Market Snapshot
- Median listing price
- $75K
- Median rent
- $1,200/mo
- Days on market
- 292 days
- Gross rental yield
- 19.20%
- STR vs LTR
- $1,585/mo STR · $1,200/mo LTR
The median listing price in Detroit, MI ZIP 48234 is $75,000 as of June 2026.
The median market rent in Detroit, MI ZIP 48234 is $1,200/month as of June 2026.
The median days on market in Detroit, MI ZIP 48234 is 292 days as of June 2026. The market is currently neutral.
At a median list price of $75,000 and a median rent of $1,200/month, the gross rental yield in Detroit, MI ZIP 48234 is 19.20% as of June 2026.
In Detroit, MI ZIP 48234, median Airbnb revenue is $1,585/month compared to median long-term rent of $1,200/month as of June 2026.
Detroit, MI 48234 Real Estate Market Report
ZIP Code: 48234
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 48234 area average approximately 6.65%, reflecting the broader market environment for property owners in this region.
Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.
Key Findings
- The primary market indicator is the median sold price 76,000, which signals the representative recent sale level for SFR and condo transactions in this ZIP code and should be the focus for valuation and underwriting decisions (neutral market temperature).
- There is a modest gap between the median listing price 75,000 and the median sold price 76,000, which may indicate relatively accurate seller expectations but also suggests pricing friction that buyers and appraisers should monitor given the long selling timelines.
- Transaction velocity appears slow given the median days on market 292, which should be interpreted as slower sales velocity rather than definitive weak demand; sellers may need price concessions or targeted marketing to accelerate closings (balanced market).
- Market fundamentals show supportive rental demand with a median market rent 1,200 and rent trends up, while interest rate pressure remains elevated (local 30-year rates around 6.65%), creating a mixed environment where investors should stress-test financing assumptions and owner-occupant buyers should account for affordability headwinds.
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 at market average
Sold above market average
Sold above market average
Representative market sale establishing baseline for properties in the core neighborhood.
Sold below market average
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, 6.53% rate, 1.3% 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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