How much is a home worth in ZIP code 48207?

The typical home in 48207 is worth $147,426, based on the Zillow Home Value Index.

Are home values rising in 48207?

Home values in 48207 are down 9.7% over the past year, and down 0.8% a year over five years.

What is the typical rent in 48207?

A typical home in 48207 rents for about $1,471 a month, a gross rental yield of 12.0%.

What is the property tax rate in 48207?

The effective property tax rate in 48207 is 0.8% — roughly $1,198 a year on a typical home.

ZIP code 48207 has a population of 20,848 and a median household income of $47,831.

HousingHandbookReference data

…

U.S. ZIP Code · MI48207

Wayne County · Detroit-Warren-Dearborn, MI

Typical home value

$147,426^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -9.7%
5-year / yr: -0.8%
10-year / yr: +4.4%

Relative price

vs U.S.: -48.1%
vs metro: -51.3%
vs state: -38.3%

Price history

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

The typical home in 48207 is worth $147,426 — 51.3% below the Detroit-Warren-Dearborn, MI median. Over the past year, values have fallen 9.7%. Homes here rent for a typical $1,471 a month — a 12.0% gross rental yield. The effective property tax rate is 0.8%.

#Rent & investment

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

Monthly rent: $1,471^[2]
Gross yield: 12.0%^[2]
Cap rate: 7.2%^[2]

#Property tax

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

Effective tax rate: 0.8%^[3]
Typical annual tax: $1,198^[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: 20,848^[3]
Median household income: $47,831^[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: 6
Middle: 1
High: 3

Detroit Edison Public School Academy
Elementary · Grades PK–8 · Detroit Edison Public School Academy
855 students
Martin Luther King Jr Senior High School
High · Grades 9–12 · Detroit Public Schools Community District
808 students
Detroit Academy of Arts and Sciences
Elementary · Grades PK–5 · Detroit Academy of Arts and Sciences
645 students
University Preparatory Science and Math Elementary
Elementary · Grades K–5 · University Preparatory Science and Math (PSAD)
485 students
University Preparatory Science and Math PSAD High School
High · Grades 9–12 · University Preparatory Science and Math (PSAD)
432 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 yield12.0%

Net yield (after ~40% expenses)7.2%

Annual rent$17,648

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$745

Loan principal$117,940

Down payment$29,485

Total interest paid$150,427

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 ratio0.66

Monthly cost to own$968

Monthly rent$1,471

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: 4th percentile^[1]
Rental yield: 83rd percentile^[2]
Property tax: 5th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 48207?: The typical home in 48207 is worth $147,426, based on the Zillow Home Value Index.
Are home values rising in 48207?: Home values in 48207 are down 9.7% over the past year, and down 0.8% a year over five years.
What is the typical rent in 48207?: A typical home in 48207 rents for about $1,471 a month, a gross rental yield of 12.0%.
What is the property tax rate in 48207?: The effective property tax rate in 48207 is 0.8% — roughly $1,198 a year on a typical home.
Who lives in 48207?: ZIP code 48207 has a population of 20,848 and a median household income of $47,831.

#Comparable ZIPs

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

48341 vs 48207 →
Pontiac, MI
Typical home
$151,967
Gross yield
—
48225 vs 48207 →
Harper Woods, MI
Typical home
$152,670
Gross yield
10.8%
48146
Lincoln Park, MI
Typical home
$152,934
Gross yield
9.3%
48122
Melvindale, MI
Typical home
$141,352
Gross yield
9.2%
48340
Pontiac, MI
Typical home
$141,215
Gross yield
—
48021
Eastpointe, MI
Typical home
$154,597
Gross yield
10.9%

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Pit ZIP 48207 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · MI48207

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