Home Values

48213 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

$40,800

  • -3.5% 1-year change
  • -2.1% 1-year forecast

The median home value in 48213 is $40,800. 48213 home values have declined -3.5% over the past year and Zillow predicts they will fall -2.1% within the next year. The median list price per square foot in 48213 is $4, which is lower than the Detroit average of $15. The median price of homes currently listed in 48213 is $4,900 while the median price of homes that sold is $68,923. The median rent price in 48213 is $600, which is lower than the Detroit median of $725.

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 48213 is 14.3%, which is higher 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 48213 homeowners underwater on their mortgage is 34.9%, which is lower than Detroit at 42.0%.

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Relative ZHVI
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48213 Market Overview

Data through Dec 31, 2014
  • $40,800 ZHVI
  • -2.1% 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)
  • $4,900 Median listing price
  • No recent data Median sale price
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48213 Market Health

Data through Dec 31, 2014
  • 0.1/10 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
  • 34.9% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • 14.3% Delinquent on mortgage (6.4% US Avg) (Sep 30, 2014)
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Nearby Zip Codes

Name Median ZHVI
48230 $282,200
48225 $57,500
48089 $48,200
Name Median ZHVI
48214 $47,900
48215 $45,800
48224 $41,100
Name Median ZHVI
48212 $38,500
48234 $38,200
48205 $35,300

Listings & Sales

Data through Dec 31, 2014
  • $4 Median list price / sq ft
  • No recent data Median sale price / sq ft
  • 12.5% Listings with price cut
46.2%
Sold below listing
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48213 Rentals

Data through Dec 31, 2014
  • Zillow Rent Index

  • $730 48213
    $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

  • 0.7 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $600 Rent list price
  • $0.55 Rent list price / sq ft
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