How much is a home worth in ZIP code 48237?

The typical home in 48237 is worth $236,061, based on the Zillow Home Value Index.

Are home values rising in 48237?

Home values in 48237 are up 1.9% over the past year, and up 4.3% a year over five years.

What is the typical rent in 48237?

A typical home in 48237 rents for about $1,488 a month, a gross rental yield of 7.6%.

What is the property tax rate in 48237?

The effective property tax rate in 48237 is 1.4% — roughly $3,345 a year on a typical home.

ZIP code 48237 has a population of 29,318 and a median household income of $71,510.

HousingHandbookReference data

…

U.S. ZIP Code · MI48237

Oakland County · Detroit-Warren-Dearborn, MI

Typical home value

$236,061^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +1.9%
5-year / yr: +4.3%
10-year / yr: +9.3%

Relative price

vs U.S.: -16.9%
vs metro: -22.0%
vs state: -1.3%

Price history

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

The typical home in 48237 is worth $236,061 — 22.0% below the Detroit-Warren-Dearborn, MI median. Over the past year, values have risen 1.9%. Homes here rent for a typical $1,488 a month — a 7.6% 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: $1,488^[2]
Gross yield: 7.6%^[2]
Cap rate: 4.5%^[2]

#Property tax

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

Effective tax rate: 1.4%^[3]
Typical annual tax: $3,345^[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: 29,318^[3]
Median household income: $71,510^[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: 11
Elementary: 7
Middle: 1
High: 2

Oak Park High School
High · Grades 9–12 · Oak Park School District of the City of
873 students
Norup International School
Elementary · Grades K–8 · Berkley School District
688 students
Oak Park Preparatory Academy
Middle · Grades 6–8 · Oak Park School District of the City of
679 students
Ferndale Upper Elementary Campus
Elementary · Grades K–6 · Ferndale Public Schools
533 students
Key Elementary School
Elementary · Grades PK–5 · Oak Park School District of the City of
507 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 yield7.6%

Net yield (after ~40% expenses)4.5%

Annual rent$17,861

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$1,194

Loan principal$188,849

Down payment$47,212

Total interest paid$240,867

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 ratio1.12

Monthly cost to own$1,670

Monthly rent$1,488

Renting 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: 21st percentile^[1]
Rental yield: 58th percentile^[2]
Property tax: 69th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 48237?: The typical home in 48237 is worth $236,061, based on the Zillow Home Value Index.
Are home values rising in 48237?: Home values in 48237 are up 1.9% over the past year, and up 4.3% a year over five years.
What is the typical rent in 48237?: A typical home in 48237 rents for about $1,488 a month, a gross rental yield of 7.6%.
What is the property tax rate in 48237?: The effective property tax rate in 48237 is 1.4% — roughly $3,345 a year on a typical home.
Who lives in 48237?: ZIP code 48237 has a population of 29,318 and a median household income of $71,510.

#Comparable ZIPs

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

48464 vs 48237 →
Otter Lake, MI
Typical home
$235,891
Gross yield
—
48126 vs 48237 →
Dearborn, MI
Typical home
$235,531
Gross yield
9.1%
48026
Fraser, MI
Typical home
$238,809
Gross yield
—
48124
Dearborn, MI
Typical home
$238,913
Gross yield
8.8%
48075
Southfield, MI
Typical home
$239,103
Gross yield
8.0%
48040
Marysville, MI
Typical home
$232,347
Gross yield
—

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#Jump to section

U.S. ZIP Code · MI48237

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