How much is a home worth in ZIP code 48309?

The typical home in 48309 is worth $485,806, based on the Zillow Home Value Index.

Are home values rising in 48309?

Home values in 48309 are up 3.6% over the past year, and up 6.1% a year over five years.

What is the typical rent in 48309?

A typical home in 48309 rents for about $2,133 a month, a gross rental yield of 5.3%.

What is the property tax rate in 48309?

The effective property tax rate in 48309 is 1.1% — roughly $5,263 a year on a typical home.

ZIP code 48309 has a population of 30,685 and a median household income of $121,007.

HousingHandbookReference data

…

U.S. ZIP Code · MI48309

Oakland County · Detroit-Warren-Dearborn, MI

Typical home value

$485,806^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +3.6%
5-year / yr: +6.1%
10-year / yr: +5.8%

Relative price

vs U.S.: +71.0%
vs metro: +60.5%
vs state: +103.2%

Price history

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

The typical home in 48309 is worth $485,806 — 60.5% above the Detroit-Warren-Dearborn, MI median. Over the past year, values have risen 3.6%. Homes here rent for a typical $2,133 a month — a 5.3% gross rental yield. The effective property tax rate is 1.1%.

#Rent & investment

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

Monthly rent: $2,133^[2]
Gross yield: 5.3%^[2]
Cap rate: 3.2%^[2]

#Property tax

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

Effective tax rate: 1.1%^[3]
Typical annual tax: $5,263^[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: 30,685^[3]
Median household income: $121,007^[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: 9
Elementary: 4
Middle: 2
High: 3

West Middle School
High · Grades 6–12 · Rochester Community School District
807 students
Avondale Middle School
Middle · Grades 6–8 · Avondale School District
594 students
Long Meadow Elementary School
Elementary · Grades PK–5 · Rochester Community School District
544 students
Diploma and Careers Institute
High · Grades 9–12 · Avondale School District
478 students
University Hills Elem School
Elementary · Grades PK–5 · Rochester Community School District
403 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 yield5.3%

Net yield (after ~40% expenses)3.2%

Annual rent$25,590

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$2,456

Loan principal$388,645

Down payment$97,161

Total interest paid$495,695

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 ratio1.55

Monthly cost to own$3,299

Monthly rent$2,133

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: 90th percentile^[1]
Rental yield: 20th percentile^[2]
Property tax: 33rd percentile^[3]

Frequently asked

How much is a home worth in ZIP code 48309?: The typical home in 48309 is worth $485,806, based on the Zillow Home Value Index.
Are home values rising in 48309?: Home values in 48309 are up 3.6% over the past year, and up 6.1% a year over five years.
What is the typical rent in 48309?: A typical home in 48309 rents for about $2,133 a month, a gross rental yield of 5.3%.
What is the property tax rate in 48309?: The effective property tax rate in 48309 is 1.1% — roughly $5,263 a year on a typical home.
Who lives in 48309?: ZIP code 48309 has a population of 30,685 and a median household income of $121,007.

#Comparable ZIPs

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

48069 vs 48309 →
Pleasant Ridge, MI
Typical home
$485,404
Gross yield
—
48170 vs 48309 →
Plymouth, MI
Typical home
$481,028
Gross yield
4.6%
48230
Grosse Pointe Park, MI
Typical home
$490,826
Gross yield
3.8%
48084
Troy, MI
Typical home
$491,536
Gross yield
4.0%
48324
Orchard Lake Village, MI
Typical home
$478,185
Gross yield
3.3%
48114
Brighton, MI
Typical home
$477,141
Gross yield
—

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#Jump to section

U.S. ZIP Code · MI48309

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