Zip 48118 (Chelsea, MI) Housing

The housing market in 48118 Chelsea, MI is very strong. The median value for a home in the area is $329,300, which is just below the US house median value of $338,100. In addition, the 1 year house appreciation rate in 48118 Chelsea, MI was 8.47% compared to the national average of 8.27%. This shows that the value of homes in this area are appreciating faster than the US average. All these factors make now an excellent time to invest in this area.

The median home cost in Chelsea (zip 48118) is $329,300. Home appreciation the last 10 years has been 109.8%. Home Appreciation in Chelsea (zip 48118) is up 13.1%.

Average Age of Homes

- The median age of Chelsea (zip 48118) real estate is 38 years old

The Rental Market in Chelsea (zip 48118)

- Renters make up 19.0% of the Chelsea (zip 48118) population
- 0.0% of houses and apartments in Chelsea (zip 48118), 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	Chelsea, Michigan	United States
	5,683.0	139,647,020.0
	39	42
	$329,300	$338,100
	13.1%	16.6%
	49.3%	57.0%
	109.8%	101.1%
	$15.61	$10.98
	$4,593	$2,690
	76.1%	57.4%
	4.4%	11.2%
	19.6%	31.4%
Vacant Housing
	0.0%	1.9%
	0.0%	0.4%
	0.0%	0.7%
	2.0%	0.4%
	2.1%	3.6%
	0.3%	4.1%
Value of Owner-Occupied Housing
	0.6%	2.6%
	0.1%	2.4%
	0.3%	2.8%
	1.7%	3.9%
	1.2%	4.5%
	2.8%	11.3%
	15.0%	13.0%
	30.1%	20.1%
	28.6%	13.6%
	10.4%	8.3%
	5.1%	9.7%
	2.3%	3.9%
	0.5%	2.2%
	0.7%	0.8%
	0.5%	1.1%
Housing Units by Year Structure Built
	0.0%	0.2%
	16.4%	13.6%
	16.4%	13.6%
	20.6%	13.6%
	9.8%	13.2%
	13.3%	14.8%
	20.6%	13.6%
	6.7%	10.0%
	2.6%	4.7%
	19.7%	12.2%

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