Housing • 87.7 • 100.0
Transportation • 97.0 • 100.0
Utilities • 84.2 • 100.0
Health • 100.0 • 100.0
Miscellaneous • 98.6 • 100.0
HOUSING
(Kalamazoo • U.S. Average)
Median home cost • $102,040 • $146,102
Home cost index • 87.7 • 100.0
EDUCATION
(Kalamazoo • U.S. Average)
High school graduate • 82.1% • 79.5%
Two-year college graduate • 8.0% • 7.6%
Four-year college graduate • 21.2% • 17.3%
Ph.D. graduate • 14.4% • 8.5%
Achievement index (10 = best) • 6.7 • 5.1
Source: Sperling’s Best Places
