Home Values

48202 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

$54,000

  • 2.9% 1-year change
  • 4.2% 1-year forecast

The median home value in 48202 is $54,000. 48202 home values have gone up 2.9% over the past year and Zillow predicts they will rise 4.2% within the next year. The median price of homes currently listed in 48202 is $45,000 while the median price of homes that sold is $77,153.

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 48202 is 3.5%, which is lower than the national value of 6.4%. 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 48202 homeowners underwater on their mortgage is 44.6%, which is higher than Detroit at 42.0%.

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Relative ZHVI
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48202 Market Overview

Data through Dec 31, 2014
  • $54,000 ZHVI
  • 4.2% 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
    (Dec 31, 2015)
  • $45,000 Median listing price
  • No recent data Median sale price
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48202 Market Health

Data through Dec 31, 2014
  • 1.6/10 Less 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
  • 44.6% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • 3.5% Delinquent on mortgage (6.4% US Avg) (Sep 30, 2014)
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Nearby Zip Codes

Name Median ZHVI
48201 $90,500
48206 $47,700
48203 $44,400
Name Median ZHVI
48204 $42,800
48210 $39,900
48209 $39,200
Name Median ZHVI
48212 $38,500
48238 $38,300
48234 $38,200

Listings & Sales

Data through Dec 31, 2014
  • $20 Median list price / sq ft
  • No recent data Median sale price / sq ft
  • 13.1% Listings with price cut
18.8%
Sold below listing
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48202 Rentals

Data through Dec 31, 2014
  • Zillow Rent Index

  • $747 48202
    $744 Detroit
    $1,345 United States

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

  • 0.9 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 data Rent list price
  • No data Rent list price / sq ft
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