Market Intelligence · MI / Detroit

Detroit, MI 48216 Housing Market

A typical home in 48216 is worth $190,997, down 11.3% over the past year. The median list price sits at $248,000, with homes staying on the market for a median of 82 days.

Updated September 2026Median value$191K

The median home value in Detroit, MI 48216 is $191K as of September 2026, down 11.3% year over year, according to Zillow ZHVI. For a read on your own home, start with a free consultation: a licensed local pro will walk you through your numbers and your options, with no obligation.

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Typical 48216 range

$176K to $206K

This is an automated estimate, not an appraisal. Actual value is determined by current market conditions and professional evaluation. It is provided for informational purposes only and is not an offer to buy or a promise of value.

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12-month value trend

-11.3% over 12 months

Sep 2025$215K

Low $191KHigh $215K

Sep 2026$191K

The numbers

What is the 48216 housing market like?

As of September 2026

Typical home value

$191K

11.3%YoY

Median list price

$248K

3.7%MoM

Days on market

12.3%MoM

Homes for sale

3.7%MoM

Price cuts

28.5%

42.3%MoM

New listings

0.0%MoM

Sources · Zillow ZHVI (September 2026) / Realtor.com (September 2026) / FRED (October 2026)

The outlook

48216 housing market forecast 2027

+1.7%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 48216 to rise 1.7% by September 2027.

Over the 12 months through September 2026, typical home values in 48216 fell 11.3%, per the Zillow Home Value Index.

Will home prices drop in 48216?

Zillow's forecast does not call for a drop: it expects typical home values in 48216 to rise 1.7% by September 2027, after a 11.3% decline over the past 12 months. Forecasts are not guarantees: mortgage rates, inventory, and the wider economy can move values either way.

Forecast: Zillow Home Value Forecast, published October 2026. A forecast, not a guarantee.

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The comparison

How do 48216 home prices compare?

48216$190,997
Detroit$86,511
Michigan$241,156
United States$285,347

Median Zillow home value (ZHVI), as of September 2026. Comparison levels are medians across every ZIP code with Zillow data (Detroit: 25 ZIPs; Michigan: 891 ZIPs; United States: 26,262 ZIPs).

Context

The Detroit 48216 market shows signs of cooling demand. There are 26 homes for sale as of September 2026, with just 4 new listings during the period. The median list price of $248,000 remains well above the typical home value of $190,997, reflecting a gap between asking prices and actual market valuations. Nearly 28.5% of listings have already taken a price cut, a signal that sellers are adjusting to buyer hesitation. If you own here, expect a slower sales process and prepare for negotiation.

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Down payment20% · $38,199

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Common questions

What people ask us.

What is the typical home value in 48216?

The typical home value is $190,997, down 11.3% over the past year as of September 2026.

How long do homes stay on the market in 48216?

The median time on market is 82 days as of September 2026.

What share of homes in 48216 have had a price cut?

As of September 2026, 28.5% of listings in the area have had a price cut.

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Nearby ZIP markets.

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