The housing market in Detroit, MI (48235) is very different from the US median value. The median value for a house in this area is $86,800, which is significantly lower than the national median of $338,100. Over the course of the last year, the US housing market has appreciated by 8.27%, while Detroit's appreciation rate was only 4.30%. This could indicate that while other markets are growing fast, Detroit's market may be lagging behind. However, with a much lower starting point than many other areas around the country, Detroit still has potential for growth and investment.
The median home cost in Detroit (zip 48235) is $86,800. Home appreciation the last 10 years has been 130.9%. Home Appreciation in Detroit (zip 48235) is up 9.7%.
Average Age of Homes
- The median age of Detroit (zip 48235) real estate is 66 years old
The Rental Market in Detroit (zip 48235)
- Renters make up 31.6% of the Detroit (zip 48235) population
- 0.8% of houses and apartments in Detroit (zip 48235), 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.