How much is a home worth in ZIP code 48208?

The typical home in 48208 is worth $131,031, based on the Zillow Home Value Index.

Are home values rising in 48208?

Home values in 48208 are down 11.8% over the past year, and down 2.6% a year over five years.

What is the typical rent in 48208?

A typical home in 48208 rents for about $1,388 a month, a gross rental yield of 12.7%.

What is the property tax rate in 48208?

The effective property tax rate in 48208 is 0.9% — roughly $1,234 a year on a typical home.

ZIP code 48208 has a population of 8,037 and a median household income of $36,194.

HousingHandbookReference data

…

U.S. ZIP Code · MI48208

Wayne County · Detroit-Warren-Dearborn, MI

Typical home value

$131,031^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -11.8%
5-year / yr: -2.6%
10-year / yr: +7.1%

Relative price

vs U.S.: -53.9%
vs metro: -56.7%
vs state: -45.2%

Price history

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

The typical home in 48208 is worth $131,031 — 56.7% below the Detroit-Warren-Dearborn, MI median. Over the past year, values have fallen 11.8%. Homes here rent for a typical $1,388 a month — a 12.7% gross rental yield. The effective property tax rate is 0.9%.

#Rent & investment

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

Monthly rent: $1,388^[2]
Gross yield: 12.7%^[2]
Cap rate: 7.6%^[2]

#Property tax

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

Effective tax rate: 0.9%^[3]
Typical annual tax: $1,234^[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: 8,037^[3]
Median household income: $36,194^[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: 6
Elementary: 2
Middle: 0
High: 4

Burton International Academy
Elementary · Grades PK–8 · Detroit Public Schools Community District
476 students
Detroit Lions Academy
High · Grades 6–12 · Detroit Public Schools Community District
394 students
George Crockett Academy
Elementary · Grades PK–8 · George Crockett Academy
321 students
Northwestern High School
High · Grades 9–12 · Detroit Public Schools Community District
291 students
Covenant High School Central
High · Grades 9–12 · Covenant Schools Detroit
219 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 yield12.7%

Net yield (after ~40% expenses)7.6%

Annual rent$16,650

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$663

Loan principal$104,825

Down payment$26,206

Total interest paid$133,698

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 ratio0.63

Monthly cost to own$874

Monthly rent$1,388

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: 87th percentile^[2]
Property tax: 17th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 48208?: The typical home in 48208 is worth $131,031, based on the Zillow Home Value Index.
Are home values rising in 48208?: Home values in 48208 are down 11.8% over the past year, and down 2.6% a year over five years.
What is the typical rent in 48208?: A typical home in 48208 rents for about $1,388 a month, a gross rental yield of 12.7%.
What is the property tax rate in 48208?: The effective property tax rate in 48208 is 0.9% — roughly $1,234 a year on a typical home.
Who lives in 48208?: ZIP code 48208 has a population of 8,037 and a median household income of $36,194.

#Comparable ZIPs

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

48089 vs 48208 →
Warren, MI
Typical home
$131,032
Gross yield
12.1%
48342 vs 48208 →
Pontiac, MI
Typical home
$130,942
Gross yield
12.1%
48221
Detroit, MI
Typical home
$135,591
Gross yield
12.1%
48212
Detroit, MI
Typical home
$124,963
Gross yield
11.1%
48340
Pontiac, MI
Typical home
$141,215
Gross yield
—
48122
Melvindale, MI
Typical home
$141,352
Gross yield
9.2%

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Pit ZIP 48208 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · MI48208

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