Zip 48122 (Melvindale, MI) Housing

The median value for housing in Melvindale, MI (zip code 48122) is $119,300, which is significantly lower than the US national median house value of $338,100. Despite this large difference in median values, the 1 year appreciation rate for houses in Melvindale is actually slightly higher than the US national average of 8.27%, at 8.47%. This could make Melvindale a great place to invest in housing right now as property prices are on the rise.

The median home cost in Melvindale (zip 48122) is $119,300. Home appreciation the last 10 years has been 109.8%. Home Appreciation in Melvindale (zip 48122) is up 13.1%.

Average Age of Homes

- The median age of Melvindale (zip 48122) real estate is 61 years old

The Rental Market in Melvindale (zip 48122)

- Renters make up 35.7% of the Melvindale (zip 48122) population
- 1.6% of houses and apartments in Melvindale (zip 48122), 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	Melvindale, Michigan	United States
	4,906.0	139,647,020.0
	69	42
	$119,300	$338,100
	13.1%	16.6%
	49.3%	57.0%
	109.8%	101.1%
	$21.98	$10.98
	$1,813	$2,690
	54.2%	57.4%
	7.5%	11.2%
	38.3%	31.4%
Vacant Housing
	1.6%	1.9%
	0.7%	0.4%
	2.5%	0.7%
	0.0%	0.4%
	0.0%	3.6%
	2.7%	4.1%
Value of Owner-Occupied Housing
	4.4%	2.6%
	5.2%	2.4%
	18.1%	2.8%
	18.1%	3.9%
	24.4%	4.5%
	25.1%	11.3%
	4.2%	13.0%
	0.0%	20.1%
	0.0%	13.6%
	0.0%	8.3%
	0.0%	9.7%
	0.0%	3.9%
	0.0%	2.2%
	0.5%	0.8%
	0.0%	1.1%
Housing Units by Year Structure Built
	0.0%	0.2%
	11.7%	13.6%
	11.7%	13.6%
	4.5%	13.6%
	3.2%	13.2%
	4.7%	14.8%
	4.5%	13.6%
	16.6%	10.0%
	33.3%	4.7%
	13.6%	12.2%

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