How much is a home worth in ZIP code 48116?

The typical home in 48116 is worth $412,876, based on the Zillow Home Value Index.

Are home values rising in 48116?

Home values in 48116 are up 2.7% over the past year, and up 5.1% a year over five years.

What is the typical rent in 48116?

A typical home in 48116 rents for about $2,542 a month, a gross rental yield of 7.4%.

What is the property tax rate in 48116?

The effective property tax rate in 48116 is 1.1% — roughly $4,494 a year on a typical home.

ZIP code 48116 has a population of 27,289 and a median household income of $106,763.

HousingHandbookReference data

…

U.S. ZIP Code · MI48116

Livingston County · Detroit-Warren-Dearborn, MI

Typical home value

$412,876^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +2.7%
5-year / yr: +5.1%
10-year / yr: +5.8%

Relative price

vs U.S.: +45.3%
vs metro: +36.4%
vs state: +72.7%

Price history

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

The typical home in 48116 is worth $412,876 — 36.4% above the Detroit-Warren-Dearborn, MI median. Over the past year, values have risen 2.7%. Homes here rent for a typical $2,542 a month — a 7.4% gross rental yield. The effective property tax rate is 1.1%.

#Rent & investment

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

Monthly rent: $2,542^[2]
Gross yield: 7.4%^[2]
Cap rate: 4.4%^[2]

#Property tax

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

Effective tax rate: 1.1%^[3]
Typical annual tax: $4,494^[3]

#Climate risk

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

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

#Who lives here

Population: 27,289^[3]
Median household income: $106,763^[3]

#Migration

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

Net migration: -16^[5]
Moved in: 5,263
Moved out: 5,279

Schools

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

Public schools: 9
Elementary: 2
Middle: 3
High: 3

Brighton High School
High · Grades 9–12 · Brighton Area Schools
1,901 students
Scranton Middle School
Middle · Grades 7–8 · Brighton Area Schools
849 students
Maltby Intermediate School
Middle · Grades 5–6 · Brighton Area Schools
843 students
Hornung Elementary School
Elementary · Grades K–4 · Brighton Area Schools
561 students
Hawkins Elementary School
Elementary · Grades K–4 · Brighton Area Schools
551 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 yield7.4%

Net yield (after ~40% expenses)4.4%

Annual rent$30,500

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$2,088

Loan principal$330,301

Down payment$82,575

Total interest paid$421,280

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 ratio1.10

Monthly cost to own$2,807

Monthly rent$2,542

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: 47th percentile^[1]
Rental yield: 56th percentile^[2]
Property tax: 34th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 48116?: The typical home in 48116 is worth $412,876, based on the Zillow Home Value Index.
Are home values rising in 48116?: Home values in 48116 are up 2.7% over the past year, and up 5.1% a year over five years.
What is the typical rent in 48116?: A typical home in 48116 rents for about $2,542 a month, a gross rental yield of 7.4%.
What is the property tax rate in 48116?: The effective property tax rate in 48116 is 1.1% — roughly $4,494 a year on a typical home.
Who lives in 48116?: ZIP code 48116 has a population of 27,289 and a median household income of $106,763.

#Comparable ZIPs

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

48188 vs 48116 →
MI
Typical home
$412,676
Gross yield
5.4%
48371 vs 48116 →
Oxford, MI
Typical home
$414,771
Gross yield
3.7%
48455
Metamora, MI
Typical home
$409,234
Gross yield
—
48375
Novi, MI
Typical home
$408,560
Gross yield
4.8%
48044
MI
Typical home
$417,427
Gross yield
6.3%
48322
Farmington Hills, MI
Typical home
$418,042
Gross yield
6.0%

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Pit ZIP 48116 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · MI48116

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