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These days, finding an affordable place to live in the 48840 area can be challenging. Home prices in 48840 are now at a median cost of $198,397, higher than the Michigan average of $196,062.
The average cost of rent is $859/mo in 48840, primarily driven by the current value of real estate in the 48840 area. While nearly 33.64% of residents own their homes outright in 48840, 39.12% rent.
Housing affordability isn’t just about home prices, though. The average household income in 48840 is $5,947 per month. Households that rent pay about 14.44% of their income on rent here. 48840's most expensive areas are in the southern regions, while the cheapest areas are in the southwestern parts of the zip.
Nearby Zip Codes
- 48864, MI: higher priced homes
- 48823, MI: equally priced homes
- 48824, MI: less expensive homes
- 48808, MI: higher priced homes
- 48825, MI: less expensive homes
- 48912, MI: less expensive homes
- 48895, MI: higher priced homes
- 48933, MI: less expensive homes
- 48906, MI: less expensive homes
- 48910, MI: less expensive homes
Zip Codes with Similar Populations
- 06355, CT: higher priced homes
- 06424, CT: higher priced homes
- 10520, NY: higher priced homes
- 39475, MS: less expensive homes
- 67219, KS: less expensive homes
- 64505, MO: equally priced homes
- 55442, MN: higher priced homes
- 48801, MI: less expensive homes
- 48122, MI: less expensive homes
- 45415, OH: less expensive homes
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