LatestCoverageAll 50 states, D.C. and five territories now on the ledger|NewPuerto Rico's 78 municipios ledgered, municipio by municipio|FeatureAssessment appeal workspace — build a filing package from your own evidence|FeatureLiving reports — versioned, re-runnable, exportable|DevelopersMetered REST gateway · issued keys · signed webhooks|Live market readings · refreshed on loadAlbuquerque · NMMedian List$360K+2.5%|Austin · TXMedian List$550K-1.0%|Baltimore · MDMedian List$225K-6.3%|Bernalillo County · NMMedian List$364K+2.7%|Bexar County · TXMedian List$303K+3.7%|Boston · MAMedian List$859K+3.4%|Charlotte · NCMedian List$430K-0.1%|Chicago · ILMedian List$426K+9.3%|Clark County · NVMedian List$447K+0.1%|Columbus · OHMedian List$300K+0.6%|Cook County · ILMedian List$348K+5.1%|Dallas · TXMedian List$449K-0.1%|Davidson County · TNMedian List$465K-1.1%|Denver · COMedian List$569K+1.6%|Detroit · MIMedian List$105K-2.8%|Duval County · FLMedian List$297K-2.3%|El Paso · TXMedian List$260K+3.7%|Fort Worth · TXMedian List$332K-2.1%|Franklin County · OHMedian List$320K+3.2%|Fresno · CAMedian List$375K+2.1%|Harris County · TXMedian List$327K+0.6%|Houston · TXMedian List$340K+0.6%|Indianapolis · INMedian List$260K+2.3%|Jackson County · MOMedian List$275K+7.0%|Jacksonville · FLMedian List$309K-2.1%|Jefferson County · KYMedian List$248K-4.3%|Kansas City · MOMedian List$240K+4.3%|King County · WAMedian List$850K-4.0%|Las Vegas · NVMedian List$440K-1.1%|Los Angeles · CAMedian List$950K-0.5%|Louisville · KYMedian List$275K0.0%|Maricopa County · AZMedian List$458K-0.4%|Marion County · INMedian List$259K+3.7%|Mecklenburg County · NCMedian List$407K-5.3%|Memphis · TNMedian List$202K+2.5%|Mesa · AZMedian List$450K-3.1%|Milwaukee · WIMedian List$243K+5.7%|Multnomah County · ORMedian List$518K-1.2%|Nashville · TNMedian List$480K+1.0%|New York · NYMedian List$899K+0.5%|Oklahoma City · OKMedian List$275K-0.6%|Oklahoma County · OKMedian List$259K-0.7%|Philadelphia · PAMedian List$249K+0.3%|Phoenix · AZMedian List$480K0.0%|Pima County · AZMedian List$373K+0.9%|Portland · ORMedian List$640K-6.0%|Sacramento · CAMedian List$510K+4.0%|San Antonio · TXMedian List$236K-1.2%|San Diego · CAMedian List$994K+4.2%|San Francisco · CAMedian List$1.4M+1.7%|San Jose · CAMedian List$1.3M-11.9%|Santa Clara County · CAMedian List$1.3M+0.1%|Seattle · WAMedian List$874K-2.8%|Shelby County · TNMedian List$259K-2.4%|Suffolk County · MAMedian List$857K+7.3%|Tarrant County · TXMedian List$385K-1.2%|Travis County · TXMedian List$497K-5.3%|Tucson · AZMedian List$324K-0.9%|Wayne County · MIMedian List$160K0.0%|LatestCoverageAll 50 states, D.C. and five territories now on the ledger|NewPuerto Rico's 78 municipios ledgered, municipio by municipio|FeatureAssessment appeal workspace — build a filing package from your own evidence|FeatureLiving reports — versioned, re-runnable, exportable|DevelopersMetered REST gateway · issued keys · signed webhooks|Live market readings · refreshed on loadAlbuquerque · NMMedian List$360K+2.5%|Austin · TXMedian List$550K-1.0%|Baltimore · MDMedian List$225K-6.3%|Bernalillo County · NMMedian List$364K+2.7%|Bexar County · TXMedian List$303K+3.7%|Boston · MAMedian List$859K+3.4%|Charlotte · NCMedian List$430K-0.1%|Chicago · ILMedian List$426K+9.3%|Clark County · NVMedian List$447K+0.1%|Columbus · OHMedian List$300K+0.6%|Cook County · ILMedian List$348K+5.1%|Dallas · TXMedian List$449K-0.1%|Davidson County · TNMedian List$465K-1.1%|Denver · COMedian List$569K+1.6%|Detroit · MIMedian List$105K-2.8%|Duval County · FLMedian List$297K-2.3%|El Paso · TXMedian List$260K+3.7%|Fort Worth · TXMedian List$332K-2.1%|Franklin County · OHMedian List$320K+3.2%|Fresno · CAMedian List$375K+2.1%|Harris County · TXMedian List$327K+0.6%|Houston · TXMedian List$340K+0.6%|Indianapolis · INMedian List$260K+2.3%|Jackson County · MOMedian List$275K+7.0%|Jacksonville · FLMedian List$309K-2.1%|Jefferson County · KYMedian List$248K-4.3%|Kansas City · MOMedian List$240K+4.3%|King County · WAMedian List$850K-4.0%|Las Vegas · NVMedian List$440K-1.1%|Los Angeles · CAMedian List$950K-0.5%|Louisville · KYMedian List$275K0.0%|Maricopa County · AZMedian List$458K-0.4%|Marion County · INMedian List$259K+3.7%|Mecklenburg County · NCMedian List$407K-5.3%|Memphis · TNMedian List$202K+2.5%|Mesa · AZMedian List$450K-3.1%|Milwaukee · WIMedian List$243K+5.7%|Multnomah County · ORMedian List$518K-1.2%|Nashville · TNMedian List$480K+1.0%|New York · NYMedian List$899K+0.5%|Oklahoma City · OKMedian List$275K-0.6%|Oklahoma County · OKMedian List$259K-0.7%|Philadelphia · PAMedian List$249K+0.3%|Phoenix · AZMedian List$480K0.0%|Pima County · AZMedian List$373K+0.9%|Portland · ORMedian List$640K-6.0%|Sacramento · CAMedian List$510K+4.0%|San Antonio · TXMedian List$236K-1.2%|San Diego · CAMedian List$994K+4.2%|San Francisco · CAMedian List$1.4M+1.7%|San Jose · CAMedian List$1.3M-11.9%|Santa Clara County · CAMedian List$1.3M+0.1%|Seattle · WAMedian List$874K-2.8%|Shelby County · TNMedian List$259K-2.4%|Suffolk County · MAMedian List$857K+7.3%|Tarrant County · TXMedian List$385K-1.2%|Travis County · TXMedian List$497K-5.3%|Tucson · AZMedian List$324K-0.9%|Wayne County · MIMedian List$160K0.0%|
Property-class scope

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.

Market figures inherited

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 market report · consumer edition · quarterly refresh
Track this ZIP

ZIP 48109 — Ann Arbor

Washtenaw County →refreshed Oct 4, 20263 cycles retainednext refresh Oct 19, 2026
Market mood · neutral

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.

Who this ZIP fits

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.

Parent geography
Aerial view · ZIP boundaries2020 Census ZCTA boundary over current aerial imagery
Leaflet Imagery © Esri, Maxar, Earthstar Geographics
Land area · 3.6 km²Water area · 0.1 km²U.S. Census Bureau TIGERweb — 2020 Census ZCTA5 boundary
Median sale price
$474,842
-0.033% year over year
Corroboration pending — anchor baseline forms on the first refresh cycles
Days on market
41 days
Active listings
485
Listings with price cuts
34%
share of active listings
Sale-to-list ratio
99.4%
of asking price
ZIP Market ScoreZIP-SCORE-1.3 · 4/4 sections graded
56
Composite · average of graded sections
Computed only from this report's published readings — sections without data are excluded, never estimated.
50
Growth/100

Median prices moved down 0.0% year over year.

80
Liquidity/100

Homes spend a median of 41 days on market with 2.4 months of supply — a fast-moving market.

60
Momentum/100

34% of listings have cut prices · homes sell at 99.4% of asking — demand is running ahead of supply.

33
Safety & stability/100

no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 13.4% · poverty 97.7% — elevated distress and economic pressure.

Census trends · population flowsACS 2024 5-year estimates
Population base
5,939

ZCTA 48109, Washtenaw County MI

Area context
Schools & education

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.

Growth & development

The area is almost entirely defined by the University of Michigan, which serves as the primary employer and driver of economic and infrastructure development.

Taxation

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.

Transportation & commute

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.

Recreation & amenities

The area features extensive university-related amenities, including museums, sports complexes, and campus green spaces, serving the student and faculty population.

Rental market

The rental market is almost exclusively driven by university student housing, characterized by high density and high demand for multi-bedroom units.

Economy & employers

The economy is entirely centered on the University of Michigan, which provides the vast majority of employment and economic activity in this ZIP code.

Transportation & infrastructure

The area is served by university transit systems and is highly integrated into the Ann Arbor public transit network.

Development pipeline

Development is largely restricted to university-led infrastructure and campus expansion projects.

Special districts

The area is heavily influenced by university-specific districts and municipal services provided by the City of Ann Arbor.

Discovery profileACS 2024 5-year estimates
Census profile · ZCTA 48109, Washtenaw County MI
Population
5,939
Median age
19.1 yrs
Median household income
$14,093
Median year built
1986
Renter share
100%
Mean commute
16.4 min
Unemployment
13.4%
Poverty rate
97.7%
White
75.1%
Black
11.21%
Hispanic
5.16%
Asian
5.8%
Other
2.73%

Data retrieved from Census Reporter and Data Commons for ZCTA 48109.

School districts
Ann Arbor Public SchoolsNot determinableServes the broader Ann Arbor area; specific impact on this ZIP is minimal due to the student-only population.
Major employers & industries
University of MichiganEducation/ResearchPrimary employer
Major amenities · ZIP 48109
Entertainment venues, stadiums & amphitheaters
10 · 20 mi
Family fun & things to do
20+ · 13 mi
Parks, trails & nature
20+ · 13 mi
Lakes, marinas & beaches
3 · 20 mi
Shopping & dining districts
8 · 13 mi
Airports
1 · 31 mi

Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.

Amenities & attractions2 retained amenities
Inside this ZIP
University of Michigan
University

The primary anchor institution and driver of all local activity.

Michigan Stadium
Sports Venue

Major landmark stadium serving the university and regional sports fans.

Sources · 4 cited