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These days, finding an affordable place to live in the 48047 area can be challenging. Home prices in 48047 are now at a median cost of $316,193, higher than the Michigan average of $250,415.
The average cost of rent is $1,193/mo in 48047, primarily driven by the current value of real estate in the 48047 area. In 48047, 18.33% of households rent, and 32.35% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 48047 is $8,476 per month. Households that rent pay about 14.08% of their income on rent here. 48047’s most expensive areas are in the southeastern regions, while the cheapest areas are in the western 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
- 48051, MI: less expensive homes
- 48048, MI: less expensive homes
- 48023, MI: less expensive homes
- 48045, MI: less expensive homes
- 48043, MI: less expensive homes
- 48050, MI: equally priced homes
- 48042, MI: higher priced homes
- 48064, MI: less expensive homes
- 48044, MI: higher priced homes
- 48036, MI: less expensive homes
Zip Codes with Similar Populations
- 30060, GA: equally priced homes
- 79763, TX: less expensive homes
- 80601, CO: higher priced homes
- 37363, TN: higher priced homes
- 85132, AZ: equally priced homes
- 85251, AZ: higher priced homes
- 85756, AZ: less expensive homes
- 32955, FL: higher priced homes
- 32817, FL: higher priced homes
- 32780, FL: less expensive homes
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