How much is a home worth in ZIP code 48837?

The typical home in 48837 is worth $301,150, based on the Zillow Home Value Index.

Are home values rising in 48837?

Home values in 48837 are up 3.3% over the past year, and up 4.9% a year over five years.

What is the typical rent in 48837?

A typical home in 48837 rents for about $1,443 a month, a gross rental yield of 5.8%.

What is the property tax rate in 48837?

The effective property tax rate in 48837 is 1.4% — roughly $4,185 a year on a typical home.

ZIP code 48837 has a population of 19,947 and a median household income of $96,517.

HousingHandbookReference data

…

U.S. ZIP Code · MI48837

Eaton County · Lansing-East Lansing, MI

Typical home value

$301,150^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +3.3%
5-year / yr: +4.9%
10-year / yr: +6.1%

Relative price

vs U.S.: +6.0%
vs metro: +16.1%
vs state: +26.0%

Price history

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

The typical home in 48837 is worth $301,150 — 16.1% above the Lansing-East Lansing, MI median. Over the past year, values have risen 3.3%. Homes here rent for a typical $1,443 a month — a 5.8% 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: $1,443^[2]
Gross yield: 5.8%^[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: $4,185^[3]

#Climate risk

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

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

#Who lives here

Population: 19,947^[3]
Median household income: $96,517^[3]

#Migration

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

Net migration: -59^[5]
Moved in: 3,711
Moved out: 3,770

Schools

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

Public schools: 7
Elementary: 3
Middle: 2
High: 2

Grand Ledge High School
High · Grades 9–12 · Grand Ledge Public Schools
1,683 students
Kenneth T Beagle Middle School
Middle · Grades 7–8 · Grand Ledge Public Schools
840 students
Leon W Hayes Intermediate School
Middle · Grades 5–6 · Grand Ledge Public Schools
775 students
Willow Ridge Elementary School
Elementary · Grades K–4 · Grand Ledge Public Schools
534 students
TC Holbrook Elementary School
Elementary · Grades K–4 · Grand Ledge Public Schools
457 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 yield5.8%

Net yield (after ~40% expenses)3.5%

Annual rent$17,319

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$1,523

Loan principal$240,920

Down payment$60,230

Total interest paid$307,281

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 ratio1.47

Monthly cost to own$2,123

Monthly rent$1,443

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: 50th percentile^[1]
Rental yield: 25th percentile^[2]
Property tax: 56th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 48837?: The typical home in 48837 is worth $301,150, based on the Zillow Home Value Index.
Are home values rising in 48837?: Home values in 48837 are up 3.3% over the past year, and up 4.9% a year over five years.
What is the typical rent in 48837?: A typical home in 48837 rents for about $1,443 a month, a gross rental yield of 5.8%.
What is the property tax rate in 48837?: The effective property tax rate in 48837 is 1.4% — roughly $4,185 a year on a typical home.
Who lives in 48837?: ZIP code 48837 has a population of 19,947 and a median household income of $96,517.

#Comparable ZIPs

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

48835 vs 48837 →
Fowler, MI
Typical home
$299,403
Gross yield
—
48821 vs 48837 →
Dimondale, MI
Typical home
$304,022
Gross yield
—
49285
Stockbridge, MI
Typical home
$294,276
Gross yield
—
48879
St. Johns, MI
Typical home
$291,419
Gross yield
—
48840
Haslett CDP, MI
Typical home
$311,398
Gross yield
5.1%
48819
Dansville, MI
Typical home
$284,248
Gross yield
—

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#Jump to section

U.S. ZIP Code · MI48837

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