The story of this market
The typical home in ZIP 48234 sells for about $104,931, or $68 per square foot.
Prices are down 2.8% 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 $1,200 a month.
This ZIP has no home sales of its own, so its market figures come from Detroit, Michigan (city-level). Population, rents, hazards, lending and amenities are this ZIP's own readings.
ZIP 48234 — Detroit
The 48234 housing market is currently experiencing a significant year-over-year price decline of 24.1%, with a median sale price of $57,000. Market activity is somewhat competitive, though the low price point and high rental share continue to attract value-add investors. Several data points, including specific tax rates and school ratings, were not determinable at the ZIP level.
This ZIP is primarily suited for value-add real estate investors looking for low entry prices and renovation opportunities, as well as renters seeking affordable housing options.
Median prices moved down 2.8% year over year.
Homes spend a median of 49 days on market with 3.5 months of supply — a fast-moving market.
34% of listings have cut prices · homes sell at 94.8% of asking — demand is holding steady.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) — a stable, low-distress profile.
Built from 458 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.
ZCTA 48234, Wayne County MI
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 rental market is characterized by a 48% renter share with rent comps near $1,217/mo, supporting investor interest in renovated product.
The local economy is supported by sectors including transportation, warehousing, and finance, with a significant portion of the workforce engaged in these industries.
Data sourced from US Census Bureau and ZIP-specific aggregators.
- C.J. Barrymore's4.415.4 mi
- Dave & Buster's Livonia419.5 mi
- Dave & Buster's Utica4.113.7 mi
- Adventure Bay Family Water Park Presented by WFCU Credit Union4.48 mi
- Urban Air Trampoline and Adventure Park4.213.3 mi
- Little Caesars Arena4.66.3 mi
- Comerica Park4.76.5 mi
- Ford Field4.66.4 mi
- Huntington Place4.57.4 mi
- Masonic Temple4.46.4 mi
- Ambassador Bridge48.6 mi
- Comerica Park4.76.5 mi
- Detroit Zoo4.56.3 mi
- Detroit Institute of Arts4.85.2 mi
- Windsor-Detroit Tunnel4.37.2 mi
- Henry Ford Museum of American Innovation4.813.3 mi
- Detroit Institute of Arts4.85.2 mi
- Greenfield Village4.813.2 mi
- Michigan Central4.87.4 mi
- Motown Museum4.75.3 mi
- Campus Martius Park4.77 mi
- Detroit Riverwalk4.87.1 mi
- Dodge Park4.711.2 mi
- Red Oaks Waterpark4.46.7 mi
- Ford House4.78.7 mi
- Detroit Yacht Club4.66.8 mi
- Sindbad's Restaurant and Marina4.26.2 mi
- Riverside Marina4.46.5 mi
- Bayview Yacht Club4.77.1 mi
- Safe Harbor Detroit River4.56.3 mi
- Big Time Entertainment4.410 mi
- Rackham Golf Course3.86.9 mi
- Maple Lane Golf Club and Driving Range47.5 mi
- Fern Hill Golf Club4.111.5 mi
- Rouge Park Golf Course4.211.3 mi
- Somerset Collection4.611.4 mi
- Devonshire Mall4.311.1 mi
- Oakland Mall4.18 mi
- Fairlane Town Center4.112.2 mi
- Meijer44 mi
- Detroit Metropolitan Wayne County Airport4.322 mi
- Windsor International Airport4.211.9 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass. Coherence hold-out: this pass's median price ($57,000) sat outside the 0.25–4× band around Wayne County's retained level and was not stored.