Zip 48238 (Detroit, MI) Housing

The housing market in 48238 Detroit, MI is very different from the national average. The median value of a house in this area is significantly lower at $52,600 than the US median value of $338,100. This is reflected in the slower 1 year appreciation rate of 4.30%, compared to the national rate of 8.27%. It appears that this region has much more affordable housing than other parts of the country and so it may be attractive to those looking for good deals on homes.

The median home cost in Detroit (zip 48238) is $52,600. Home appreciation the last 10 years has been 130.9%. Home Appreciation in Detroit (zip 48238) is up 9.7%.

Average Age of Homes

- The median age of Detroit (zip 48238) real estate is 78 years old

The Rental Market in Detroit (zip 48238)

- Renters make up 29.6% of the Detroit (zip 48238) population
- 1.8% of houses and apartments in Detroit (zip 48238), 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
	15,845.0	139,647,020.0
	80	42
	$52,600	$338,100
	9.7%	16.6%
	52.6%	57.0%
	130.9%	101.1%
	$19.03	$10.98
	$1,047	$2,690
	30.5%	57.4%
	36.6%	11.2%
	32.9%	31.4%
Vacant Housing
	1.8%	1.9%
	0.5%	0.4%
	11.4%	0.7%
	6.3%	0.4%
	0.1%	3.6%
	16.3%	4.1%
Value of Owner-Occupied Housing
	21.0%	2.6%
	22.8%	2.4%
	24.2%	2.8%
	11.9%	3.9%
	4.2%	4.5%
	8.4%	11.3%
	4.1%	13.0%
	2.2%	20.1%
	0.4%	13.6%
	0.3%	8.3%
	0.3%	9.7%
	0.4%	3.9%
	0.0%	2.2%
	0.0%	0.8%
	0.0%	1.1%
Housing Units by Year Structure Built
	0.0%	0.2%
	2.0%	13.6%
	2.0%	13.6%
	1.8%	13.6%
	2.9%	13.2%
	1.7%	14.8%
	1.8%	13.6%
	15.1%	10.0%
	24.7%	4.7%
	48.1%	12.2%

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