48219, Detroit, MI

Detroit, Michigan is a city that has been struggling for many years. The population has decreased by over 50% since its peak in the 1950s, and the city has been in a state of decline ever since. However, there are some areas of Detroit that have fared better than others. One such area is the 48219 zip code, which includes much of downtown Detroit and many of its historic buildings.

The 48219 zip code is home to some of the most expensive real estate in Detroit. In fact, according to Zillow, the median home value in this zip code is $183,500 – more than double the median home value for all of Michigan! This high level of home equity is likely due to the concentration of expensive properties within this one area, as well as the strong economy and job market in Detroit overall.

However, despite these high levels of home equity and home prices, it's important to keep in mind that not everyone living in or around Detroit can afford these prices. In fact, according to data from Trulia , only about one-third (34%)of households earning less than $30K per year can afford a house worth more than $100K – which is significantly lower than the national average (45%). Additionally, while homeownership rates are high within this zip code (68%), there are also a large number of renters (29%) – indicating that not everyone who lives here can call themselves "homeowners."