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These days, finding an affordable place to live in the 48023 area can be challenging. Home prices in 48023 are now at a median cost of $216,874, lower than the Michigan average of $250,415.
The average cost of rent is $1,312/mo in 48023, primarily driven by the current value of real estate in the 48023 area. In 48023, 19.63% of households rent, and 48.12% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 48023 is $6,227 per month. Households that rent pay about 21.07% of their income on rent here. 48023’s most expensive areas are in the southwestern regions, while the cheapest areas are in the northern 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
- 48064, MI: higher priced homes
- 48047, MI: higher priced homes
- 48048, MI: less expensive homes
- 48001, MI: higher priced homes
- 48039, MI: equally priced homes
- 48051, MI: equally priced homes
- 48028, MI: higher priced homes
- 48050, MI: higher priced homes
- 48054, MI: higher priced homes
- 48045, MI: higher priced homes
Zip Codes with Similar Populations
- 22849, VA: equally priced homes
- 79027, TX: less expensive homes
- 78947, TX: higher priced homes
- 78263, TX: higher priced homes
- 25951, WV: less expensive homes
- 25545, WV: equally priced homes
- 25510, WV: less expensive homes
- 25506, WV: less expensive homes
- 25159, WV: less expensive homes
- 24801, WV: less expensive homes
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