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An appreciation-lean market without the demand pressure to back it. The rent math runs thin.
What would change this read: a price correction (median already −10.4% YoY) or rent growth lifting rent-to-price toward 0.8%/mo would move this ZIP toward a cash-flow story. inventory, +10.0% YoY, is the number to watch.
The median listing price is down 10.4% YoY while the median home got down 10.8% bigger, so value per square foot is down 4.7%.
Min/max come from the active-listing pool; the median comes from Realtor's separate listing set — the two are not subsets of each other, so the median's position relative to the tiles above should not be read literally.
At the median, a $577K purchase rents for $2,000/mo: 0.35% of price per month against the 1% rule's 1.00%.
Not shown: Studio (rent only, no matching sale price), 1 BR (rent only, no matching sale price), 6 BR (sale only, no matching rent), 7 BR (sale only, no matching rent).
Sales here take about 15 days longer to go under contract than rentals (median across 3 property types).
Not shown: Apartment (rented here, not sold), Land (sold here, not rented), Multi-Family (sold here, not rented).
U.S. Census ACS characteristics for ZIP 48105 itself, not its parent county.
Renters hold 49.9% of this ZIP's 15,689 occupied households, on a median household income of $95K.
| Measure | ZIP 48105 | Washtenaw County | Difference |
|---|---|---|---|
| Median Household Income | $95K | $89K | +$6K |
| Below Poverty Level | 16.8% | 14.2% | +2.6% |
| Median Age | 31.60 | 35.00 | -3.40 |
| Total Population | 37,048 | 369,822 | -- |
| Avg Household Size | 2.18 | 2.33 | -0.15 |
| Owner-Occupied | 50.1% | 61.6% | -11.5% |
| Worked From Home | 28.4% | 22.6% | +5.8% |
| Mean Commute | 21.90 | 23.50 | -1.60 |
Higher or lower is not itself good or bad — it describes the neighborhood, not the investment.
ZIP-level figures come from ZIP Code Tabulation Areas, which approximate but do not exactly match USPS ZIP codes. A missing value is suppressed or unavailable at this sample size, not zero. Estimates for 2019–2020 use the 2010 ZCTA boundaries and 2021–2024 the 2020 ones, so a step between those two years may be a boundary change rather than real movement.
County population is up 0.4% to 369,822: residents under 18 are down 0.3% and those 65 and over are up 3.6%.
County median household income is $89K, 14.2% of residents are below the poverty level, 22.6% work from home.