The story of this market
The typical home in ZIP 48104 sells for about $397,833, or $448 per square foot.
Prices are up +2.5% from a year ago, so sellers still have some momentum. Homes take about 45 days to sell. HUD's fair market rent for a two-bedroom is $1,639 a month.
ZIP 48104 — Ann Arbor
The 48104 housing market remains highly competitive, driven by consistent demand from the university community and limited inventory. Prices continue to appreciate steadily, reflecting the area's strong economic fundamentals and desirability. While some figures like specific price-cut percentages are not explicitly published for this ZCTA, the overall market trajectory is one of sustained growth.
This ZIP is ideal for university students, faculty, and young professionals who prioritize walkability, proximity to campus, and access to a dense urban amenity base.
Median prices moved up 2.5% year over year.
Homes spend a median of 45 days on market with 3.2 months of supply — a fast-moving market.
12% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 5.1% · poverty 36.3% — a mixed stability profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 4.9%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 5.4%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 48104, Washtenaw County, MI
Crime rates in the Ann Arbor area are generally lower than the national average for cities of similar size, with property crime being the most frequently reported incident type.
The area is served by the highly-regarded Ann Arbor Public Schools district, which is consistently ranked among the top-performing districts in Michigan.
The region faces moderate risks from severe thunderstorms and occasional flooding in low-lying areas near the Huron River, though wildfire risk is minimal.
Economic momentum is driven by the University of Michigan and a robust technology and research corridor, with ongoing mixed-use development in the downtown and campus-adjacent areas.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Michigan) — Disabled Veterans Homestead Exemption: Provides an exemption from property taxes levied for school operating purposes and potentially other local taxes depending on eligibility. State (Michigan) — General Property Tax Act: Property is assessed at 50% of true cash value (State Equalized Value). Taxable value is capped at the lesser of the state equalized value or the previous year's taxable value adjusted by the consumer price index (up to 5%), unless a transfer of ownership occurs.
The ZIP code is highly walkable and bikeable, with extensive public transit via TheRide connecting residents to the University of Michigan campus and downtown employment hubs.
The area features abundant green space including Nichols Arboretum and numerous city parks, alongside the vibrant shopping and dining districts of downtown Ann Arbor and State Street.
The rental market is characterized by high demand and low vacancy rates, heavily influenced by the large student population and proximity to the university.
The economy is anchored by the University of Michigan, which serves as the primary employer, supported by a growing ecosystem of healthcare, technology, and research firms.
The area is served by a comprehensive bus network and is well-connected to regional highway corridors, though parking in the urban core is limited.
Development is focused on high-density residential and mixed-use projects that cater to the university-affiliated population.
The Washtenaw County Equalization Department oversees property assessments, which are subject to Michigan's Proposal A tax cap limitations.
Parcels are subject to Ann Arbor Public Schools district taxes and various municipal service levies.
Property insurance premiums are stable, reflecting the area's low risk for major natural disasters.
The state experiences steady domestic migration, with significant inflows of students and professionals to university-centered hubs.
Michigan is primarily a judicial foreclosure state, requiring court intervention for the foreclosure process.
Sellers are required to provide a written disclosure statement regarding the condition of the property at the time of sale.
Data retrieved from data.census.gov ZCTA 48104 profile.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- Dave & Buster's Livonia418.7 mi
- BIG Best In Games - The Ultimate Event Party Venue!4.63.2 mi
- Lower Huron Metropark - Turtle Cove Family Aquatic Center4.515.8 mi
- Rolling Hills Water Park4.56.9 mi
- Sky Zone Canton413.1 mi
- Michigan Stadium4.81.7 mi
- Vibe Credit Union Showplace4.318.8 mi
- Cantoro's Italian Market - Plymouth4.716.9 mi
- Crisler Center4.81.6 mi
- Fox Hills Golf & Banquet Center4.69.1 mi
- Ann Arbor Hands-On Museum4.72 mi
- University of Michigan Museum of Natural History4.71.3 mi
- University of Michigan Museum of Art4.81.5 mi
- Sri Venkateswara Temple & Cultural Center4.818.6 mi
- Eloise Asylum4.419.1 mi
- Matthaei Botanical Gardens4.83.6 mi
- Gallup Park4.71.1 mi
- University of Michigan Nichols Arboretum4.81.2 mi
- Heritage Park4.611.5 mi
- Independence Park4.59.7 mi
- Sandy's Marina4.414.3 mi
- Mac's Marina Inc4.511.4 mi
- Wonderland Marine West4.214.3 mi
- Fox Hills Golf & Banquet Center4.69.1 mi
- University of Michigan Golf Course4.61.5 mi
- Barton Hills Country Club4.74.7 mi
- Eagle Crest Golf Club4.46 mi
- Rolling Meadows Golf Course4.37.8 mi
- Briarwood Mall4.22.4 mi
- Meijer4.23.2 mi
- Meijer4.13 mi
- Meijer4.16.7 mi
- Meijer4.212.3 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
A large botanical garden and nature preserve managed by the University of Michigan.
The central business district featuring a high concentration of restaurants, boutiques, and entertainment venues.
Provides extensive recreational opportunities including kayaking, canoeing, and riverside trails.
Key-figure check: median price diverges 21.9% from the nearest retained anchor (prior refresh cycle) — beyond the 12.5% tolerance; an automated validation case is open and the value publishes pending its verdict. Validation: the flagged $485,000 (+21.9% vs the prior refresh cycle) could not be independently corroborated and was reverted to the prior cycle value pending review; the case is under review in the Command Center.