Real Estate Investing in Dearborn, Michigan (48128)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 48128 (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 (48128)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 48128 Dearborn
Not every below-median market is a bargain. Dearborn's 48128 ZIP sits at signals that favor experienced operators who can absorb the risk $317K pricing implies.
For an experienced owner, 48128 can be a worth a close look for hunting ground — but the discount at $317K reflects genuine risk that outside investors often underestimate.
On balance, 48128 offers a low basis, the region around Dearborn has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Put differently, 12,844 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
Strategy in 48128 is an operator game, not a passive one. On balance, entry prices of $317K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Dearborn:
Property Strategy for 48128
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $248,320 | $2,030 | 5.9% | +10.3% | $124,160 |
| 3BR | $290,661 | $2,480 | 6.1% | +8.5% | $96,887 |
| 4BR | $360,786 | $2,690 | 5.4% | +8.1% | $90,196 |
| 5BR | $448,463 | — | — | +7.9% | $89,693 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 48128 Compare?
| Metric | 48128 | Dearborn | Detroit-Warren-Dearborn, MI | Michigan |
|---|---|---|---|---|
| Home Value | $317,061 | $264,150 | N/A | $253,279 |
| 5-Year CAGR | 6.5% | 6.6% | N/A | 6.8% |
| Avg Rent | $2,150 | $1,793 | N/A | - |
| Cap Rate | 5.3% | 5.3% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 48128 (Dearborn, MI). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 48128 (Dearborn, MI)?
~25 seconds · no account needed · your report is anonymous
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 | $317,061 |
| Monthly Rent | $2,150 |
| Price-to-Rent | 12.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 8.1% |
| Cap Rate | 5.3% |
| 5-Year IRR | 11.8% |
📈 Home Appreciation
| 1-Year | +7.7% ▲ |
| 3-Year CAGR | +7.3% ▲ |
| 5-Year CAGR | +6.5% ▲ |
| 10-Year CAGR | +7.8% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (5.3%). 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 48128
Population: 12,844
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 48128
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
WhitmoreBolles Elementary School
Howe Trainable Center and Montessori
Nowlin Elementary School
Robichaud Senior High School
Smith Middle School
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
Is real estate in Dearborn, MI a good investment right now?
Dearborn, MI rates 3.0/5 for investability. With median values at $317K and rents near $2,150/mo, the market offers reasonable fundamentals for rental investors.
Do landlords face vacancy issues in Dearborn, MI?
Expect elevated vacancy in Dearborn, MI. Rents at $2,150/mo are absorbed by the tenant base without meaningful lag.
How much do tenants pay in Dearborn, MI?
Rent in Dearborn, MI is around $2,150/mo. The resulting rent-to-value relationship with $317K pricing is reasonable for most investor models.
Is it easy to find good tenants in Dearborn, MI?
Tenant demand in Dearborn, MI is solid. The local workforce $2,150/mo rents across most rental classes.
How expensive is real estate in Dearborn, MI?
Median home price in Dearborn, MI is near $317K, with a 5-year CAGR of 0.0%. Prices have been consistent and supportive of buy-and-hold strategies.
You know 48128 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 48128 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 48128 ranks in Detroit-Warren-Dearborn, MI
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 48128 (Dearborn)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 48128 (Dearborn, MI).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.