Home Values

48206 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

$47,100

  • 1.7% 1-year change
  • -1.8% 1-year forecast

The median home value in 48206 is $47,100. 48206 home values have gone up 1.7% over the past year and Zillow predicts they will fall -1.8% within the next year. The median list price per square foot in 48206 is $5, which is lower than the Detroit average of $16. The median price of homes currently listed in 48206 is $10,000 while the median price of homes that sold is $60,000. The median rent price in 48206 is $650, which is lower than the Detroit median of $700.

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 48206 homeowners underwater on their mortgage is 31.1%, which is lower than Detroit at 45.2%.

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Relative ZHVI
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48206 Market Overview

Data through Feb 28, 2015
  • $47,100 ZHVI
  • -1.8% 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
    (Feb 29, 2016)
  • $10,000 Median listing price
  • No recent data Median sale price
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48206 Market Health

Data through Feb 28, 2015
  • 0.2/10 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
  • 31.1% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • No data Delinquent on mortgage (6.3% US Avg)
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Nearby Zip Codes

Name Median ZHVI
48201 $105,200
48202 $56,000
48203 $44,000
Name Median ZHVI
48212 $43,600
48221 $42,600
48210 $40,800
Name Median ZHVI
48238 $38,600
48209 $38,600
48204 $38,400

Listings & Sales

Data through Feb 28, 2015
  • $5 Median list price / sq ft
  • No recent data Median sale price / sq ft
  • 9.3% Listings with price cut
9.1%
Sold below listing
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48206 Rentals

Data through Feb 28, 2015
  • Zillow Rent Index

  • $746 48206
    $753 Detroit
    $1,355 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)
  • $650 Rent list price
  • No data Rent list price / sq ft
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