Market Snapshot
- Median listing price
- $90K
- Median rent
- $1,049/mo
- Days on market
- 292 days
- Gross rental yield
- 13.99%
- STR vs LTR
- $822/mo STR · $1,049/mo LTR
The median listing price in Detroit, MI ZIP 48238 is $90,000 as of June 2026.
The median market rent in Detroit, MI ZIP 48238 is $1,049/month as of June 2026.
The median days on market in Detroit, MI ZIP 48238 is 292 days as of June 2026. The market is currently neutral.
At a median list price of $90,000 and a median rent of $1,049/month, the gross rental yield in Detroit, MI ZIP 48238 is 13.99% as of June 2026.
In Detroit, MI ZIP 48238, median Airbnb revenue is $822/month compared to median long-term rent of $1,049/month as of June 2026.
Detroit, MI 48238 Real Estate Market Report
ZIP Code: 48238
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
Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.
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.
Key Findings
- The primary market indicator is the median sold price 75,000, which represents realized transaction value and should be prioritized over asking prices when assessing neighborhood value; use sold prices for valuation.
- There is a material pricing divergence: the median listing price 90,000 sits above recent transaction levels (median sold price 75,000), which may indicate seller expectations exceeding market-clearing prices and pricing friction in negotiations.
- Liquidity appears slow: the median days on market 292 suggests protracted time-to-contract and slower sales velocity; combined with elevated inventory relative to sales activity, this may pressure sellers to accept concessions or price adjustments — longer time on market.
- Broader trend context is mixed: the price year-over-year trend: up and rent year-over-year trend: up point to underlying demand and appreciation momentum, while market temperature: neutral indicates a balanced buyer-seller dynamic; however, interest rate pressure: elevated could constrain affordability and temper near-term transaction growth — 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 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, 6.50% rate, 1.2% 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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