How much is a home worth in ZIP code 48111?

The typical home in 48111 is worth $310,444, based on the Zillow Home Value Index.

Are home values rising in 48111?

Home values in 48111 are up 5.0% over the past year, and up 4.5% a year over five years.

What is the typical rent in 48111?

A typical home in 48111 rents for about $1,347 a month, a gross rental yield of 5.2%.

What is the property tax rate in 48111?

The effective property tax rate in 48111 is 1.2% — roughly $3,644 a year on a typical home.

ZIP code 48111 has a population of 44,709 and a median household income of $76,595.

HousingHandbookReference data

…

U.S. ZIP Code · MI48111

Wayne County · Detroit-Warren-Dearborn, MI

Typical home value

$310,444^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +5.0%
5-year / yr: +4.5%
10-year / yr: +6.1%

Relative price

vs U.S.: +9.3%
vs metro: +2.6%
vs state: +29.8%

Price history

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

The typical home in 48111 is worth $310,444 — 2.6% above the Detroit-Warren-Dearborn, MI median. Over the past year, values have risen 5.0%. Homes here rent for a typical $1,347 a month — a 5.2% gross rental yield. The effective property tax rate is 1.2%.

#Rent & investment

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

Monthly rent: $1,347^[2]
Gross yield: 5.2%^[2]
Cap rate: 3.1%^[2]

#Property tax

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

Effective tax rate: 1.2%^[3]
Typical annual tax: $3,644^[3]

#Climate risk

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

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

#Who lives here

Population: 44,709^[3]
Median household income: $76,595^[3]

#Migration

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

Net migration: -4,559^[5]
Moved in: 28,607
Moved out: 33,166

Schools

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

Public schools: 8
Elementary: 4
Middle: 2
High: 1

Belleville High School
High · Grades 7–12 · Van Buren Public Schools
1,705 students
Keystone Academy
Elementary · Grades K–8 · Keystone Academy
697 students
McBride Middle School
Middle · Grades 6–9 · Van Buren Public Schools
559 students
Owen Intermediate School
Middle · Grades 4–6 · Van Buren Public Schools
546 students
Edgemont Elementary School
Elementary · Grades K–5 · Van Buren Public Schools
374 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 yield5.2%

Net yield (after ~40% expenses)3.1%

Annual rent$16,165

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$1,570

Loan principal$248,356

Down payment$62,089

Total interest paid$316,764

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 ratio1.58

Monthly cost to own$2,131

Monthly rent$1,347

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: 26th percentile^[1]
Rental yield: 18th percentile^[2]
Property tax: 43rd percentile^[3]

Frequently asked

How much is a home worth in ZIP code 48111?: The typical home in 48111 is worth $310,444, based on the Zillow Home Value Index.
Are home values rising in 48111?: Home values in 48111 are up 5.0% over the past year, and up 4.5% a year over five years.
What is the typical rent in 48111?: A typical home in 48111 rents for about $1,347 a month, a gross rental yield of 5.2%.
What is the property tax rate in 48111?: The effective property tax rate in 48111 is 1.2% — roughly $3,644 a year on a typical home.
Who lives in 48111?: ZIP code 48111 has a population of 44,709 and a median household income of $76,595.

#Comparable ZIPs

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

48051 vs 48111 →
MI
Typical home
$309,763
Gross yield
—
48128 vs 48111 →
Dearborn, MI
Typical home
$309,390
Gross yield
—
48134
Flat Rock, MI
Typical home
$312,158
Gross yield
5.2%
48062
Richmond, MI
Typical home
$308,098
Gross yield
—
48006
MI
Typical home
$307,278
Gross yield
—
48390
Walled Lake, MI
Typical home
$314,001
Gross yield
7.8%

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#Jump to section

U.S. ZIP Code · MI48111

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