Housing in Detroit is quite different from the rest of the United States. In Detroit's 48209 zip code, the median value for a house is $65,300 compared to the US median value of $338,100. The US housing appreciation rate over the last year has been 8.27%, whereas for Detroit it has been 4.30%. This indicates that while housing prices are still increasing in Detroit, they are doing so at a much slower rate than the rest of the country.
The median home cost in Detroit (zip 48209) is $65,300. Home appreciation the last 10 years has been 130.9%. Home Appreciation in Detroit (zip 48209) is up 9.7%.
Average Age of Homes
- The median age of Detroit (zip 48209) real estate is 78 years old
The Rental Market in Detroit (zip 48209)
- Renters make up 39.1% of the Detroit (zip 48209) population
- 2.3% of houses and apartments in Detroit (zip 48209), 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.