Market Snapshot
- Median listing price
- $85K
- Median rent
- $1,200/mo
- Days on market
- 247 days
- Gross rental yield
- 16.94%
The median listing price in Detroit, MI ZIP 48228 is $85,000 as of July 2026.
The median market rent in Detroit, MI ZIP 48228 is $1,200/month as of July 2026.
The median days on market in Detroit, MI ZIP 48228 is 247 days as of July 2026. The market is currently neutral.
At a median list price of $85,000 and a median rent of $1,200/month, the gross rental yield in Detroit, MI ZIP 48228 is 16.94% as of July 2026.
Detroit, MI 48228 Real Estate Market Report
ZIP Code: 48228
Report Date: July 2026
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.
Market Overview
This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Market Metrics
The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Rental Market
Property Taxes
Liquidity & Velocity
Market Trends & Context
Understanding Market Temperature
A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.
Current Mortgage Rate Context
Market-level mortgage rate comparison for this area:
Current 30-year fixed mortgage rates for properties in Detroit 48228 are averaging 6.5%, which is 0.5% higher than the 6.0% rates observed earlier in 2026.
Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.
Key Findings
- The neighborhood's primary market-value indicator is the median sold price; $83,000 represents recent transaction levels and should be treated as the best reflection of realized market value and closing activity in the area (representative recent sale).
- Listing context shows a median listing price of $85,000 that sits above the median sold price, which may indicate some pricing friction between seller expectations and completed transactions (stable pricing gap).
- Market velocity is slow: the median days on market of 247 points to extended marketing times and suggests slower sales velocity, so sellers may need longer time or concession strategies to close deals.
- Broader market signals are mixed: the market temperature is neutral with price year-over-year trend up and rent year-over-year trend up, while interest rate pressure is elevated; given a median market rent of $1,200 and median price per square foot of 81.48, prioritize pricing that balances modest appreciation expectations against higher financing costs (elevated interest rate pressure).
Notable Properties
The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold above market average
Sold above market average
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Sold below market average
Sold below market average
Investment Analysis
Compare rental income potential against ownership costs and benchmark against market averages.
Monthly rental income vs estimated ownership cost
20% down, 6.49% rate, 1.6% tax
Avg nightly rate and occupancy for this ZIP
Data Sources
Real estate market data & public records, and GemHaus® proprietary models.
Report generated: 7/10/2026
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