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These days, finding an affordable place to live in the 48240 area can be challenging. Home prices in 48240 are now at a median cost of $89,776, lower than the Michigan average of $196,062.
The average cost of rent is $1,181/mo in 48240, primarily driven by the current value of real estate in the 48240 area. While nearly 41.16% of residents own their homes outright in 48240, 28.78% rent.
Housing affordability isn’t just about home prices, though. The average household income in 48240 is $4,597 per month. Households that rent pay about 25.69% of their income on rent here. 48240's most expensive areas are in the southern regions, while the cheapest areas are in the western parts of the zip.
Nearby Zip Codes
- 48219, MI: less expensive homes
- 48033, MI: higher priced homes
- 48152, MI: higher priced homes
- 48336, MI: higher priced homes
- 48239, MI: higher priced homes
- 48223, MI: less expensive homes
- 48154, MI: higher priced homes
- 48075, MI: higher priced homes
- 48034, MI: higher priced homes
- 48235, MI: less expensive homes
Zip Codes with Similar Populations
- 11030, NY: higher priced homes
- 70427, LA: higher priced homes
- 34474, FL: higher priced homes
- 34695, FL: higher priced homes
- 36527, AL: higher priced homes
- 00656, PR: less expensive homes
- 37813, TN: higher priced homes
- 38372, TN: higher priced homes
- 40962, KY: less expensive homes
- 43952, OH: higher priced homes
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