The story of this market
The typical home in ZIP 48109 sells for about $474,842, or $273 per square foot.
Prices are roughly flat from a year ago (-0.033%), a market in balance. Homes take about 41 days to sell. HUD's fair market rent for a two-bedroom is $1,950 a month.
This ZIP has no home sales of its own, so its market figures come from Ann Arbor, Michigan (city-level). Population, rents, hazards, lending and amenities are this ZIP's own readings.
ZIP 48109 — Ann Arbor
ZIP 48109 is a unique census tabulation area that functions almost exclusively as the University of Michigan campus. Market metrics such as median home price, sales count, and inventory are null because the area consists of institutional housing rather than a traditional residential real estate market. The population is overwhelmingly young and transient, with high poverty rates typical of a student-only demographic.
This ZIP is primarily for university students and faculty, as the housing stock is almost entirely institutional or rental-based rather than traditional family residential.
Median prices moved down 0.0% year over year.
Homes spend a median of 41 days on market with 2.4 months of supply — a fast-moving market.
34% of listings have cut prices · homes sell at 99.4% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 13.4% · poverty 97.7% — elevated distress and economic pressure.
ZCTA 48109, Washtenaw County MI
The area is dominated by the University of Michigan campus, with school quality metrics primarily reflecting the university environment rather than traditional K-12 residential schooling.
The area is almost entirely defined by the University of Michigan, which serves as the primary employer and driver of economic and infrastructure development.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Michigan) — Disabled Veterans Homestead Exemption: Provides an exemption from property taxes levied for school operating purposes and potentially other local taxes depending on eligibility. State (Michigan) — General Property Tax Act: Property is assessed at 50% of true cash value (State Equalized Value). Taxable value is capped at the lesser of the state equalized value or the previous year's taxable value adjusted by the consumer price index (up to 5%), unless a transfer of ownership occurs.
The area is highly walkable and transit-oriented due to its location within the University of Michigan campus, with a very short mean travel time to work.
The area features extensive university-related amenities, including museums, sports complexes, and campus green spaces, serving the student and faculty population.
The rental market is almost exclusively driven by university student housing, characterized by high density and high demand for multi-bedroom units.
The economy is entirely centered on the University of Michigan, which provides the vast majority of employment and economic activity in this ZIP code.
The area is served by university transit systems and is highly integrated into the Ann Arbor public transit network.
Development is largely restricted to university-led infrastructure and campus expansion projects.
The area is heavily influenced by university-specific districts and municipal services provided by the City of Ann Arbor.
Data retrieved from Census Reporter and Data Commons for ZCTA 48109.
- Michigan Stadium4.84.9 mi
- Vibe Credit Union Showplace4.315.3 mi
- Cantoro's Italian Market - Plymouth4.713.5 mi
- Crisler Center4.84.8 mi
- Fox Hills Golf & Banquet Center4.65.6 mi
- Cinemark Ann Arbor 20 and IMAX4.45.4 mi
- Emagine Canton4.612.3 mi
- Ann Arbor Hands-On Museum4.74.3 mi
- Matthaei Botanical Gardens4.80.4 mi
- Maybury State Park4.811.1 mi
- Ann Arbor Hands-On Museum4.74.3 mi
- University of Michigan Museum of Natural History4.73.8 mi
- University of Michigan Museum of Art4.84.2 mi
- Sri Venkateswara Temple & Cultural Center4.815 mi
- Eloise Asylum4.416.7 mi
- Matthaei Botanical Gardens4.80.4 mi
- Maybury State Park4.811.1 mi
- Gallup Park4.72.5 mi
- University of Michigan Nichols Arboretum4.83.4 mi
- Heritage Park4.69 mi
- Sandy's Marina4.413.1 mi
- Mac's Marina Inc4.59.7 mi
- Wonderland Marine West4.214.5 mi
- Fox Hills Golf & Banquet Center4.65.6 mi
- Tanglewood Golf Course4.411.3 mi
- Moose Ridge Golf Course4.311.6 mi
- Links of Novi4.212.6 mi
- University of Michigan Golf Course4.64.8 mi
- Briarwood Mall4.26 mi
- Meijer4.26.7 mi
- Meijer4.15 mi
- Meijer4.18.9 mi
- Meijer4.29.5 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
The primary anchor institution and driver of all local activity.
Major landmark stadium serving the university and regional sports fans.