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These days, finding an affordable place to live in the 48316 area can be challenging. Home prices in 48316 are now at a median cost of $322,387, higher than the Michigan average of $196,062.
The average cost of rent is $1,257/mo in 48316, primarily driven by the current value of real estate in the 48316 area. While nearly 35.42% of residents own their homes outright in 48316, 22.23% rent.
Housing affordability isn’t just about home prices, though. The average household income in 48316 is $7,967 per month. Households that rent pay about 15.77% of their income on rent here. 48316's most expensive areas are in the western regions, while the cheapest areas are in the southeastern parts of the zip.
Nearby Zip Codes
- 48094, MI: equally priced homes
- 48317, MI: less expensive homes
- 48307, MI: less expensive homes
- 48315, MI: less expensive homes
- 48306, MI: higher priced homes
- 48314, MI: less expensive homes
- 48095, MI: higher priced homes
- 48309, MI: higher priced homes
- 48042, MI: equally priced homes
- 48085, MI: equally priced homes
Zip Codes with Similar Populations
- 68506, NE: less expensive homes
- 44128, OH: less expensive homes
- 00682, PR: less expensive homes
- 46845, IN: less expensive homes
- 46947, IN: less expensive homes
- 53593, WI: higher priced homes
- 60655, IL: less expensive homes
- 63367, MO: equally priced homes
- 64014, MO: less expensive homes
- 45459, OH: less expensive homes
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