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These days, finding an affordable place to live in the 48503 area can be challenging. Home prices in 48503 are now at a median cost of $87,069, lower than the Michigan average of $250,415.
The average cost of rent is $898/mo in 48503, primarily driven by the current value of real estate in the 48503 area. In 48503, 49.13% of households rent, and 57.98% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 48503 is $3,815 per month. Households that rent pay about 23.54% of their income on rent here. 48503’s most expensive areas are in the northern regions, while the cheapest areas are in the southern 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
- 48502, MI: higher priced homes
- 48507, MI: higher priced homes
- 48529, MI: equally priced homes
- 48504, MI: less expensive homes
- 48505, MI: less expensive homes
- 48532, MI: higher priced homes
- 48519, MI: higher priced homes
- 48506, MI: equally priced homes
- 48509, MI: higher priced homes
- 48554, MI: higher priced homes
Zip Codes with Similar Populations
- 99516, AK: higher priced homes
- 43920, OH: higher priced homes
- 85119, AZ: higher priced homes
- 34473, FL: higher priced homes
- 85757, AZ: higher priced homes
- 33852, FL: higher priced homes
- 33184, FL: higher priced homes
- 90717, CA: higher priced homes
- 29488, SC: higher priced homes
- 14206, NY: higher priced homes
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