The story of this market
The typical home in ZIP 48202 sells for about $249,000, or $145 per square foot.
Prices are down 5.6% from a year ago, which gives buyers more room to negotiate. Homes take about 49 days to sell. HUD's fair market rent for a two-bedroom is $981 a month.
ZIP 48202 — Detroit
The 48202 housing market is showing signs of stabilization and growth, driven by significant institutional investment in the New Center and Midtown areas. While inventory remains tight and affordability challenges persist for local renters, the influx of development is supporting a gradual appreciation in home values. Note that specific figures like months of supply and sale-to-list ratios are based on current market listings and may fluctuate.
This ZIP is well-suited for urban professionals, students, and medical workers who prioritize proximity to the city's major employment and cultural anchors over suburban space.
Median prices moved down 5.6% year over year.
Homes spend a median of 49 days on market with 6.2 months of supply — a balanced-paced market.
13% of listings have cut prices · homes sell at 96.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 9.1% · poverty 27.9% — 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 12.0%/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 5.2%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net outflow — more people moved out than in
ZCTA 48202, Wayne County, MI
Crime rates in the area remain elevated compared to national averages, with ongoing efforts by local law enforcement to address public safety concerns in the Detroit urban core.
Public schools serving the area are part of the Detroit Public Schools Community District, which faces significant challenges in academic performance and resource allocation.
The area is primarily urban with standard risks associated with aging infrastructure; flood and wildfire risks are generally low, though urban heat island effects are a noted concern.
Economic momentum is driven by the revitalization of the Midtown and New Center districts, with significant investment in healthcare and educational institutions serving as anchor employers.
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.
Residents benefit from proximity to the QLine streetcar and major bus corridors, providing direct access to Downtown Detroit's employment hubs.
The area features access to cultural institutions like the Detroit Institute of Arts and proximity to green spaces such as the Wayne State University campus and nearby community parks.
The rental market is characterized by high demand for workforce housing, with a mix of legacy multi-family units and new, higher-end developments near the medical center.
The economy is anchored by the healthcare and education sectors, with major employers including Henry Ford Health and Wayne State University driving local demand.
The area is served by the QLine, Woodward Avenue bus lines, and proximity to I-94 and I-75, facilitating regional connectivity.
Development is focused on the 'New Center' revitalization, emphasizing mixed-use residential and commercial projects to support the growing medical district.
The Wayne County assessment regime utilizes a state-equalized value system based on annual market analysis and property inspections.
Parcels are subject to Detroit Public Schools Community District taxes and various municipal special assessment districts for infrastructure maintenance.
Property insurance premiums in Detroit are generally higher than the national average due to urban risk factors and historical loss data.
Net domestic migration to Michigan has shown stabilization, with urban centers like Detroit seeing renewed interest from younger demographics.
Michigan operates as a judicial foreclosure state, requiring court intervention for the foreclosure process, which provides specific notice and redemption rights to homeowners.
Sellers are required to provide a comprehensive written disclosure statement regarding the physical condition of the property at the time of sale.
Data retrieved from US Census Bureau ZCTA profiles and Detroit Open Data Portal.
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 Livonia418.3 mi
- Dave & Buster's Utica4.118.5 mi
- Adventure Bay Family Water Park Presented by WFCU Credit Union4.43.7 mi
- Urban Air Trampoline and Adventure Park4.218.1 mi
- Red Oaks Waterpark4.410.8 mi
- Little Caesars Arena4.62 mi
- Comerica Park4.72.3 mi
- Ford Field4.62.3 mi
- Huntington Place4.53 mi
- Masonic Temple4.41.8 mi
- Ambassador Bridge43.9 mi
- Comerica Park4.72.3 mi
- Henry Ford Museum of American Innovation4.89.3 mi
- Detroit Zoo4.58.5 mi
- Detroit Institute of Arts4.80.7 mi
- Henry Ford Museum of American Innovation4.89.3 mi
- Detroit Institute of Arts4.80.7 mi
- Greenfield Village4.89.1 mi
- Michigan Central4.82.6 mi
- Motown Museum4.70.8 mi
- Campus Martius Park4.72.8 mi
- Detroit Riverwalk4.83.3 mi
- Red Oaks Waterpark4.410.8 mi
- Ford House4.711.9 mi
- Riverside Park4.53.8 mi
- Detroit Yacht Club4.65.2 mi
- Sindbad's Restaurant and Marina4.25.1 mi
- Riverside Marina4.45.4 mi
- Bayview Yacht Club4.76.3 mi
- Safe Harbor Detroit River4.55.3 mi
- Big Time Entertainment4.45.9 mi
- Western Golf & Country Club4.611.7 mi
- Rackham Golf Course3.88.9 mi
- Seven Lakes Golf Course Ltd4.210.4 mi
- Maple Lane Golf Club and Driving Range412.3 mi
- Devonshire Mall4.37.3 mi
- Fairlane Town Center4.18.3 mi
- Oakland Mall4.111.9 mi
- Windsor Crossing Premium Outlets4.29.3 mi
- Meijer45.9 mi
- Detroit Metropolitan Wayne County Airport4.317.8 mi
- Windsor International Airport4.29.1 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
World-class art museum located in the heart of the cultural district.
Major research university serving as a primary economic and cultural anchor.
Large-scale medical campus providing significant employment and healthcare services.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.