The housing market in 48208 Detroit, MI has a median value of $132,100 which is significantly lower than the US House Median Value of $338,100. The US 1 year House Appreciation rate is 8.27%, whereas the house 1 year appreciation rate in 48208 Detroit, MI is 4.30%. This suggests that the market for housing in this area is not growing as rapidly as other regions in the US, and may be a good opportunity for potential buyers to purchase property at a reasonable price.
The median home cost in Detroit (zip 48208) is $132,100. Home appreciation the last 10 years has been 130.9%. Home Appreciation in Detroit (zip 48208) is up 9.7%.
Average Age of Homes
- The median age of Detroit (zip 48208) real estate is 78 years old
The Rental Market in Detroit (zip 48208)
- Renters make up 45.0% of the Detroit (zip 48208) population
- 2.6% of houses and apartments in Detroit (zip 48208), are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.