Zip 48041 (Memphis, MI) Housing

The housing market in 48041 Memphis, MI is quite strong, with the median value of a house being approximately $266,000. This value is lower than the US median house value of $338,100. In the past year, the appreciation for houses in this area has been 7.58%, which is slightly below the national rate of 8.27%. Despite this one year drop, it is still an attractive market for those looking to buy or invest in real estate in 48041 Memphis, MI.

The median home cost in Memphis (zip 48041) is $266,000. Home appreciation the last 10 years has been 116.4%. Home Appreciation in Memphis (zip 48041) is up 10.8%.

Average Age of Homes

- The median age of Memphis (zip 48041) real estate is 42 years old

The Rental Market in Memphis (zip 48041)

- Renters make up 15.0% of the Memphis (zip 48041) population
- 0.7% of houses and apartments in Memphis (zip 48041), 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	Memphis, Michigan	United States
	1,834.0	139,647,020.0
	39	42
	$266,000	$338,100
	10.8%	16.6%
	47.2%	57.0%
	116.4%	101.1%
	$11.15	$10.98
	$2,613	$2,690
	79.3%	57.4%
	9.1%	11.2%
	11.6%	31.4%
Vacant Housing
	0.7%	1.9%
	0.0%	0.4%
	0.0%	0.7%
	2.4%	0.4%
	2.1%	3.6%
	3.9%	4.1%
Value of Owner-Occupied Housing
	0.6%	2.6%
	0.2%	2.4%
	1.6%	2.8%
	0.2%	3.9%
	4.3%	4.5%
	9.1%	11.3%
	27.2%	13.0%
	22.1%	20.1%
	18.6%	13.6%
	11.0%	8.3%
	2.2%	9.7%
	1.2%	3.9%
	0.3%	2.2%
	0.4%	0.8%
	1.0%	1.1%
Housing Units by Year Structure Built
	0.0%	0.2%
	17.7%	13.6%
	17.7%	13.6%
	21.7%	13.6%
	13.6%	13.2%
	13.4%	14.8%
	21.7%	13.6%
	9.9%	10.0%
	2.8%	4.7%
	15.2%	12.2%

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