How much is a home worth in ZIP code 48161?

The typical home in 48161 is worth $204,378, based on the Zillow Home Value Index.

Are home values rising in 48161?

Home values in 48161 are up 6.3% over the past year, and up 4.0% a year over five years.

What is the typical rent in 48161?

A typical home in 48161 rents for about $1,167 a month, a gross rental yield of 6.9%.

What is the property tax rate in 48161?

The effective property tax rate in 48161 is 1.0% — roughly $2,105 a year on a typical home.

ZIP code 48161 has a population of 26,304 and a median household income of $67,414.

HousingHandbookReference data

…

U.S. ZIP Code · MI48161

Monroe County · Monroe, MI

Typical home value

$204,378^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +6.3%
5-year / yr: +4.0%
10-year / yr: +4.2%

Relative price

vs U.S.: -28.1%
vs metro: -30.4%
vs state: -14.5%

Price history

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

The typical home in 48161 is worth $204,378 — 30.4% below the Monroe, MI median. Over the past year, values have risen 6.3%. Homes here rent for a typical $1,167 a month — a 6.9% gross rental yield. The effective property tax rate is 1.0%.

#Rent & investment

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

Monthly rent: $1,167^[2]
Gross yield: 6.9%^[2]
Cap rate: 4.1%^[2]

#Property tax

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

Effective tax rate: 1.0%^[3]
Typical annual tax: $2,105^[3]

#Climate risk

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

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

#Who lives here

Population: 26,304^[3]
Median household income: $67,414^[3]

#Migration

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

Net migration: -23^[5]
Moved in: 3,509
Moved out: 3,532

Schools

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

Public schools: 9
Elementary: 2
Middle: 1
High: 4

Monroe High School
High · Grades 8–12 · Monroe Public Schools
1,295 students
Custer Elementary School
Elementary · Grades PK–6 · Monroe Public Schools
674 students
Monroe Middle School
Middle · Grades 6–8 · Monroe Public Schools
661 students
Monroe County Middle College
High · Grades 9–12 · Monroe ISD
321 students
Orchard Center High School
High · Grades 6–12 · Monroe Public Schools
297 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 yield6.9%

Net yield (after ~40% expenses)4.1%

Annual rent$14,000

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$1,033

Loan principal$163,502

Down payment$40,876

Total interest paid$208,538

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 ratio1.18

Monthly cost to own$1,379

Monthly rent$1,167

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: 7th percentile^[1]
Rental yield: 0th percentile^[2]
Property tax: 53rd percentile^[3]

Frequently asked

How much is a home worth in ZIP code 48161?: The typical home in 48161 is worth $204,378, based on the Zillow Home Value Index.
Are home values rising in 48161?: Home values in 48161 are up 6.3% over the past year, and up 4.0% a year over five years.
What is the typical rent in 48161?: A typical home in 48161 rents for about $1,167 a month, a gross rental yield of 6.9%.
What is the property tax rate in 48161?: The effective property tax rate in 48161 is 1.0% — roughly $2,105 a year on a typical home.
Who lives in 48161?: ZIP code 48161 has a population of 26,304 and a median household income of $67,414.

#Comparable ZIPs

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

48166 vs 48161 →
Stony Point CDP, MI
Typical home
$202,586
Gross yield
—
48157 vs 48161 →
Luna Pier, MI
Typical home
$189,950
Gross yield
—
48162
Monroe, MI
Typical home
$236,070
Gross yield
—
48133
Luna Pier, MI
Typical home
$242,869
Gross yield
—
48145
MI
Typical home
$274,580
Gross yield
—
48159
Maybee, MI
Typical home
$285,899
Gross yield
—

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#Jump to section

U.S. ZIP Code · MI48161

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