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These days, finding an affordable place to live in the 48507 area can be challenging. Home prices in 48507 are now at a median cost of $94,295, lower than the Michigan average of $196,062.
The average cost of rent is $828/mo in 48507, primarily driven by the current value of real estate in the 48507 area. While nearly 46.53% of residents own their homes outright in 48507, 42.77% rent.
Housing affordability isn’t just about home prices, though. The average household income in 48507 is $3,757 per month. Households that rent pay about 22.04% of their income on rent here. 48507's most expensive areas are in the central regions, while the cheapest areas are in the northwestern parts of the zip.
Nearby Zip Codes
- 48529, MI: less expensive homes
- 48503, MI: less expensive homes
- 48502, MI: equally priced homes
- 48519, MI: equally priced homes
- 48439, MI: higher priced homes
- 48532, MI: higher priced homes
- 48554, MI: higher priced homes
- 48504, MI: less expensive homes
- 48509, MI: higher priced homes
- 48505, MI: less expensive homes
Zip Codes with Similar Populations
- 02720, MA: higher priced homes
- 98498, WA: higher priced homes
- 07112, NJ: higher priced homes
- 11803, NY: higher priced homes
- 88203, NM: higher priced homes
- 62002, IL: higher priced homes
- 63052, MO: higher priced homes
- 75604, TX: higher priced homes
- 77385, TX: higher priced homes
- 77590, TX: higher priced homes
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