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These days, finding an affordable place to live in the 48003 area can be challenging. Home prices in 48003 are now at a median cost of $313,517, higher than the Michigan average of $250,415.
The average cost of rent is $1,016/mo in 48003, primarily driven by the current value of real estate in the 48003 area. In 48003, 6.93% of households rent, and 35.46% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 48003 is $7,583 per month. Households that rent pay about 13.40% of their income on rent here. 48003’s most expensive areas are in the southwestern regions, while the cheapest areas are in the central parts of the zip.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Zip Codes
- 48428, MI: equally priced homes
- 48002, MI: equally priced homes
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- 48444, MI: less expensive homes
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- 48014, MI: less expensive homes
- 48370, MI: higher priced homes
- 48412, MI: less expensive homes
- 48041, MI: equally priced homes
Zip Codes with Similar Populations
- 01073, MA: higher priced homes
- 67701, KS: less expensive homes
- 65066, MO: less expensive homes
- 61530, IL: less expensive homes
- 55071, MN: equally priced homes
- 53122, WI: higher priced homes
- 51012, IA: less expensive homes
- 49087, MI: equally priced homes
- 48353, MI: equally priced homes
- 46996, IN: less expensive homes
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