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These days, finding an affordable place to live in the 48616 area can be challenging. Home prices in 48616 are now at a median cost of $123,070, lower than the Michigan average of $196,062.
The average cost of rent is $681/mo in 48616, primarily driven by the current value of real estate in the 48616 area. While nearly 48.22% of residents own their homes outright in 48616, 17.58% rent.
Housing affordability isn’t just about home prices, though. The average household income in 48616 is $4,577 per month. Households that rent pay about 14.87% of their income on rent here. 48616's most expensive areas are in the northwestern regions, while the cheapest areas are in the northern parts of the zip.
Nearby Zip Codes
- 48649, MI: equally priced homes
- 48460, MI: higher priced homes
- 48655, MI: equally priced homes
- 48841, MI: higher priced homes
- 48417, MI: higher priced homes
- 48614, MI: equally priced homes
- 48457, MI: equally priced homes
- 48807, MI: less expensive homes
- 48831, MI: equally priced homes
- 48433, MI: higher priced homes
Zip Codes with Similar Populations
- 78543, TX: less expensive homes
- 15332, PA: higher priced homes
- 15658, PA: higher priced homes
- 16438, PA: equally priced homes
- 17327, PA: higher priced homes
- 17368, PA: higher priced homes
- 28090, NC: equally priced homes
- 30415, GA: higher priced homes
- 30546, GA: higher priced homes
- 30553, GA: higher priced homes
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