The story of this market
The typical home in ZIP 48208 sells for about $256,950, or $125 per square foot.
Prices are down 24.32% from a year ago, which gives buyers more room to negotiate. Homes take about 83 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $896 a month.
ZIP 48208 — Detroit
The 48208 housing market is currently experiencing a period of price correction, with median home values declining year-over-year. While the market remains active, high poverty rates and economic challenges in Detroit continue to influence affordability and demand. The area is characterized by a high renter share and a reliance on broader regional economic health for future growth.
This ZIP is primarily suited for investors seeking entry-level urban properties and renters looking for proximity to Detroit's central employment and cultural hubs.
Median prices moved down 24.3% year over year.
Homes spend a median of 83 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 10.3% · poverty 28.0% — elevated distress and economic pressure.
Built from 71 recorded sales in the last 24 months against HUD 3-bedroom fair market rents. The location premium is the part of the price that rent, income, education, employment, vacancy, price trend, hazard, lending and flood risk don't explain. It usually reflects amenities, schools and scarcity. It's area context and does not change this ZIP's home value estimates.
versus the prior ACS vintage
net outflow — more people moved out than in
ZCTA 48208, Wayne County MI
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
Crime rates in the 48208 area remain significantly higher than both the Michigan and national averages, reflecting broader urban challenges within Detroit.
Public schools serving the area generally face significant performance challenges, with most institutions receiving low ratings on standardized accountability metrics.
The area is primarily an urban environment with standard risks associated with aging infrastructure; flood and wildfire risks are generally low, though urban heat island effects are a concern.
Economic momentum is driven by ongoing revitalization efforts in Midtown and near-downtown Detroit, though 48208 itself remains in a period of stabilization with limited large-scale corporate development.
Property taxes are levied by the City of Detroit and Wayne County, with additional millage rates for Detroit Public Schools Community District; exemptions are available for primary residences through the Principal Residence Exemption (PRE).
Residents benefit from proximity to the Detroit employment core, with a mean commute time of approximately 23.4 minutes via local surface streets and nearby highway access.
The area features access to local neighborhood parks and is within a short drive of the cultural and recreational amenities of Midtown Detroit, including museums and dining districts.
The rental market is characterized by high demand for affordable units, with a significant share of the housing stock occupied by renters and limited new supply entering the market.
The local economy is heavily influenced by the broader Detroit-Warren-Dearborn metropolitan area, with major employment sectors including healthcare, automotive manufacturing, and education.
The area is served by the Detroit Department of Transportation (DDOT) bus network and provides easy access to major regional highway corridors like I-94 and I-75.
Development activity is largely focused on small-scale residential rehabilitation and infill projects supported by city-led neighborhood stabilization initiatives.
The Wayne County assessment regime is managed by the City of Detroit's Office of the Assessor, which conducts annual property valuations based on market sales data.
Parcels are subject to Detroit Public Schools Community District taxes and various municipal service districts typical of the City of Detroit.
Property insurance premiums in Detroit are among the highest in the state due to elevated risk factors and urban density, impacting overall housing affordability.
Michigan operates as a non-judicial foreclosure state, allowing for a streamlined process that typically includes a statutory redemption period for homeowners.
Michigan law requires sellers to provide a written disclosure statement to buyers, detailing the condition of the property and any known material defects.
Data retrieved from Census Reporter and ACS 2024 5-year tables.
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 Livonia418.2 mi
- Adventure Bay Family Water Park Presented by WFCU Credit Union4.42.9 mi
- Dave & Buster's Utica4.119.9 mi
- Red Oaks Waterpark4.412.1 mi
- Urban Air Trampoline and Adventure Park4.219.5 mi
- Little Caesars Arena4.61.6 mi
- Comerica Park4.71.9 mi
- Ford Field4.62.1 mi
- Huntington Place4.52.3 mi
- Masonic Temple4.41.3 mi
- Ambassador Bridge42.6 mi
- Comerica Park4.71.9 mi
- Henry Ford Museum of American Innovation4.88.2 mi
- Detroit Zoo4.59.5 mi
- Detroit Institute of Arts4.81.3 mi
- Henry Ford Museum of American Innovation4.88.2 mi
- Detroit Institute of Arts4.81.3 mi
- Greenfield Village4.88.1 mi
- Michigan Central4.81.3 mi
- Motown Museum4.71.2 mi
- Campus Martius Park4.72.2 mi
- Detroit Riverwalk4.82.9 mi
- Heritage Park4.712.5 mi
- Red Oaks Waterpark4.412.1 mi
- Riverside Park4.52.4 mi
- Detroit Yacht Club4.65.7 mi
- Sindbad's Restaurant and Marina4.25.7 mi
- Riverside Marina4.46 mi
- Bayview Yacht Club4.76.8 mi
- Safe Harbor Detroit River4.55.8 mi
- Big Time Entertainment4.45.1 mi
- Western Golf & Country Club4.611.5 mi
- Rackham Golf Course3.89.8 mi
- Seven Lakes Golf Course Ltd4.29.3 mi
- Rouge Park Golf Course4.28.5 mi
- Devonshire Mall4.36.5 mi
- Fairlane Town Center4.17.4 mi
- Windsor Crossing Premium Outlets4.28.3 mi
- Meijer46.9 mi
- Tecumseh Mall3.97.9 mi
- Detroit Metropolitan Wayne County Airport4.316.5 mi
- Windsor International Airport4.28.7 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Provides extensive access to museums, restaurants, and entertainment venues just outside the ZIP.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.