The story of this market
The typical home in ZIP 48867 sells for about $172,949, or $115 per square foot.
Prices are up +8.1% from a year ago, so sellers still have some momentum. Homes take about 38 days to sell. HUD's fair market rent for a two-bedroom is $828 a month.
ZIP 48867 — Owosso
The housing market in 48867 remains stable with modest year-over-year price growth of 8.1%. Inventory remains tight, which continues to support home values despite broader economic headwinds. Figures for months of supply and specific tax history are based on available local data points.
This ZIP is well-suited for families and first-time homebuyers seeking affordable housing options compared to larger Michigan metros, as well as commuters working in the surrounding regional hubs.
Median prices moved up 8.1% year over year.
Homes spend a median of 38 days on market with 3.2 months of supply — a fast-moving market.
18% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.6% · poverty 14.7% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 6.5%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 4.3%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 48867, Shiawassee County MI
Crime rates in Owosso are generally consistent with regional averages for small Michigan cities, with property crime being the most frequently reported category.
Schools serving the area are primarily part of the Owosso Public Schools district, which maintains a standard curriculum and moderate performance ratings.
The area faces standard Midwestern climate risks, including seasonal severe thunderstorms and winter weather, with flood risks primarily localized to areas near the Shiawassee River.
Economic momentum is driven by local manufacturing, healthcare, and retail sectors, with ongoing efforts to revitalize the downtown corridor and attract small business investment.
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.
Residents primarily commute by car, with access to M-52 and M-21 providing connections to the larger Lansing and Flint employment hubs.
The area features several local parks, including Curwood Castle Park and various trail systems along the Shiawassee River, alongside community-focused shopping and dining in downtown Owosso.
The rental market is characterized by steady demand for 2-bedroom units, with low vacancy rates and a limited supply of modern multi-family housing.
The local economy is anchored by manufacturing, healthcare services, and education, with a significant portion of the workforce commuting to nearby industrial centers.
Transportation is heavily reliant on private vehicles, with major highway access via M-21 and M-52; public transit options are limited.
Development is focused on small-scale residential infill and the continued maintenance of existing infrastructure.
The Shiawassee County Equalization Department oversees property assessments, ensuring compliance with state tax laws.
Parcels are subject to local school district taxes, county-wide millages, and city-specific utility assessments.
Property insurance premiums are generally stable, though coverage for wind and storm damage is a standard consideration for homeowners.
Data retrieved from US Census Bureau ZCTA 48867 profiles.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- Owosso Speedway4.45.1 mi
- Peacock Road Family Farm4.714 mi
- Shiawassee County Ag Society - DBA: Shiawassee County Fair4.56.2 mi
- Saginaw County Fairgrounds4.512.1 mi
- Michigan Wildlife Conservancy-Bengel Wildlife4.518.3 mi
- Sleepy Hollow State Park4.611.8 mi
- Steam Railroading Institute4.52.1 mi
- McCurdy Park4.64.6 mi
- Owosso Curwood Castle4.61.7 mi
- NCG Cinema - Owosso4.42.2 mi
- Steam Railroading Institute4.52.1 mi
- Owosso Curwood Castle4.61.7 mi
- Durand Union Station Inc4.813.3 mi
- Mid Michigan Old Gas Tractor Assc Showgrounds4.810.5 mi
- McCurdy Park4.64.6 mi
- Showboat Park4.512.6 mi
- DeVries Nature Conservancy4.82.3 mi
- Curwood Castle Park4.71.8 mi
- Shiatown Park4.58.7 mi
- Pine Hills Golf Course410.4 mi
- Owosso Country Club4.34 mi
- Meijer4.34.6 mi
- Dollar General41.7 mi
- Frank's Supermarket4.412.8 mi
- Dollar General4.112 mi
- Owosso Farmers Market4.61.8 mi
- Bishop International Airport4.523.5 mi
- Capital Region International Airport4.325.4 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Historic landmark and park along the Shiawassee River.
Local cultural hub featuring regional artists.
Community park with recreational facilities.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.