Home Values

48120 Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$116,000

  • 17.4% 1-year change
  • 2.6% 1-year forecast

The median home value in 48120 is $116,000. 48120 home values have gone up 17.4% over the past year and Zillow predicts they will rise 2.6% within the next year. The median price of homes currently listed in 48120 is $149,900 while the median price of homes that sold is $46,731. The median rent price in 48120 is $1,075, which is lower than the Dearborn median of $1,100.

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in 48120 is 1.2%, which is lower than the national value of 6.9%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of 48120 homeowners underwater on their mortgage is 27.4%, which is lower than Dearborn at 30.6%.

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Relative ZHVI
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48120 Market Overview

Data through Oct 31, 2014
  • $116,000 ZHVI
  • 2.6% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Oct 31, 2015)
  • $149,900 Median listing price
  • No recent data Median sale price
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48120 Market Health

Data through Oct 31, 2014
  • 5.3/10 Stable
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 27.4% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 1.2% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)
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Nearby Zip Codes

Name Median ZHVI
48126 $99,300
48122 $46,100
48217 $41,500

Listings & Sales

Data through Oct 31, 2014
  • $86 Median list price / sq ft
  • No recent data Median sale price / sq ft
  • 36.7% Listings with price cut
10.5%
Sold below listing
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48120 Rentals

Data through Oct 31, 2014
  • Zillow Rent Index

  • $900 48120
    $962 Dearborn
    $1,337 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 1.7 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • No recent data Rent list price
  • No recent data Rent list price / sq ft
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