How much is a home worth in ZIP code 48209?

The typical home in 48209 is worth $89,818, based on the Zillow Home Value Index.

Are home values rising in 48209?

Home values in 48209 are down 0.4% over the past year, and down 1.7% a year over five years.

What is the typical rent in 48209?

A typical home in 48209 rents for about $1,004 a month, a gross rental yield of 13.4%.

What is the property tax rate in 48209?

The effective property tax rate in 48209 is 1.3% — roughly $1,156 a year on a typical home.

ZIP code 48209 has a population of 27,184 and a median household income of $43,161.

HousingHandbookReference data

…

U.S. ZIP Code · MI48209

Wayne County · Detroit-Warren-Dearborn, MI

Typical home value

$89,818^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -0.4%
5-year / yr: -1.7%
10-year / yr: +8.4%

Relative price

vs U.S.: -68.4%
vs metro: -70.3%
vs state: -62.4%

Price history

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

The typical home in 48209 is worth $89,818 — 70.3% below the Detroit-Warren-Dearborn, MI median. Over the past year, values have fallen 0.4%. Homes here rent for a typical $1,004 a month — a 13.4% gross rental yield. The effective property tax rate is 1.3%.

#Rent & investment

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

Monthly rent: $1,004^[2]
Gross yield: 13.4%^[2]
Cap rate: 8.0%^[2]

#Property tax

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

Effective tax rate: 1.3%^[3]
Typical annual tax: $1,156^[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: 27,184^[3]
Median household income: $43,161^[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: 12
Elementary: 7
Middle: 2
High: 3

Western International High School
High · Grades 9–12 · Detroit Public Schools Community District
1,931 students
Earhart ElementaryMiddle School
Elementary · Grades PK–8 · Detroit Public Schools Community District
899 students
Cesar Chavez High School
High · Grades 9–12 · Cesar Chavez Academy
693 students
Cesar Chavez Middle School
Middle · Grades 6–8 · Cesar Chavez Academy
629 students
Roberto Clemente Learning Academy
Elementary · Grades PK–5 · Detroit Public Schools Community District
477 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 yield13.4%

Net yield (after ~40% expenses)8.0%

Annual rent$12,045

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$454

Loan principal$71,855

Down payment$17,964

Total interest paid$91,647

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 ratio0.62

Monthly cost to own$626

Monthly rent$1,004

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: 3rd percentile^[1]
Rental yield: 88th percentile^[2]
Property tax: 56th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 48209?: The typical home in 48209 is worth $89,818, based on the Zillow Home Value Index.
Are home values rising in 48209?: Home values in 48209 are down 0.4% over the past year, and down 1.7% a year over five years.
What is the typical rent in 48209?: A typical home in 48209 rents for about $1,004 a month, a gross rental yield of 13.4%.
What is the property tax rate in 48209?: The effective property tax rate in 48209 is 1.3% — roughly $1,156 a year on a typical home.
Who lives in 48209?: ZIP code 48209 has a population of 27,184 and a median household income of $43,161.

#Comparable ZIPs

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

48206 vs 48209 →
Detroit, MI
Typical home
$89,916
Gross yield
17.0%
48219 vs 48209 →
Detroit, MI
Typical home
$90,152
Gross yield
16.2%
48214
Detroit, MI
Typical home
$89,148
Gross yield
17.5%
48223
Detroit, MI
Typical home
$88,710
Gross yield
16.4%
48235
Detroit, MI
Typical home
$92,918
Gross yield
16.9%
48218
River Rouge, MI
Typical home
$86,558
Gross yield
—

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#Jump to section

U.S. ZIP Code · MI48209

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