Zip 48227 (Detroit, MI) Housing

The housing in 48227 Detroit, MI is significantly lower than the US median value of $338,100. The median value of housing in this area is only $64,700. While the US has experienced an 8.27% appreciation rate in housing values over the past year, 48227 Detroit, MI has seen a much smaller appreciation rate of 4.30%, indicating that this area is not experiencing a strong recovery from the housing market crash. Even with its low median housing value, many people are still choosing to purchase homes in this area as it offers potential for growth and stability.

The median home cost in Detroit (zip 48227) is $64,700. Home appreciation the last 10 years has been 130.9%. Home Appreciation in Detroit (zip 48227) is up 9.7%.

Average Age of Homes

- The median age of Detroit (zip 48227) real estate is 70 years old

The Rental Market in Detroit (zip 48227)

- Renters make up 27.9% of the Detroit (zip 48227) population
- 0.7% of houses and apartments in Detroit (zip 48227), 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.

Median Monthly Rent by Number of Bedrooms

Housing by Year Built

Housing	Detroit, Michigan	United States
	19,614.0	139,647,020.0
	75	42
	$64,700	$338,100
	9.7%	16.6%
	52.6%	57.0%
	130.9%	101.1%
	$23.77	$10.98
	$1,338	$2,690
	42.8%	57.4%
	22.9%	11.2%
	34.3%	31.4%
Vacant Housing
	0.7%	1.9%
	0.2%	0.4%
	1.6%	0.7%
	1.0%	0.4%
	0.3%	3.6%
	19.2%	4.1%
Value of Owner-Occupied Housing
	10.9%	2.6%
	19.6%	2.4%
	23.4%	2.8%
	17.8%	3.9%
	9.2%	4.5%
	7.5%	11.3%
	7.2%	13.0%
	3.5%	20.1%
	0.2%	13.6%
	0.0%	8.3%
	0.3%	9.7%
	0.0%	3.9%
	0.2%	2.2%
	0.1%	0.8%
	0.0%	1.1%
Housing Units by Year Structure Built
	0.0%	0.2%
	0.4%	13.6%
	0.4%	13.6%
	0.8%	13.6%
	1.6%	13.2%
	3.2%	14.8%
	0.8%	13.6%
	23.9%	10.0%
	32.6%	4.7%
	31.2%	12.2%

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