How much is a home worth in ZIP code 48227?

The typical home in 48227 is worth $68,707, based on the Zillow Home Value Index.

Are home values rising in 48227?

Home values in 48227 are up 2.8% over the past year, and up 4.4% a year over five years.

What is the typical rent in 48227?

A typical home in 48227 rents for about $1,267 a month, a gross rental yield of 22.1%.

What is the property tax rate in 48227?

The effective property tax rate in 48227 is 1.7% — roughly $1,150 a year on a typical home.

ZIP code 48227 has a population of 40,302 and a median household income of $36,527.

HousingHandbookReference data

…

U.S. ZIP Code · MI48227

Wayne County · Detroit-Warren-Dearborn, MI

Typical home value

$68,707^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +2.8%
5-year / yr: +4.4%
10-year / yr: +10.4%

Relative price

vs U.S.: -75.8%
vs metro: -77.3%
vs state: -71.3%

Price history

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

The typical home in 48227 is worth $68,707 — 77.3% below the Detroit-Warren-Dearborn, MI median. Over the past year, values have risen 2.8%. Homes here rent for a typical $1,267 a month — a 22.1% gross rental yield. The effective property tax rate is 1.7%.

#Rent & investment

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

Monthly rent: $1,267^[2]
Gross yield: 22.1%^[2]
Cap rate: 13.3%^[2]

#Property tax

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

Effective tax rate: 1.7%^[3]
Typical annual tax: $1,150^[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: 40,302^[3]
Median household income: $36,527^[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: 5
Elementary: 5
Middle: 0
High: 0

John R King Academic and Performing Arts Academy
Elementary · Grades PK–8 · Detroit Public Schools Community District
845 students
Burns ElementaryMiddle School
Elementary · Grades PK–8 · Detroit Public Schools Community District
377 students
Coleman A Young Elementary School
Elementary · Grades PK–5 · Detroit Public Schools Community District
371 students
Dossin ElementaryMiddle School
Elementary · Grades PK–8 · Detroit Public Schools Community District
305 students
Edison Elementary School
Elementary · Grades PK–5 · Detroit Public Schools Community District
276 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 yield22.1%

Net yield (after ~40% expenses)13.3%

Annual rent$15,198

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$347

Loan principal$54,965

Down payment$13,741

Total interest paid$70,105

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 ratio0.40

Monthly cost to own$500

Monthly rent$1,267

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: 23rd percentile^[1]
Rental yield: 95th percentile^[2]
Property tax: 91st percentile^[3]

Rankings

Top-10 lists this ZIP code appears on.

8th for highest rental yield in MIView list →

Frequently asked

How much is a home worth in ZIP code 48227?: The typical home in 48227 is worth $68,707, based on the Zillow Home Value Index.
Are home values rising in 48227?: Home values in 48227 are up 2.8% over the past year, and up 4.4% a year over five years.
What is the typical rent in 48227?: A typical home in 48227 rents for about $1,267 a month, a gross rental yield of 22.1%.
What is the property tax rate in 48227?: The effective property tax rate in 48227 is 1.7% — roughly $1,150 a year on a typical home.
Who lives in 48227?: ZIP code 48227 has a population of 40,302 and a median household income of $36,527.

#Comparable ZIPs

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

48228 vs 48227 →
Detroit, MI
Typical home
$69,494
Gross yield
19.6%
48210 vs 48227 →
Detroit, MI
Typical home
$70,089
Gross yield
—
48217
Detroit, MI
Typical home
$59,888
Gross yield
—
48203
Detroit, MI
Typical home
$59,497
Gross yield
22.7%
48211
Detroit, MI
Typical home
$56,860
Gross yield
—
48760
MI
Typical home
$81,159
Gross yield
—

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#Jump to section

U.S. ZIP Code · MI48227

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