How much is a home worth in ZIP code 48220?

The typical home in 48220 is worth $248,740, based on the Zillow Home Value Index.

Are home values rising in 48220?

Home values in 48220 are down 0.7% over the past year, and up 3.0% a year over five years.

What is the typical rent in 48220?

A typical home in 48220 rents for about $1,747 a month, a gross rental yield of 8.4%.

What is the property tax rate in 48220?

The effective property tax rate in 48220 is 1.6% — roughly $4,063 a year on a typical home.

ZIP code 48220 has a population of 21,527 and a median household income of $89,881.

HousingHandbookReference data

…

U.S. ZIP Code · MI48220

Oakland County · Detroit-Warren-Dearborn, MI

Typical home value

$248,740^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -0.7%
5-year / yr: +3.0%
10-year / yr: +6.4%

Relative price

vs U.S.: -12.4%
vs metro: -17.8%
vs state: +4.0%

Price history

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

The typical home in 48220 is worth $248,740 — 17.8% below the Detroit-Warren-Dearborn, MI median. Over the past year, values have fallen 0.7%. Homes here rent for a typical $1,747 a month — a 8.4% gross rental yield. The effective property tax rate is 1.6%.

#Rent & investment

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

Monthly rent: $1,747^[2]
Gross yield: 8.4%^[2]
Cap rate: 5.1%^[2]

#Property tax

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

Effective tax rate: 1.6%^[3]
Typical annual tax: $4,063^[3]

#Climate risk

FEMA National Risk Index ratings for Oakland County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively High^[4]
Riverine flood: Relatively High
Coastal flood: Not Applicable
Wildfire: Very Low
Drought: No Rating
Heat wave: Relatively High
Hurricane: Very Low
Tornado: Very High
Earthquake: Relatively Low
Winter weather: Relatively High

#Who lives here

Population: 21,527^[3]
Median household income: $89,881^[3]

#Migration

Household moves in and out of Oakland County over a year, from IRS tax-return data.

Net migration: -3,230^[5]
Moved in: 30,811
Moved out: 34,041

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 8
Elementary: 1
Middle: 1
High: 3

Ferndale High School
High · Grades 9–12 · Ferndale Public Schools
734 students
Ferndale Middle School
Middle · Grades 6–8 · Ferndale Public Schools
521 students
University High School
High · Grades 9–12 · Ferndale Public Schools
494 students
Ferndale Lower Elementary Campus
Elementary · Grades K–3 · Ferndale Public Schools
475 students
Tri County Educational Center
High · Grades 9–12 · Ferndale Public Schools
373 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 yield8.4%

Net yield (after ~40% expenses)5.1%

Annual rent$20,959

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$1,258

Loan principal$198,992

Down payment$49,748

Total interest paid$253,803

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 ratio1.03

Monthly cost to own$1,803

Monthly rent$1,747

Owning and renting are roughly even.

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: 12th percentile^[1]
Rental yield: 66th percentile^[2]
Property tax: 86th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 48220?: The typical home in 48220 is worth $248,740, based on the Zillow Home Value Index.
Are home values rising in 48220?: Home values in 48220 are down 0.7% over the past year, and up 3.0% a year over five years.
What is the typical rent in 48220?: A typical home in 48220 rents for about $1,747 a month, a gross rental yield of 8.4%.
What is the property tax rate in 48220?: The effective property tax rate in 48220 is 1.6% — roughly $4,063 a year on a typical home.
Who lives in 48220?: ZIP code 48220 has a population of 21,527 and a median household income of $89,881.

#Comparable ZIPs

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

48097 vs 48220 →
Yale, MI
Typical home
$248,574
Gross yield
—
48193 vs 48220 →
Riverview, MI
Typical home
$247,480
Gross yield
5.9%
48014
Capac, MI
Typical home
$250,076
Gross yield
—
48092
Warren, MI
Typical home
$244,837
Gross yield
8.3%
48440
MI
Typical home
$243,898
Gross yield
—
48120
Dearborn, MI
Typical home
$253,840
Gross yield
—

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#Jump to section

U.S. ZIP Code · MI48220

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