How much is a home worth in ZIP code 48221?

The typical home in 48221 is worth $135,591, based on the Zillow Home Value Index.

Are home values rising in 48221?

Home values in 48221 are down 5.6% over the past year, and up 0.9% a year over five years.

What is the typical rent in 48221?

A typical home in 48221 rents for about $1,372 a month, a gross rental yield of 12.1%.

What is the property tax rate in 48221?

The effective property tax rate in 48221 is 1.4% — roughly $1,902 a year on a typical home.

ZIP code 48221 has a population of 41,392 and a median household income of $57,878.

HousingHandbookReference data

…

U.S. ZIP Code · MI48221

Wayne County · Detroit-Warren-Dearborn, MI

Typical home value

$135,591^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -5.6%
5-year / yr: +0.9%
10-year / yr: +11.1%

Relative price

vs U.S.: -52.3%
vs metro: -55.2%
vs state: -43.3%

Price history

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

The typical home in 48221 is worth $135,591 — 55.2% below the Detroit-Warren-Dearborn, MI median. Over the past year, values have fallen 5.6%. Homes here rent for a typical $1,372 a month — a 12.1% gross rental yield. The effective property tax rate is 1.4%.

#Rent & investment

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

Monthly rent: $1,372^[2]
Gross yield: 12.1%^[2]
Cap rate: 7.3%^[2]

#Property tax

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

Effective tax rate: 1.4%^[3]
Typical annual tax: $1,902^[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: 41,392^[3]
Median household income: $57,878^[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: 9
Elementary: 7
Middle: 0
High: 1

Mumford High School
High · Grades 9–12 · Detroit Public Schools Community District
852 students
Bates Academy
Elementary · Grades PK–8 · Detroit Public Schools Community District
785 students
Schulze Academy for Technology and Arts
Elementary · Grades PK–8 · Detroit Public Schools Community District
631 students
The School at Marygrove
Other · Grades K–12 · Detroit Public Schools Community District
534 students
Paul Robeson Malcolm X Academy
Elementary · Grades PK–8 · Detroit Public Schools Community District
392 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 yield12.1%

Net yield (after ~40% expenses)7.3%

Annual rent$16,459

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$686

Loan principal$108,473

Down payment$27,118

Total interest paid$138,351

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 ratio0.70

Monthly cost to own$957

Monthly rent$1,372

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: 7th percentile^[1]
Rental yield: 86th percentile^[2]
Property tax: 66th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 48221?: The typical home in 48221 is worth $135,591, based on the Zillow Home Value Index.
Are home values rising in 48221?: Home values in 48221 are down 5.6% over the past year, and up 0.9% a year over five years.
What is the typical rent in 48221?: A typical home in 48221 rents for about $1,372 a month, a gross rental yield of 12.1%.
What is the property tax rate in 48221?: The effective property tax rate in 48221 is 1.4% — roughly $1,902 a year on a typical home.
Who lives in 48221?: ZIP code 48221 has a population of 41,392 and a median household income of $57,878.

#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 48221 →
Warren, MI
Typical home
$131,032
Gross yield
12.1%
48208 vs 48221 →
Detroit, MI
Typical home
$131,031
Gross yield
12.7%
48342
Pontiac, MI
Typical home
$130,942
Gross yield
12.1%
48340
Pontiac, MI
Typical home
$141,215
Gross yield
—
48122
Melvindale, MI
Typical home
$141,352
Gross yield
9.2%
48212
Detroit, MI
Typical home
$124,963
Gross yield
11.1%

Want similar ZIPs from outside this metro? Browse nationally similar ZIPs →

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Pit ZIP 48221 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · MI48221

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