How much is a home worth in ZIP code 48104?

The typical home in 48104 is worth $586,387, based on the Zillow Home Value Index.

Are home values rising in 48104?

Home values in 48104 are up 4.7% over the past year, and up 5.2% a year over five years.

What is the typical rent in 48104?

A typical home in 48104 rents for about $2,398 a month, a gross rental yield of 4.9%.

What is the property tax rate in 48104?

The effective property tax rate in 48104 is 1.6% — roughly $9,203 a year on a typical home.

ZIP code 48104 has a population of 43,979 and a median household income of $64,231.

HousingHandbookReference data

…

U.S. ZIP Code · MI48104

Washtenaw County · Ann Arbor, MI

Typical home value

$586,387^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +4.7%
5-year / yr: +5.2%
10-year / yr: +5.0%

Relative price

vs U.S.: +106.4%
vs metro: +42.2%
vs state: +145.3%

Price history

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

The typical home in 48104 is worth $586,387 — 42.2% above the Ann Arbor, MI median. Over the past year, values have risen 4.7%. Homes here rent for a typical $2,398 a month — a 4.9% gross rental yield. The effective property tax rate is 1.6%.

#Rent & investment

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

Monthly rent: $2,398^[2]
Gross yield: 4.9%^[2]
Cap rate: 2.9%^[2]

#Property tax

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

Effective tax rate: 1.6%^[3]
Typical annual tax: $9,203^[3]

#Climate risk

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

Overall risk: Relatively Moderate^[4]
Riverine flood: Relatively Moderate
Coastal flood: Not Applicable
Wildfire: Very Low
Drought: No Rating
Heat wave: Relatively Moderate
Hurricane: Very Low
Tornado: Relatively High
Earthquake: Relatively Low
Winter weather: Relatively Moderate

#Who lives here

Population: 43,979^[3]
Median household income: $64,231^[3]

#Migration

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

Net migration: -2,091^[5]
Moved in: 11,464
Moved out: 13,555

Schools

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

Public schools: 9
Elementary: 5
Middle: 1
High: 2

Tappan Middle School
Middle · Grades 6–8 · Ann Arbor Public Schools
640 students
Central Academy
Other · Grades PK–12 · Central Academy
559 students
Community High School
High · Grades 9–12 · Ann Arbor Public Schools
509 students
Burns Park Elementary School
Elementary · Grades K–5 · Ann Arbor Public Schools
497 students
John Allen School
Elementary · Grades K–5 · Ann Arbor Public Schools
402 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 yield4.9%

Net yield (after ~40% expenses)2.9%

Annual rent$28,775

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$2,965

Loan principal$469,110

Down payment$117,277

Total interest paid$598,323

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 ratio1.76

Monthly cost to own$4,221

Monthly rent$2,398

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: 91st percentile^[1]
Rental yield: 43rd percentile^[2]
Property tax: 91st percentile^[3]

Frequently asked

How much is a home worth in ZIP code 48104?: The typical home in 48104 is worth $586,387, based on the Zillow Home Value Index.
Are home values rising in 48104?: Home values in 48104 are up 4.7% over the past year, and up 5.2% a year over five years.
What is the typical rent in 48104?: A typical home in 48104 rents for about $2,398 a month, a gross rental yield of 4.9%.
What is the property tax rate in 48104?: The effective property tax rate in 48104 is 1.6% — roughly $9,203 a year on a typical home.
Who lives in 48104?: ZIP code 48104 has a population of 43,979 and a median household income of $64,231.

#Comparable ZIPs

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

48105 vs 48104 →
Ann Arbor, MI
Typical home
$561,028
Gross yield
5.2%
48103 vs 48104 →
Ann Arbor, MI
Typical home
$529,615
Gross yield
4.7%
48130
Dexter, MI
Typical home
$507,741
Gross yield
—
48176
Saline, MI
Typical home
$470,380
Gross yield
3.9%
48108
Ann Arbor, MI
Typical home
$445,650
Gross yield
5.6%
48118
Chelsea, MI
Typical home
$412,378
Gross yield
—

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#Jump to section

U.S. ZIP Code · MI48104

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