How much is a home worth in ZIP code 48235?

The typical home in 48235 is worth $92,918, based on the Zillow Home Value Index.

Are home values rising in 48235?

Home values in 48235 are down 3.3% over the past year, and up 3.8% a year over five years.

What is the typical rent in 48235?

A typical home in 48235 rents for about $1,311 a month, a gross rental yield of 16.9%.

What is the property tax rate in 48235?

The effective property tax rate in 48235 is 1.6% — roughly $1,464 a year on a typical home.

ZIP code 48235 has a population of 45,600 and a median household income of $39,265.

HousingHandbookReference data

…

U.S. ZIP Code · MI48235

Wayne County · Detroit-Warren-Dearborn, MI

Typical home value

$92,918^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -3.3%
5-year / yr: +3.8%
10-year / yr: +11.7%

Relative price

vs U.S.: -67.3%
vs metro: -69.3%
vs state: -61.1%

Price history

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

The typical home in 48235 is worth $92,918 — 69.3% below the Detroit-Warren-Dearborn, MI median. Over the past year, values have fallen 3.3%. Homes here rent for a typical $1,311 a month — a 16.9% 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: $1,311^[2]
Gross yield: 16.9%^[2]
Cap rate: 10.2%^[2]

#Property tax

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

Effective tax rate: 1.6%^[3]
Typical annual tax: $1,464^[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: 45,600^[3]
Median household income: $39,265^[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: 17
Elementary: 8
Middle: 1
High: 6

Renaissance High School
High · Grades 9–12 · Detroit Public Schools Community District
1,171 students
Foreign Language Immersion and Cultural Studies
Elementary · Grades PK–8 · Detroit Public Schools Community District
689 students
Bow ElementaryMiddle School
Elementary · Grades PK–8 · Detroit Public Schools Community District
514 students
LincolnKing Adams Young School Grove Campus
High · Grades 9–12 · Lincoln-King Adams-Young Academy
505 students
AdamsYoung Building
Elementary · Grades K–5 · Lincoln-King Adams-Young Academy
468 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 yield16.9%

Net yield (after ~40% expenses)10.2%

Annual rent$15,736

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$470

Loan principal$74,334

Down payment$18,584

Total interest paid$94,809

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 ratio0.51

Monthly cost to own$670

Monthly rent$1,311

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: 15th percentile^[1]
Rental yield: 91st percentile^[2]
Property tax: 83rd percentile^[3]

Rankings

Top-10 lists this ZIP code appears on.

10th for best 10-year appreciation in MIView list →

Frequently asked

How much is a home worth in ZIP code 48235?: The typical home in 48235 is worth $92,918, based on the Zillow Home Value Index.
Are home values rising in 48235?: Home values in 48235 are down 3.3% over the past year, and up 3.8% a year over five years.
What is the typical rent in 48235?: A typical home in 48235 rents for about $1,311 a month, a gross rental yield of 16.9%.
What is the property tax rate in 48235?: The effective property tax rate in 48235 is 1.6% — roughly $1,464 a year on a typical home.
Who lives in 48235?: ZIP code 48235 has a population of 45,600 and a median household income of $39,265.

#Comparable ZIPs

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

48219 vs 48235 →
Detroit, MI
Typical home
$90,152
Gross yield
16.2%
48206 vs 48235 →
Detroit, MI
Typical home
$89,916
Gross yield
17.0%
48209
Detroit, MI
Typical home
$89,818
Gross yield
13.4%
48214
Detroit, MI
Typical home
$89,148
Gross yield
17.5%
48223
Detroit, MI
Typical home
$88,710
Gross yield
16.4%
48215
Detroit, MI
Typical home
$97,498
Gross yield
—

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#Jump to section

U.S. ZIP Code · MI48235

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