How much is a home worth in ZIP code 48038?

The typical home in 48038 is worth $293,219, based on the Zillow Home Value Index.

Are home values rising in 48038?

Home values in 48038 are up 4.4% over the past year, and up 5.6% a year over five years.

What is the typical rent in 48038?

A typical home in 48038 rents for about $1,312 a month, a gross rental yield of 5.4%.

What is the property tax rate in 48038?

The effective property tax rate in 48038 is 1.3% — roughly $3,902 a year on a typical home.

ZIP code 48038 has a population of 44,422 and a median household income of $78,567.

HousingHandbookReference data

…

U.S. ZIP Code · MI48038

Macomb County · Detroit-Warren-Dearborn, MI

Typical home value

$293,219^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +4.4%
5-year / yr: +5.6%
10-year / yr: +5.9%

Relative price

vs U.S.: +3.2%
vs metro: -3.1%
vs state: +22.6%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 48038 is worth $293,219 — 3.1% below the Detroit-Warren-Dearborn, MI median. Over the past year, values have risen 4.4%. Homes here rent for a typical $1,312 a month — a 5.4% gross rental yield. The effective property tax rate is 1.3%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $1,312^[2]
Gross yield: 5.4%^[2]
Cap rate: 3.2%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 1.3%^[3]
Typical annual tax: $3,902^[3]

#Climate risk

FEMA National Risk Index ratings for Macomb County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively High^[4]
Riverine flood: Relatively High
Coastal flood: Relatively Low
Wildfire: Very Low
Drought: No Rating
Heat wave: Relatively Moderate
Hurricane: Very Low
Tornado: Very High
Earthquake: Relatively Low
Winter weather: Relatively High

#Who lives here

Population: 44,422^[3]
Median household income: $78,567^[3]

#Migration

Household moves in and out of Macomb County over a year, from IRS tax-return data.

Net migration: -418^[5]
Moved in: 18,118
Moved out: 18,536

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 12
Elementary: 4
Middle: 1
High: 5

Chippewa Valley High School
High · Grades 9–12 · Chippewa Valley Schools
2,208 students
Wyandot Middle School
Middle · Grades 6–8 · Chippewa Valley Schools
843 students
Cherokee Elementary School
Elementary · Grades PK–5 · Chippewa Valley Schools
544 students
Huron Elementary School
Elementary · Grades PK–5 · Chippewa Valley Schools
509 students
Miami Elementary School
Elementary · Grades PK–5 · Chippewa Valley Schools
479 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield5.4%

Net yield (after ~40% expenses)3.2%

Annual rent$15,741

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$1,483

Loan principal$234,575

Down payment$58,644

Total interest paid$299,187

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio1.56

Monthly cost to own$2,052

Monthly rent$1,312

Renting is meaningfully cheaper month-to-month.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 75th percentile^[1]
Rental yield: 22nd percentile^[2]
Property tax: 60th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 48038?: The typical home in 48038 is worth $293,219, based on the Zillow Home Value Index.
Are home values rising in 48038?: Home values in 48038 are up 4.4% over the past year, and up 5.6% a year over five years.
What is the typical rent in 48038?: A typical home in 48038 rents for about $1,312 a month, a gross rental yield of 5.4%.
What is the property tax rate in 48038?: The effective property tax rate in 48038 is 1.3% — roughly $3,902 a year on a typical home.
Who lives in 48038?: ZIP code 48038 has a population of 44,422 and a median household income of $78,567.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

48048 vs 48038 →
New Haven, MI
Typical home
$292,835
Gross yield
—
48329 vs 48038 →
Lake Angelus, MI
Typical home
$292,692
Gross yield
—
48312
Sterling Heights, MI
Typical home
$294,588
Gross yield
7.0%
48017
Clawson, MI
Typical home
$289,204
Gross yield
7.3%
48076
Southfield, MI
Typical home
$297,521
Gross yield
7.2%
48313
Sterling Heights, MI
Typical home
$299,027
Gross yield
5.9%

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Pit ZIP 48038 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · MI48038

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