How much is a home worth in ZIP code 48603?

The typical home in 48603 is worth $226,542, based on the Zillow Home Value Index.

Are home values rising in 48603?

Home values in 48603 are up 6.2% over the past year, and up 7.2% a year over five years.

What is the typical rent in 48603?

A typical home in 48603 rents for about $1,117 a month, a gross rental yield of 5.9%.

What is the property tax rate in 48603?

The effective property tax rate in 48603 is 1.4% — roughly $3,077 a year on a typical home.

ZIP code 48603 has a population of 27,757 and a median household income of $66,352.

HousingHandbookReference data

…

U.S. ZIP Code · MI48603

Saginaw County · Saginaw, MI

Typical home value

$226,542^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +6.2%
5-year / yr: +7.2%
10-year / yr: +6.8%

Relative price

vs U.S.: -20.3%
vs metro: +11.7%
vs state: -5.3%

Price history

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

The typical home in 48603 is worth $226,542 — 11.7% above the Saginaw, MI median. Over the past year, values have risen 6.2%. Homes here rent for a typical $1,117 a month — a 5.9% 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: $1,117^[2]
Gross yield: 5.9%^[2]
Cap rate: 3.5%^[2]

#Property tax

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

Effective tax rate: 1.4%^[3]
Typical annual tax: $3,077^[3]

#Climate risk

FEMA National Risk Index ratings for Saginaw County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively Moderate^[4]
Riverine flood: Relatively Moderate
Coastal flood: Not Applicable
Wildfire: Very Low
Drought: No Rating
Heat wave: Relatively Low
Hurricane: Very Low
Tornado: Relatively High
Earthquake: Relatively Low
Winter weather: Very High

#Who lives here

Population: 27,757^[3]
Median household income: $66,352^[3]

#Migration

Household moves in and out of Saginaw County over a year, from IRS tax-return data.

Net migration: -341^[5]
Moved in: 3,690
Moved out: 4,031

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 6
Elementary: 2
Middle: 0
High: 2

Heritage High School
High · Grades 9–12 · Saginaw Township Community Schools
1,324 students
Sherwood Elementary School
Elementary · Grades PK–5 · Saginaw Township Community Schools
547 students
Weiss Elementary School
Elementary · Grades PK–5 · Saginaw Township Community Schools
354 students
Mackinaw High School
High · Grades 9–12 · Saginaw Township Community Schools
141 students
Saginaw ISD Transitions Center
Other · Grades K–12 · Saginaw ISD
97 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 yield5.9%

Net yield (after ~40% expenses)3.5%

Annual rent$13,399

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$1,146

Loan principal$181,233

Down payment$45,308

Total interest paid$231,153

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 ratio1.42

Monthly cost to own$1,591

Monthly rent$1,117

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: 71st percentile^[1]
Rental yield: 0th percentile^[2]
Property tax: 71st percentile^[3]

Frequently asked

How much is a home worth in ZIP code 48603?: The typical home in 48603 is worth $226,542, based on the Zillow Home Value Index.
Are home values rising in 48603?: Home values in 48603 are up 6.2% over the past year, and up 7.2% a year over five years.
What is the typical rent in 48603?: A typical home in 48603 rents for about $1,117 a month, a gross rental yield of 5.9%.
What is the property tax rate in 48603?: The effective property tax rate in 48603 is 1.4% — roughly $3,077 a year on a typical home.
Who lives in 48603?: ZIP code 48603 has a population of 27,757 and a median household income of $66,352.

#Comparable ZIPs

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

48415 vs 48603 →
Birch Run, MI
Typical home
$235,418
Gross yield
—
48609 vs 48603 →
Shields CDP, MI
Typical home
$216,468
Gross yield
—
48614
MI
Typical home
$215,980
Gross yield
—
48616
Chesaning, MI
Typical home
$213,172
Gross yield
—
48626
Hemlock CDP, MI
Typical home
$247,846
Gross yield
—
48417
Burt CDP, MI
Typical home
$204,078
Gross yield
—

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Pit ZIP 48603 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · MI48603

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