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These days, finding an affordable place to live in the 48640 area can be challenging. Home prices in 48640 are now at a median cost of $161,736, lower than the Michigan average of $196,062.
The average cost of rent is $859/mo in 48640, primarily driven by the current value of real estate in the 48640 area. While nearly 42.23% of residents own their homes outright in 48640, 21.88% rent.
Housing affordability isn’t just about home prices, though. The average household income in 48640 is $6,567 per month. Households that rent pay about 13.08% of their income on rent here. 48640's most expensive areas are in the southwestern regions, while the cheapest areas are in the eastern parts of the zip.
Nearby Zip Codes
- 48642, MI: equally priced homes
- 48657, MI: equally priced homes
- 48611, MI: less expensive homes
- 48623, MI: higher priced homes
- 48628, MI: less expensive homes
- 48620, MI: less expensive homes
- 48631, MI: equally priced homes
- 48634, MI: less expensive homes
- 48618, MI: less expensive homes
- 48706, MI: less expensive homes
Zip Codes with Similar Populations
- 48091, MI: less expensive homes
- 33445, FL: higher priced homes
- 90230, CA: higher priced homes
- 57401, SD: higher priced homes
- 60517, IL: higher priced homes
- 77327, TX: less expensive homes
- 80923, CO: higher priced homes
- 84075, UT: higher priced homes
- 90028, CA: higher priced homes
- 90222, CA: higher priced homes
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