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 −8.1% YoY) outrunning rents would pull rent-to-price back under 0.8%/mo and weaken the cash-flow case. inventory, +2.6% YoY, is the number to watch.
The median listing price is down 8.1% YoY while the median home got down 1.3% bigger, so value per square foot is down 10.0%.
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.
Not shown: 6 BR (no price per sq ft reported).
At the median, a $83K purchase rents for $1,200/mo: 1.45% of price per month against the 1% rule's 1.00%.
Not shown: Studio (rent only, no matching sale price), 6 BR (sale only, no matching rent).
Sales here take about 27 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), Townhouse (rented here, not sold).
U.S. Census ACS characteristics for ZIP 48228 itself, not its parent county.
Renters hold 50.7% of this ZIP's 19,284 occupied households, on a median household income of $31K.
| Measure | ZIP 48228 | Wayne County | Difference |
|---|---|---|---|
| Median Household Income | $31K | $61K | -$30K |
| Below Poverty Level | 41.8% | 20.8% | +21.0% |
| Median Age | 32.90 | 37.90 | -5.00 |
| Total Population | 50,117 | 1,772,259 | -- |
| Avg Household Size | 2.59 | 2.50 | +0.09 |
| Owner-Occupied | 49.3% | 64.8% | -15.5% |
| Worked From Home | 5.4% | 14.1% | -8.7% |
| Mean Commute | 22.20 | 24.70 | -2.50 |
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.