How much is a home worth in ZIP code 48234?

The typical home in 48234 is worth $54,528, based on the Zillow Home Value Index.

Are home values rising in 48234?

Home values in 48234 are down 7.7% over the past year, and up 2.6% a year over five years.

What is the typical rent in 48234?

A typical home in 48234 rents for about $1,199 a month, a gross rental yield of 26.4%.

What is the property tax rate in 48234?

The effective property tax rate in 48234 is 1.6% — roughly $898 a year on a typical home.

ZIP code 48234 has a population of 32,760 and a median household income of $35,322.

HousingHandbookReference data

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U.S. ZIP Code · MI48234

Wayne County · Detroit-Warren-Dearborn, MI

Typical home value

$54,528^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -7.7%
5-year / yr: +2.6%
10-year / yr: +8.8%

Relative price

vs U.S.: -80.8%
vs metro: -82.0%
vs state: -77.2%

Price history

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

The typical home in 48234 is worth $54,528 — 82.0% below the Detroit-Warren-Dearborn, MI median. Over the past year, values have fallen 7.7%. Homes here rent for a typical $1,199 a month — a 26.4% 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: $1,199^[2]
Gross yield: 26.4%^[2]
Cap rate: 15.8%^[2]

#Property tax

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

Effective tax rate: 1.6%^[3]
Typical annual tax: $898^[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: 32,760^[3]
Median household income: $35,322^[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: 6
Elementary: 4
Middle: 0
High: 1

Legacy Charter Academy
Elementary · Grades K–8 · Legacy Charter Academy
725 students
Cornerstone JeffersonDouglass Academy
Other · Grades K–12 · Cornerstone Jefferson-Douglass Academy
529 students
Dove Academy of Detroit
Elementary · Grades PK–8 · Dove Academy of Detroit
500 students
Mason Academy
Elementary · Grades PK–8 · Detroit Public Schools Community District
456 students
Pershing High School
High · Grades 9–12 · Detroit Public Schools Community District
378 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 yield26.4%

Net yield (after ~40% expenses)15.8%

Annual rent$14,392

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$276

Loan principal$43,622

Down payment$10,906

Total interest paid$55,638

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 ratio0.33

Monthly cost to own$396

Monthly rent$1,199

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: 9th percentile^[1]
Rental yield: 98th percentile^[2]
Property tax: 88th percentile^[3]

Rankings

Top-10 lists this ZIP code appears on.

Frequently asked

How much is a home worth in ZIP code 48234?: The typical home in 48234 is worth $54,528, based on the Zillow Home Value Index.
Are home values rising in 48234?: Home values in 48234 are down 7.7% over the past year, and up 2.6% a year over five years.
What is the typical rent in 48234?: A typical home in 48234 rents for about $1,199 a month, a gross rental yield of 26.4%.
What is the property tax rate in 48234?: The effective property tax rate in 48234 is 1.6% — roughly $898 a year on a typical home.
Who lives in 48234?: ZIP code 48234 has a population of 32,760 and a median household income of $35,322.

#Comparable ZIPs

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

48238 vs 48234 →
Detroit, MI
Typical home
$53,661
Gross yield
26.8%
48204 vs 48234 →
Detroit, MI
Typical home
$53,352
Gross yield
24.8%
48205
Detroit, MI
Typical home
$52,542
Gross yield
29.1%
48211
Detroit, MI
Typical home
$56,860
Gross yield
—
48203
Detroit, MI
Typical home
$59,497
Gross yield
22.7%
48217
Detroit, MI
Typical home
$59,888
Gross yield
—

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Compare ZIPs

Pit ZIP 48234 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · MI48234

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