Real Estate Investing in Dearborn, Michigan (48124)
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Should you buy in 48124 (Dearborn, MI)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Dearborn, MI (48124)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 48124 Dearborn
This part of Wayne County is not an easy win. The 48124 ZIP comes in at softness in key indicators, and the playbook that works in cleaner markets often stalls here.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $243K asset, 48124 is the wrong submarket. If the plan prices in friction, the yield can still work.
Statewide comparisons place 48124 among MI's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Employment concentration in 48124 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
The right play in 48124 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Dearborn:
Property Strategy for 48124
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $87,025 | $1,230 | 10.2% | +4.2% | $87,025 |
| 2BR | $166,796 | $1,550 | 6.7% | +8.5% | $83,398 |
| 3BR | $230,164 | $1,890 | 5.9% | +8.5% | $76,721 |
| 4BR | $359,123 | $2,050 | 4.1% | +7.9% | $89,781 |
| 5BR | $480,103 | — | — | +8.1% | $96,021 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 48124 Compare?
| Metric | 48124 | Dearborn | Detroit-Warren-Dearborn, MI | Michigan |
|---|---|---|---|---|
| Home Value | $242,961 | $264,150 | N/A | $253,279 |
| 5-Year CAGR | 6.3% | 6.6% | N/A | 6.8% |
| Avg Rent | $1,739 | $1,793 | N/A | - |
| Cap Rate | 5.6% | 5.3% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 48124 (Dearborn, MI). Anonymous, moderated, never written by AI.
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Property managers serving Wayne County
Manage rentals here? List your business →Metro Detroit Property Management manages and maintains properties with high standards, committed to the success of real estate investments in the Metro Detroit area. summary from their website
Michigan Property Management Solutions offers homes for rent in Michigan, near Macomb Twp., Fraser, Utica, Clinton Valley, and Detroit. summary from their website
Premier Property Services offers real estate services in Detroit, Fort Lauderdale, and Grosse Pointe Woods. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $242,961 |
| Monthly Rent | $1,739 |
| Price-to-Rent | 11.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 8.6% |
| Cap Rate | 5.6% |
| 5-Year IRR | 11.9% |
📈 Home Appreciation
| 1-Year | +6.9% ▲ |
| 3-Year CAGR | +7.0% ▲ |
| 5-Year CAGR | +6.3% ▲ |
| 10-Year CAGR | +7.9% ▲ |
🏠 Rent Trends
| 1-Year | +0.6% ▲ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (5.6%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 48124
Population: 34,156
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 48124
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 6,511 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How expensive is real estate in Dearborn, MI?
Expect median prices around $243K in Dearborn, MI. The market has run at a 0.0% 5-year CAGR, so entry costs have been consistent.
What is the typical rental rate in Dearborn, MI?
Rents in Dearborn, MI run near $1,739/mo. Compared with median home prices of $243K that produces solid gross yields for typical rentals.
What is the typical renter like in Dearborn, MI?
The tenant pool in Dearborn, MI is solid, supported by local employment and population fundamentals. Rents of $1,739/mo are well-absorbed by the market.
Which real estate strategy fits Dearborn, MI?
Most investors in Dearborn, MI run a careful cash-flow rentals with hands-on management strategy. It aligns with the 3.0/5 investability profile and the market fundamentals.
Does Dearborn, MI favor landlords or tenants?
MI ranks as a landlord-friendly state for landlord-tenant law. Dearborn generally follows the statewide framework, so landlords face reasonable operating rules.
You know 48124 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 48124 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 48124 ranks in Detroit-Warren-Dearborn, MI
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