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These days, finding an affordable place to live in the 48416 area can be challenging. Home prices in 48416 are now at a median cost of $203,084, lower than the Michigan average of $250,415.
The average cost of rent is $803/mo in 48416, primarily driven by the current value of real estate in the 48416 area. In 48416, 14.51% of households rent, and 43.06% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 48416 is $5,581 per month. Households that rent pay about 14.39% of their income on rent here. 48416’s most expensive areas are in the southwestern 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
- 48454, MI: equally priced homes
- 48453, MI: less expensive homes
- 48466, MI: less expensive homes
- 48097, MI: equally priced homes
- 48727, MI: less expensive homes
- 48461, MI: equally priced homes
- 48760, MI: equally priced homes
- 48422, MI: less expensive homes
- 48435, MI: less expensive homes
- 48401, MI: less expensive homes
Zip Codes with Similar Populations
- 14787, NY: less expensive homes
- 11952, NY: higher priced homes
- 12084, NY: higher priced homes
- 12446, NY: higher priced homes
- 12498, NY: higher priced homes
- 12522, NY: higher priced homes
- 12845, NY: higher priced homes
- 12883, NY: less expensive homes
- 12887, NY: less expensive homes
- 12992, NY: less expensive homes
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