Home Values

48126 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

$93,900

  • 20.5% 1-year change
  • 8.4% 1-year forecast

The median home value in 48126 is $93,900. 48126 home values have gone up 20.5% over the past year and Zillow predicts they will rise 8.4% within the next year. The median list price per square foot in 48126 is $70, which is lower than the Dearborn average of $72. The median price of homes currently listed in 48126 is $119,900 while the median price of homes that sold is $71,400. The median rent price in 48126 is $1,100, which is the same as 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 48126 is 2.2%, 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 48126 homeowners underwater on their mortgage is 30.1%, which is lower than Dearborn at 30.6%.

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Relative ZHVI
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48126 Market Overview

Data through Aug 31, 2014
  • $93,900 ZHVI
  • 8.4% 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
    (Aug 31, 2015)
  • $119,900 Median listing price
  • No recent data Median sale price
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48126 Market Health

Data through Aug 31, 2014
  • 9.1/10 Very healthy
    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
  • 30.1% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 2.2% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)
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Nearby Zip Codes

Name Median ZHVI
48120 $107,600
48122 $42,900
48227 $42,800
Name Median ZHVI
48204 $42,600
48210 $40,100
48217 $40,100
Name Median ZHVI
48228 $36,500
 
 

Listings & Sales

Data through Aug 31, 2014
  • $70 Median list price / sq ft
  • $61 Median sale price / sq ft (Jul 31, 2014)
  • 46.3% Listings with price cut
13.1%
Sold below listing
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48126 Rentals

Data through Aug 31, 2014
  • Zillow Rent Index

  • $879 48126
    $957 Dearborn
    $1,328 United States

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

  • 1.0 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $1,100 Rent list price
  • $1.06 Rent list price / sq ft
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