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These days, finding an affordable place to live in the 48340 area can be challenging. Home prices in 48340 are now at a median cost of $95,624, lower than the Michigan average of $196,062.
The average cost of rent is $948/mo in 48340, primarily driven by the current value of real estate in the 48340 area. While nearly 48.38% of residents own their homes outright in 48340, 55.89% rent.
Housing affordability isn’t just about home prices, though. The average household income in 48340 is $3,637 per month. Households that rent pay about 26.06% of their income on rent here. 48340's most expensive areas are in the central regions, while the cheapest areas are in the northern parts of the zip.
Nearby Zip Codes
- 48342, MI: less expensive homes
- 48326, MI: higher priced homes
- 48341, MI: equally priced homes
- 48359, MI: higher priced homes
- 48328, MI: higher priced homes
- 48320, MI: higher priced homes
- 48329, MI: higher priced homes
- 48360, MI: higher priced homes
- 48309, MI: higher priced homes
- 48302, MI: higher priced homes
Zip Codes with Similar Populations
- 06514, CT: higher priced homes
- 47302, IN: less expensive homes
- 38138, TN: higher priced homes
- 32223, FL: higher priced homes
- 30071, GA: higher priced homes
- 28152, NC: higher priced homes
- 24551, VA: higher priced homes
- 19802, DE: higher priced homes
- 11795, NY: higher priced homes
- 10541, NY: higher priced homes
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