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These days, finding an affordable place to live in the 48118 area can be challenging. Home prices in 48118 are now at a median cost of $373,880, higher than the Michigan average of $250,415.
The average cost of rent is $1,737/mo in 48118, primarily driven by the current value of real estate in the 48118 area. In 48118, 20.32% of households rent, and 31.79% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 48118 is $8,680 per month. Households that rent pay about 20.01% of their income on rent here. 48118’s most expensive areas are in the northeastern 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
- 48130, MI: higher priced homes
- 49240, MI: less expensive homes
- 48137, MI: less expensive homes
- 48169, MI: equally priced homes
- 49259, MI: less expensive homes
- 48103, MI: higher priced homes
- 49285, MI: less expensive homes
- 48189, MI: less expensive homes
- 48139, MI: higher priced homes
- 48109, MI: higher priced homes
Zip Codes with Similar Populations
- 71302, LA: less expensive homes
- 39705, MS: less expensive homes
- 44041, OH: less expensive homes
- 00650, PR: less expensive homes
- 46184, IN: less expensive homes
- 49333, MI: less expensive homes
- 49345, MI: less expensive homes
- 59047, MT: higher priced homes
- 60088, IL: equally priced homes
- 60410, IL: less expensive homes
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