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Affordable
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These days, finding an affordable place to live in the 48623 area can be challenging. Home prices in 48623 are now at a median cost of $259,315, higher than the Michigan average of $250,415.
The average cost of rent is $1,195/mo in 48623, primarily driven by the current value of real estate in the 48623 area. In 48623, 11.19% of households rent, and 38.48% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 48623 is $8,502 per month. Households that rent pay about 14.06% of their income on rent here. 48623’s most expensive areas are in the central 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
- 48603, MI: less expensive homes
- 48611, MI: less expensive homes
- 48609, MI: less expensive homes
- 48626, MI: less expensive homes
- 48638, MI: less expensive homes
- 48604, MI: less expensive homes
- 48602, MI: less expensive homes
- 48642, MI: less expensive homes
- 48640, MI: less expensive homes
- 48724, MI: less expensive homes
Zip Codes with Similar Populations
- 15243, PA: higher priced homes
- 78121, TX: higher priced homes
- 40204, KY: higher priced homes
- 49348, MI: higher priced homes
- 50311, IA: less expensive homes
- 53129, WI: higher priced homes
- 55077, MN: higher priced homes
- 55387, MN: higher priced homes
- 59840, MT: higher priced homes
- 60429, IL: less expensive homes
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