Zip 48174 (Romulus, MI) Housing

The median value of housing in 48174 Romulus, MI is $184,700. This is much lower than the US median house value of $338,100. However, the 1-year house appreciation rate for this area is 8.47%, which is only 0.2% higher than the national average of 8.27%. This shows that the housing market in Romulus is growing at a healthy rate and could provide a good opportunity for potential homebuyers to enter the market.

The median home cost in Romulus (zip 48174) is $184,700. Home appreciation the last 10 years has been 109.8%. Home Appreciation in Romulus (zip 48174) is up 13.1%.

Average Age of Homes

- The median age of Romulus (zip 48174) real estate is 41 years old

The Rental Market in Romulus (zip 48174)

- Renters make up 26.3% of the Romulus (zip 48174) population
- 1.3% of houses and apartments in Romulus (zip 48174), 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	Romulus, Michigan	United States
	12,815.0	139,647,020.0
	47	42
	$184,700	$338,100
	13.1%	16.6%
	49.3%	57.0%
	109.8%	101.1%
	$20.72	$10.98
	$2,478	$2,690
	67.3%	57.4%
	7.2%	11.2%
	25.5%	31.4%
Vacant Housing
	1.3%	1.9%
	0.0%	0.4%
	1.1%	0.7%
	0.2%	0.4%
	0.0%	3.6%
	4.6%	4.1%
Value of Owner-Occupied Housing
	12.7%	2.6%
	8.4%	2.4%
	4.6%	2.8%
	7.3%	3.9%
	5.8%	4.5%
	23.1%	11.3%
	15.0%	13.0%
	18.7%	20.1%
	1.9%	13.6%
	0.3%	8.3%
	2.2%	9.7%
	0.1%	3.9%
	0.0%	2.2%
	0.0%	0.8%
	0.0%	1.1%
Housing Units by Year Structure Built
	0.0%	0.2%
	15.3%	13.6%
	15.3%	13.6%
	12.2%	13.6%
	6.0%	13.2%
	20.5%	14.8%
	12.2%	13.6%
	12.2%	10.0%
	6.9%	4.7%
	4.0%	12.2%

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