The story of this market
The typical home in ZIP 48240 sells for about $175,000, or $132 per square foot.
Prices are up +1.1% from a year ago, so sellers still have some momentum. Homes take about 17 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $1,399 a month.
ZIP 48240 — Redford
The 48240 market is currently characterized as a seller's market with a median home value of approximately $203,100. Market activity is steady with a median of 17 days to pending, though specific closed sales counts and tax figures are not currently published for this ZIP code.
Median prices moved up 1.1% year over year.
Homes spend a median of 17 days on market with 0.0 months of supply — a fast-moving market.
0% of listings have cut prices · homes sell at 0% of asking — demand is holding steady.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 8.5% · poverty 12.2% — a mixed stability profile.
ZCTA 48240, Wayne County, MI
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.
Data sourced from Data Commons and Census Bureau estimates.
- Little Caesars Arena4.613.9 mi
- Comerica Park4.714.3 mi
- Ford Field4.614.4 mi
- Huntington Place4.514.6 mi
- Vibe Credit Union Showplace4.311.1 mi
- Henry Ford Museum of American Innovation4.89.1 mi
- Detroit Zoo4.58.7 mi
- Greenfield Village4.89.1 mi
- Emagine Royal Oak4.39.4 mi
- Emagine Novi4.510.3 mi
- Henry Ford Museum of American Innovation4.89.1 mi
- Detroit Institute of Arts4.813 mi
- Greenfield Village4.89.1 mi
- Michigan Central4.813.3 mi
- Motown Museum4.711.8 mi
- Maybury State Park4.811.5 mi
- Cranbrook House & Gardens4.810.4 mi
- Heritage Park4.75.4 mi
- Ford Field Park4.68.4 mi
- Red Oaks Waterpark4.412.7 mi
- Western Golf & Country Club4.62.1 mi
- Novi Putting Edge4.210.4 mi
- On The Dunes Sports4.211.3 mi
- Farmington Hills Golf Club4.27.1 mi
- Rackham Golf Course3.88 mi
- Somerset Collection4.611.2 mi
- Twelve Oaks Mall4.49.7 mi
- Fairlane Town Center4.18.5 mi
- Oakland Mall4.112.5 mi
- Detroit Metropolitan Wayne County Airport4.314.8 mi
- Windsor International Airport4.221 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Key-figure check: median price corroborated by the prior refresh cycle (within 12.5%).