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These days, finding an affordable place to live in the 48205 area can be challenging. Home prices in 48205 are now at a median cost of $64,559, lower than the Michigan average of $250,415.
The average cost of rent is $1,243/mo in 48205, primarily driven by the current value of real estate in the 48205 area. In 48205, 49.05% of households rent, and 67.84% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 48205 is $3,465 per month. Households that rent pay about 35.87% of their income on rent here. 48205’s most expensive areas are in the western regions, while the cheapest areas are in the southwestern 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
- 48224, MI: higher priced homes
- 48089, MI: higher priced homes
- 48213, MI: equally priced homes
- 48225, MI: higher priced homes
- 48021, MI: higher priced homes
- 48234, MI: equally priced homes
- 48015, MI: higher priced homes
- 48236, MI: higher priced homes
- 48215, MI: higher priced homes
- 48230, MI: higher priced homes
Zip Codes with Similar Populations
- 17522, PA: higher priced homes
- 48124, MI: higher priced homes
- 46077, IN: higher priced homes
- 43221, OH: higher priced homes
- 40218, KY: higher priced homes
- 37814, TN: higher priced homes
- 34683, FL: higher priced homes
- 33326, FL: higher priced homes
- 32312, FL: higher priced homes
- 30705, GA: higher priced homes
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