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These days, finding an affordable place to live in the 48005 area can be challenging. Home prices in 48005 are now at a median cost of $258,583, higher than the Michigan average of $196,062.
The average cost of rent is $995/mo in 48005, primarily driven by the current value of real estate in the 48005 area. While nearly 26.58% of residents own their homes outright in 48005, 7.10% rent.
Housing affordability isn’t just about home prices, though. The average household income in 48005 is $7,917 per month. Households that rent pay about 12.57% of their income on rent here. 48005's most expensive areas are in the southwestern regions, while the cheapest areas are in the southeastern parts of the zip.
Nearby Zip Codes
- 48002, MI: equally priced homes
- 48065, MI: equally priced homes
- 48096, MI: higher priced homes
- 48050, MI: equally priced homes
- 48062, MI: less expensive homes
- 48041, MI: equally priced homes
- 48095, MI: higher priced homes
- 48003, MI: equally priced homes
- 48048, MI: less expensive homes
- 48094, MI: higher priced homes
Zip Codes with Similar Populations
- 22936, VA: higher priced homes
- 79088, TX: less expensive homes
- 79035, TX: less expensive homes
- 78390, TX: less expensive homes
- 28073, NC: less expensive homes
- 28018, NC: less expensive homes
- 27708, NC: equally priced homes
- 27299, NC: less expensive homes
- 25670, WV: less expensive homes
- 24482, VA: less expensive homes
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