Welcome to our 48228 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 48228 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: 48228
- 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): $53,777
- Average Home Price (Single Family Homes): $53,842
- Average Monthly Rental Price (All Types): $1,019
- Price-to-Rent Ratio: 4
- Zillow Projected % appreciation from 4/2023-4/2024: 0%
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Section 8 Housing Insights
- Average 2 Bedroom Section 8 Rental Rates: $1,040
- Average 3 Bedroom Section 8 Rental Rates: $1,300
- Price-to-Rent Ratio for 2 Bedroom Section 8 Properties: 4.31
- Price-to-Rent Ratio for 3 Bedroom Section 8 Properties: 3.45
- 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): 186.37
- Total % Appreciation since 2000 (Government Data): 8.88
- YTD Appreciation (Backwards from 4/2023, Realtor Data): 4.79%
- 1-Year Appreciation (Backwards from 4/2023, Realtor Data): 3.49%
- 3-Year Appreciation (Backwards from 4/2023, Realtor Data): 91.53%
- 5-Year Appreciation (Backwards from 4/2023, Realtor Data): 164.62%
- 10-Year Appreciation (Backwards from 4/2023, Realtor Data): 624.58%
- 15-Year Appreciation (Backwards from 4/2023, Realtor Data): 114.71%
- 20-Year Appreciation (Backwards from 4/2023, Realtor Data): 126.63%
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Historical & Recent Rent Appreciation Rates
- YTD Rent Appreciation (Backwards from 4/2023, Realtor Data): -4.95%
- 1-Year Rent Appreciation (Backwards from 4/2023, Realtor Data): -0.11%
- 3-Year Rent Appreciation (Backwards from 4/2023, Realtor Data): Not Available%
- 5-Year Rent Appreciation (Backwards from 4/2023, Realtor Data): Not Available%