dynamic.RE
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A middling-yield market. Neither rent nor appreciation makes the case on its own.
What would change this read: a price correction (median already +2.0% YoY) or rent growth lifting rent-to-price toward 0.8%/mo would move this ZIP toward a cash-flow story. inventory, +28.1% YoY, is the number to watch.
The median listing price is up 2.0% YoY while the median home got down 3.9% bigger, so value per square foot is up 9.2%.
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 $257K purchase rents for $1,550/mo: 0.60% of price per month against the 1% rule's 1.00%.
Not shown: 6 BR (sale only, no matching rent), 8 BR (sale only, no matching rent).
Sales here take about 36 days longer to go under contract than rentals (median across 4 property types).
Not shown: Apartment (rented here, not sold), Land (sold here, not rented).
U.S. Census ACS characteristics for ZIP 48202 itself, not its parent county.
Renters hold 69.1% of this ZIP's 7,581 occupied households, on a median household income of $44K.
| Measure | ZIP 48202 | Wayne County | Difference |
|---|---|---|---|
| Median Household Income | $44K | $61K | -$17K |
| Below Poverty Level | 27.9% | 20.8% | +7.1% |
| Median Age | 32.40 | 37.90 | -5.50 |
| Total Population | 15,780 | 1,772,259 | -- |
| Avg Household Size | 1.80 | 2.50 | -0.70 |
| Owner-Occupied | 30.9% | 64.8% | -33.8% |
| Worked From Home | 14.6% | 14.1% | +0.5% |
| Mean Commute | 22.50 | 24.70 | -2.20 |
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 down 0.1% to 1,772,259: residents under 18 are down 0.6% and those 65 and over are up 2.5%.
County median household income is $61K, 20.8% of residents are below the poverty level, 14.1% work from home.