Zip 48223 (Detroit, MI) Housing

The median housing value in 48223 Detroit, MI is $89,400, significantly lower than the US house median value of $338,100. Additionally, the 1 year house appreciation rate in 48223 Detroit, MI is 4.30%, while the 1 year house appreciation rate for all of the United States is 8.27%. These figures indicate that overall housing values in 48223 Detroit, MI have appreciated at a slower rate than the rest of the country. This may be a reflection of general economic conditions and other factors unique to this location.

The median home cost in Detroit (zip 48223) is $89,400. Home appreciation the last 10 years has been 130.9%. Home Appreciation in Detroit (zip 48223) is up 9.7%.

Average Age of Homes

- The median age of Detroit (zip 48223) real estate is 67 years old

The Rental Market in Detroit (zip 48223)

- Renters make up 30.2% of the Detroit (zip 48223) population
- 1.1% of houses and apartments in Detroit (zip 48223), 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
	11,393.0	139,647,020.0
	70	42
	$89,400	$338,100
	9.7%	16.6%
	52.6%	57.0%
	130.9%	101.1%
	$22.65	$10.98
	$1,701	$2,690
	45.4%	57.4%
	16.8%	11.2%
	37.9%	31.4%
Vacant Housing
	1.1%	1.9%
	0.5%	0.4%
	1.1%	0.7%
	0.9%	0.4%
	0.2%	3.6%
	13.0%	4.1%
Value of Owner-Occupied Housing
	11.7%	2.6%
	14.7%	2.4%
	8.5%	2.8%
	19.8%	3.9%
	9.2%	4.5%
	16.1%	11.3%
	14.0%	13.0%
	4.2%	20.1%
	1.0%	13.6%
	0.3%	8.3%
	0.3%	9.7%
	0.0%	3.9%
	0.1%	2.2%
	0.2%	0.8%
	0.0%	1.1%
Housing Units by Year Structure Built
	0.0%	0.2%
	3.2%	13.6%
	3.2%	13.6%
	2.3%	13.6%
	2.5%	13.2%
	2.9%	14.8%
	2.3%	13.6%
	31.9%	10.0%
	26.7%	4.7%
	21.6%	12.2%

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