How much is a home worth in ZIP code 48216?

The typical home in 48216 is worth $193,844, based on the Zillow Home Value Index.

Are home values rising in 48216?

Home values in 48216 are down 4.3% over the past year, and down 1.8% a year over five years.

What is the typical rent in 48216?

A typical home in 48216 rents for about $1,709 a month, a gross rental yield of 10.6%.

What is the property tax rate in 48216?

The effective property tax rate in 48216 is 0.5% — roughly $1,006 a year on a typical home.

ZIP code 48216 has a population of 5,865 and a median household income of $44,335.

HousingHandbookReference data

…

U.S. ZIP Code · MI48216

Wayne County · Detroit-Warren-Dearborn, MI

Typical home value

$193,844^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -4.3%
5-year / yr: -1.8%
10-year / yr: +8.0%

Relative price

vs U.S.: -31.8%
vs metro: -36.0%
vs state: -18.9%

Price history

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

The typical home in 48216 is worth $193,844 — 36.0% below the Detroit-Warren-Dearborn, MI median. Over the past year, values have fallen 4.3%. Homes here rent for a typical $1,709 a month — a 10.6% gross rental yield. The effective property tax rate is 0.5%.

#Rent & investment

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

Monthly rent: $1,709^[2]
Gross yield: 10.6%^[2]
Cap rate: 6.3%^[2]

#Property tax

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

Effective tax rate: 0.5%^[3]
Typical annual tax: $1,006^[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: 5,865^[3]
Median household income: $44,335^[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: 3
Elementary: 1
Middle: 0
High: 2

Escuela Avancemos
Elementary · Grades K–8 · Escuela Avancemos
422 students
Covenant High School Southwest
High · Grades 9–12 · Covenant Schools Detroit
194 students
Detroit Public Safety Academy
High · Grades 6–12 · Detroit Public Safety Academy
176 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 yield10.6%

Net yield (after ~40% expenses)6.3%

Annual rent$20,503

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$980

Loan principal$155,075

Down payment$38,769

Total interest paid$197,790

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 ratio0.72

Monthly cost to own$1,226

Monthly rent$1,709

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: 2nd percentile^[1]
Rental yield: 77th percentile^[2]
Property tax: 0th percentile^[3]

Rankings

Top-10 lists this ZIP code appears on.

5th for lowest property tax in MIView list →

Frequently asked

How much is a home worth in ZIP code 48216?: The typical home in 48216 is worth $193,844, based on the Zillow Home Value Index.
Are home values rising in 48216?: Home values in 48216 are down 4.3% over the past year, and down 1.8% a year over five years.
What is the typical rent in 48216?: A typical home in 48216 rents for about $1,709 a month, a gross rental yield of 10.6%.
What is the property tax rate in 48216?: The effective property tax rate in 48216 is 0.5% — roughly $1,006 a year on a typical home.
Who lives in 48216?: ZIP code 48216 has a population of 5,865 and a median household income of $44,335.

#Comparable ZIPs

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

48195 vs 48216 →
Southgate, MI
Typical home
$194,729
Gross yield
10.2%
48192 vs 48216 →
Wyandotte, MI
Typical home
$189,594
Gross yield
7.6%
48186
Westland, MI
Typical home
$201,106
Gross yield
7.3%
48135
Garden City, MI
Typical home
$203,132
Gross yield
10.3%
48043
Mount Clemens, MI
Typical home
$178,471
Gross yield
7.6%
48202
Detroit, MI
Typical home
$178,276
Gross yield
9.6%

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Compare ZIPs

Pit ZIP 48216 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · MI48216

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