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These days, finding an affordable place to live in the 48816 area can be challenging. Home prices in 48816 are now at a median cost of $314,400, higher than the Michigan average of $250,415.
The average cost of rent is $1,287/mo in 48816, primarily driven by the current value of real estate in the 48816 area. In 48816, 24.84% of households rent, and 42.41% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 48816 is $5,893 per month. Households that rent pay about 21.84% of their income on rent here. 48816’s most expensive areas are in the central regions, while the cheapest areas are in the central 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
- 48418, MI: less expensive homes
- 48855, MI: higher priced homes
- 48451, MI: less expensive homes
- 48436, MI: less expensive homes
- 48836, MI: less expensive homes
- 48414, MI: less expensive homes
- 48430, MI: equally priced homes
- 48857, MI: less expensive homes
- 48892, MI: less expensive homes
- 48353, MI: equally priced homes
Zip Codes with Similar Populations
- 78871, TX: less expensive homes
- 58323, ND: less expensive homes
- 58452, ND: less expensive homes
- 58713, ND: less expensive homes
- 59039, MT: less expensive homes
- 60557, IL: less expensive homes
- 74459, OK: less expensive homes
- 77481, TX: higher priced homes
- 77855, TX: less expensive homes
- 78145, TX: less expensive homes
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