48128, Dearborn, MI

Dearborn, Michigan is a city located in Wayne County. As of the 2010 census, the city had a population of 97,098. Dearborn is home to Ford Motor Company and has been for over 100 years. The city's economy is based on manufacturing and automotive production. In recent years, Dearborn's economy has diversified with growth in health care, information technology, and biotechnology industries.

The 48128 zip code covers much of Dearborn including many affluent neighborhoods such as Oakwood Village, Riverview Estates, and Westland Hills. Home prices in this zip code have increased significantly over the past few years as demand from buyers has outstripped supply. In March 2016, the median home price was $214,000 which was up from $178,000 in March 2015 and $158,000 in March 2014. The average sale price during this time period was also up significantly at $269K compared to $236K during the same period last year and $224K during 2014.

There are several factors that have contributed to this increase in home prices including low interest rates (0% for qualified buyers), strong demand from buyers due to limited inventory availability (especially within desirable neighborhoods), and limited new construction activity within the city limits due to zoning restrictions that limit building heights and sizes. Despite these factors contributing to increased prices overall there are still areas of the city where homes can be purchased for less than what they would cost outside of Dearborn (i.e., near Ford City).