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These days, finding an affordable place to live in the 48116 area can be challenging. Home prices in 48116 are now at a median cost of $313,702, higher than the Michigan average of $196,062.
The average cost of rent is $1,150/mo in 48116, primarily driven by the current value of real estate in the 48116 area. While nearly 30.79% of residents own their homes outright in 48116, 9.54% rent.
Housing affordability isn’t just about home prices, though. The average household income in 48116 is $8,613 per month. Households that rent pay about 13.35% of their income on rent here. 48116's most expensive areas are in the northwestern regions, while the cheapest areas are in the northeastern parts of the zip.
Nearby Zip Codes
- 48114, MI: equally priced homes
- 48139, MI: less expensive homes
- 48189, MI: less expensive homes
- 48169, MI: equally priced homes
- 48178, MI: equally priced homes
- 48843, MI: less expensive homes
- 48165, MI: equally priced homes
- 48380, MI: higher priced homes
- 48353, MI: less expensive homes
- 48381, MI: equally priced homes
Zip Codes with Similar Populations
- 04106, ME: equally priced homes
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- 29036, SC: higher priced homes
- 27262, NC: less expensive homes
- 21239, MD: less expensive homes
- 20007, DC: higher priced homes
- 15650, PA: less expensive homes
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