dynamic.RE
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A cash-flow-lean market. Rents carry the return here rather than price growth.
What would change this read: price growth (median −2.6% YoY) outrunning rents would pull rent-to-price back under 0.8%/mo and weaken the cash-flow case. inventory, −10.5% YoY, is the number to watch.
The median listing price is down 2.6% YoY while the median home got up 0.7% bigger, so value per square foot is up 0.7%.
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 $92K purchase rents for $1,250/mo: 1.37% of price per month against the 1% rule's 1.00%.
Not shown: 7 BR (sale only, no matching rent), 8 BR (sale only, no matching rent).
Sales here take about 50 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 48224 itself, not its parent county.
Renters hold 44.1% of this ZIP's 14,451 occupied households, on a median household income of $45K.
| Measure | ZIP 48224 | Wayne County | Difference |
|---|---|---|---|
| Median Household Income | $45K | $61K | -$16K |
| Below Poverty Level | 33.5% | 20.8% | +12.7% |
| Median Age | 33.40 | 37.90 | -4.50 |
| Total Population | 39,668 | 1,772,259 | -- |
| Avg Household Size | 2.72 | 2.50 | +0.22 |
| Owner-Occupied | 55.9% | 64.8% | -8.9% |
| Worked From Home | 10.8% | 14.1% | -3.3% |
| Mean Commute | 26.50 | 24.70 | +1.80 |
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.