How much is a home worth in ZIP code 48202?

The typical home in 48202 is worth $178,276, based on the Zillow Home Value Index.

Are home values rising in 48202?

Home values in 48202 are down 16.4% over the past year, and down 3.4% a year over five years.

What is the typical rent in 48202?

A typical home in 48202 rents for about $1,426 a month, a gross rental yield of 9.6%.

What is the property tax rate in 48202?

The effective property tax rate in 48202 is 1.1% — roughly $2,041 a year on a typical home.

ZIP code 48202 has a population of 15,780 and a median household income of $43,627.

HousingHandbookReference data

…

U.S. ZIP Code · MI48202

Wayne County · Detroit-Warren-Dearborn, MI

Typical home value

$178,276^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -16.4%
5-year / yr: -3.4%
10-year / yr: +3.5%

Relative price

vs U.S.: -37.2%
vs metro: -41.1%
vs state: -25.4%

Price history

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

The typical home in 48202 is worth $178,276 — 41.1% below the Detroit-Warren-Dearborn, MI median. Over the past year, values have fallen 16.4%. Homes here rent for a typical $1,426 a month — a 9.6% 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: $1,426^[2]
Gross yield: 9.6%^[2]
Cap rate: 5.8%^[2]

#Property tax

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

Effective tax rate: 1.1%^[3]
Typical annual tax: $2,041^[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: 15,780^[3]
Median household income: $43,627^[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: 10
Elementary: 4
Middle: 2
High: 3

University Preparatory Art Design MiddleHigh
High · Grades 6–12 · University Preparatory Art & Design
882 students
University Preparatory Academy PSAD High School
High · Grades 9–12 · University Preparatory Academy (PSAD)
567 students
University Preparatory Science and Math PSAD Middle School
Middle · Grades 6–8 · University Preparatory Science and Math (PSAD)
509 students
University Preparatory Academy PSAD Elementary
Elementary · Grades K–5 · University Preparatory Academy (PSAD)
470 students
University Preparatory Academy PSAD Elementary
Elementary · Grades K–5 · University Preparatory Academy (PSAD)
436 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 yield9.6%

Net yield (after ~40% expenses)5.8%

Annual rent$17,111

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$901

Loan principal$142,621

Down payment$35,655

Total interest paid$181,905

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 ratio0.86

Monthly cost to own$1,219

Monthly rent$1,426

Owning 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: 1st percentile^[1]
Rental yield: 73rd percentile^[2]
Property tax: 39th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 48202?: The typical home in 48202 is worth $178,276, based on the Zillow Home Value Index.
Are home values rising in 48202?: Home values in 48202 are down 16.4% over the past year, and down 3.4% a year over five years.
What is the typical rent in 48202?: A typical home in 48202 rents for about $1,426 a month, a gross rental yield of 9.6%.
What is the property tax rate in 48202?: The effective property tax rate in 48202 is 1.1% — roughly $2,041 a year on a typical home.
Who lives in 48202?: ZIP code 48202 has a population of 15,780 and a median household income of $43,627.

#Comparable ZIPs

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

48043 vs 48202 →
Mount Clemens, MI
Typical home
$178,471
Gross yield
7.6%
48180 vs 48202 →
Taylor, MI
Typical home
$177,981
Gross yield
9.4%
48239
Detroit, MI
Typical home
$176,437
Gross yield
10.8%
48184
Wayne, MI
Typical home
$174,631
Gross yield
8.3%
48060
Port Huron, MI
Typical home
$172,604
Gross yield
7.4%
48066
Roseville, MI
Typical home
$172,245
Gross yield
9.2%

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#Jump to section

U.S. ZIP Code · MI48202

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