Welcome to our 48216 real estate data hub, tailored for investors in Detroit, MI. We aim to provide valuable insights, empowering you to make well-informed decisions in this unique market.
Explore essential data such as home prices, rental rates, and appreciation trends specific to 48216 in Detroit, MI. Discover Section 8 housing opportunities and challenges to maximize your investment potential in WAYNE COUNTY.
Leverage our comprehensive, zip code-specific data to excel in Detroit, MI real estate investing. Uncover the wealth of information available, and position yourself for success in the Detroit property market.
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Location Overview
- Zip Code: 48216
- City: Detroit
- State: MI
- Metro Area: Detroit-Warren-Dearborn, MI
- County Name: WAYNE COUNTY
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Real Estate Market Snapshot
- Average Home Price (All Types): $175,691
- Average Home Price (Single Family Homes): $159,053
- Average Monthly Rental Price (All Types): $1,448
- Price-to-Rent Ratio: 10
- Zillow Projected % appreciation from 4/2023-4/2024: 1.9%
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Section 8 Housing Insights
- Average 2 Bedroom Section 8 Rental Rates: $980
- Average 3 Bedroom Section 8 Rental Rates: $1,240
- Price-to-Rent Ratio for 2 Bedroom Section 8 Properties: 14.94
- Price-to-Rent Ratio for 3 Bedroom Section 8 Properties: 11.81
- Number of Units Offered in Section 8 in the County: 18233
- Number of Occupied Units in Section 8 in the County: 17232
- Percentage of Section 8 Units Occupied in the County: 94.5%
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Historical & Recent Price Appreciation Rates
- Total % Appreciation since 1990 (Government Data): Not Available
- Total % Appreciation since 2000 (Government Data): Not Available
- YTD Appreciation (Backwards from 4/2023, Realtor Data): 9.39%
- 1-Year Appreciation (Backwards from 4/2023, Realtor Data): 2.68%
- 3-Year Appreciation (Backwards from 4/2023, Realtor Data): 20.63%
- 5-Year Appreciation (Backwards from 4/2023, Realtor Data): 101.27%
- 10-Year Appreciation (Backwards from 4/2023, Realtor Data): Not Available%
- 15-Year Appreciation (Backwards from 4/2023, Realtor Data): Not Available%
- 20-Year Appreciation (Backwards from 4/2023, Realtor Data): Not Available%
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Historical & Recent Rent Appreciation Rates
- YTD Rent Appreciation (Backwards from 4/2023, Realtor Data): Not Available%
- 1-Year Rent Appreciation (Backwards from 4/2023, Realtor Data): Not Available%
- 3-Year Rent Appreciation (Backwards from 4/2023, Realtor Data): Not Available%
- 5-Year Rent Appreciation (Backwards from 4/2023, Realtor Data): Not Available%