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These days, finding an affordable place to live in the 48740 area can be challenging. Home prices in 48740 are now at a median cost of $163,430, lower than the Michigan average of $250,415.
The average cost of rent is $760/mo in 48740, primarily driven by the current value of real estate in the 48740 area. In 48740, 15.30% of households rent, and 57.57% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 48740 is $4,132 per month. Households that rent pay about 18.39% of their income on rent here. 48740’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
- 48742, MI: equally priced homes
- 48738, MI: equally priced homes
- 48745, MI: less expensive homes
- 48705, MI: less expensive homes
- 48737, MI: less expensive homes
- 48728, MI: less expensive homes
- 48761, MI: less expensive homes
- 48621, MI: less expensive homes
- 48647, MI: less expensive homes
- 48636, MI: less expensive homes
Zip Codes with Similar Populations
- 56551, MN: higher priced homes
- 38080, TN: less expensive homes
- 38642, MS: equally priced homes
- 39096, MS: less expensive homes
- 39854, GA: less expensive homes
- 40078, KY: higher priced homes
- 40440, KY: less expensive homes
- 44611, OH: higher priced homes
- 03447, NH: higher priced homes
- 53576, WI: higher priced homes
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