Market Snapshot
- Median listing price
- $85K
- Median rent
- $1,200/mo
- Days on market
- 255 days
- Gross rental yield
- 16.94%
- STR vs LTR
- $1,518/mo STR · $1,200/mo LTR
The median listing price in Detroit, MI ZIP 48228 is $85,000 as of June 2026.
The median market rent in Detroit, MI ZIP 48228 is $1,200/month as of June 2026.
The median days on market in Detroit, MI ZIP 48228 is 255 days as of June 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 June 2026.
In Detroit, MI ZIP 48228, median Airbnb revenue is $1,518/month compared to median long-term rent of $1,200/month as of June 2026.
Detroit, MI 48228 Real Estate Market Report
ZIP Code: 48228
Report Date: June 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 in the Detroit 48228 area average approximately 6.7%, reflecting a stable market environment for property owners compared to earlier 2026 benchmarks.
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 signal is the $87,500 median sold price, which indicates recent transaction value and supports a narrative of modest price appreciation consistent with the reported up price year-over-year trend.
- Relative pricing context shows a $85,000 median listing price alongside the $87,500 median sold price, which may indicate limited seller concessions or listings trading at a slight premium to asking prices and suggests modest pricing friction rather than broad discounting.
- Liquidity appears slower based on the 255 median days on market, which signals extended time-to-sale and suggests moderate transaction velocity and more negotiation latitude for buyers despite the median sold price holding firm.
- Market fundamentals show a $84.31 median price per square foot and a $1,200 median market rent with rent trends flat, while interest rate pressure is elevated (local 30‑year fixed rates ~6.7%), indicating financing costs are a headwind that may constrain buyer pool and keep the market temperature broadly neutral.
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.
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 at market average
Sold at market average
Sold at 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, 6.53% rate, 1.5% tax
Avg nightly rate and occupancy for this ZIP
Data Sources
Real estate market data & public records, and GemHaus® proprietary models.
Report generated: 6/1/2026
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