Redford, MI 48239 - Real Estate Investment Insights & Performance Data

Welcome to our 48239 real estate data hub, tailored for investors in Redford, 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 48239 in Redford, 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 Redford, MI real estate investing. Uncover the wealth of information available, and position yourself for success in the Redford property market.

• Location Overview

  • Zip Code: 48239
  • City: Redford
  • State: MI
  • Metro Area: Detroit-Warren-Dearborn, MI
  • County Name: WAYNE COUNTY

• Real Estate Market Snapshot

  • Average Home Price (All Types): $157,846
  • Average Home Price (Single Family Homes): $158,311
  • Average Monthly Rental Price (All Types): $1,382
  • Price-to-Rent Ratio: 10
  • Zillow Projected % appreciation from 4/2023-4/2024: -0.4%

• Section 8 Housing Insights

  • Average 2 Bedroom Section 8 Rental Rates: $1,390
  • Average 3 Bedroom Section 8 Rental Rates: $1,730
  • Price-to-Rent Ratio for 2 Bedroom Section 8 Properties: 9.46
  • Price-to-Rent Ratio for 3 Bedroom Section 8 Properties: 7.6
  • 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%

• Historical & Recent Price Appreciation Rates

  • Total % Appreciation since 1990 (Government Data): 139.72
  • Total % Appreciation since 2000 (Government Data): 30.42
  • YTD Appreciation (Backwards from 4/2023, Realtor Data): 0.72%
  • 1-Year Appreciation (Backwards from 4/2023, Realtor Data): 3.11%
  • 3-Year Appreciation (Backwards from 4/2023, Realtor Data): 35.43%
  • 5-Year Appreciation (Backwards from 4/2023, Realtor Data): 70.11%
  • 10-Year Appreciation (Backwards from 4/2023, Realtor Data): 304.55%
  • 15-Year Appreciation (Backwards from 4/2023, Realtor Data): 104.98%
  • 20-Year Appreciation (Backwards from 4/2023, Realtor Data): 90.57%

• 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%