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These days, finding an affordable place to live in the 48506 area can be challenging. Home prices in 48506 are now at a median cost of $92,170, lower than the Michigan average of $250,415.
The average cost of rent is $996/mo in 48506, primarily driven by the current value of real estate in the 48506 area. In 48506, 31.11% of households rent, and 56.47% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 48506 is $4,404 per month. Households that rent pay about 22.62% of their income on rent here. 48506’s most expensive areas are in the northeastern regions, while the cheapest areas are in the southwestern 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
- 48509, MI: higher priced homes
- 48505, MI: less expensive homes
- 48437, MI: higher priced homes
- 48502, MI: higher priced homes
- 48503, MI: equally priced homes
- 48519, MI: higher priced homes
- 48458, MI: equally priced homes
- 48504, MI: less expensive homes
- 48423, MI: higher priced homes
- 48529, MI: equally priced homes
Zip Codes with Similar Populations
- 06830, CT: higher priced homes
- 95054, CA: higher priced homes
- 94609, CA: higher priced homes
- 94547, CA: higher priced homes
- 91411, CA: higher priced homes
- 89120, NV: higher priced homes
- 80439, CO: higher priced homes
- 45420, OH: higher priced homes
- 35806, AL: higher priced homes
- 33950, FL: higher priced homes
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