dynamic.RE
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A tight-supply, appreciation-lean market. The rent math runs thin; demand and tenant incomes are the story.
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, −1.1% YoY, is the number to watch.
The median listing price is up 2.0% YoY while the median home got down 12.3% bigger, so value per square foot is up 4.6%.
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 $326K purchase rents for $1,179/mo: 0.36% 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), 7 BR (rent only, no matching sale price), 8 BR (sale only, no matching rent).
Sales here take about 28 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), Manufactured (sold here, not rented).
U.S. Census ACS characteristics for ZIP 48823 itself, not its parent county.
Renters hold 57.8% of this ZIP's 21,293 occupied households, on a median household income of $52K.
| Measure | ZIP 48823 | Ingham County | Difference |
|---|---|---|---|
| Median Household Income | $52K | $66K | -$14K |
| Below Poverty Level | 32.2% | 16.7% | +15.5% |
| Median Age | 24.10 | 33.30 | -9.20 |
| Total Population | 50,034 | 283,913 | -- |
| Avg Household Size | 2.24 | 2.27 | -0.03 |
| Owner-Occupied | 42.2% | 59.5% | -17.3% |
| Worked From Home | 21.4% | 17.3% | +4.1% |
| Mean Commute | 18.70 | 20.50 | -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 up 0.7% to 283,913: residents under 18 are up 0.2% and those 65 and over are up 2.7%.
County median household income is $66K, 16.7% of residents are below the poverty level, 17.3% work from home.