The housing market in 48034 Southfield, MI is slightly below the national average. The median value of a house in this area is currently $234,000, which is approximately 30% lower than the US median value of $338,100. Furthermore, the one-year appreciation rate for houses in Southfield is 7.58%, which is 0.69% lower than the national average of 8.27%. Despite the comparatively low values and slower appreciation rates, Southfield presents an opportunity for those looking to purchase a home at a good price with potential for growth in equity.
The median home cost in Southfield (zip 48034) is $234,000. Home appreciation the last 10 years has been 116.4%. Home Appreciation in Southfield (zip 48034) is up 10.8%.
Average Age of Homes
- The median age of Southfield (zip 48034) real estate is 43 years old
The Rental Market in Southfield (zip 48034)
- Renters make up 64.9% of the Southfield (zip 48034) population
- 3.9% of houses and apartments in Southfield (zip 48034), are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.