Zip 48228 (Detroit, MI) Housing

The housing market in 48228 Detroit, MI is considerably lower than the US median value. At a median house value of $57,700, the area is approximately 82% less expensive than the national average. Though Detroit has seen a modest 1 year appreciation rate of 4.30%, this is still much slower than the 8.27% average for US homes over the same period. Despite this, the area still offers potential opportunities for prospective buyers to get into a home at an affordable price.

The median home cost in Detroit (zip 48228) is $57,700. Home appreciation the last 10 years has been 130.9%. Home Appreciation in Detroit (zip 48228) is up 9.7%.

Average Age of Homes

- The median age of Detroit (zip 48228) real estate is 65 years old

The Rental Market in Detroit (zip 48228)

- Renters make up 34.2% of the Detroit (zip 48228) population
- 2.0% of houses and apartments in Detroit (zip 48228), 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
	22,745.0	139,647,020.0
	70	42
	$57,700	$338,100
	9.7%	16.6%
	52.6%	57.0%
	130.9%	101.1%
	$19.03	$10.98
	$1,247	$2,690
	41.1%	57.4%
	15.4%	11.2%
	43.6%	31.4%
Vacant Housing
	2.0%	1.9%
	0.1%	0.4%
	1.1%	0.7%
	2.0%	0.4%
	0.5%	3.6%
	9.7%	4.1%
Value of Owner-Occupied Housing
	21.5%	2.6%
	29.3%	2.4%
	19.7%	2.8%
	14.7%	3.9%
	8.0%	4.5%
	2.6%	11.3%
	2.6%	13.0%
	0.3%	20.1%
	0.1%	13.6%
	0.1%	8.3%
	0.9%	9.7%
	0.2%	3.9%
	0.0%	2.2%
	0.0%	0.8%
	0.2%	1.1%
Housing Units by Year Structure Built
	0.0%	0.2%
	2.3%	13.6%
	2.3%	13.6%
	1.7%	13.6%
	2.9%	13.2%
	5.7%	14.8%
	1.7%	13.6%
	31.0%	10.0%
	28.8%	4.7%
	17.2%	12.2%

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