Detroit - 48205

As of October of 2024, Homes in 48205 ZIP Code have appreciated by 16.73%, with the median home value standing at $53,774, according to Zillow.

There are currently 14 active short-term rentals in 48205 ZIP Code. The average daily rate for these rentals is $157. This translates to an annual revenue of $16,631 for short-term rentals as of October of 2024.

48205 ZIP Code is an investor-friendly location with short-term rental regulations favorable to those looking to invest in short-term rentals.

As of October of 2024, the average gross yield for short-term rentals in 48205 ZIP Code is 30.73%. However, potential investors should also consider the average property tax, which stands at 1.90% according to SmartAsset.

The median household income in 48205 is $58,231.

As of October of 2024, the occupancy rate for Airbnb rentals in 48205 is 35.5%, which is lower than the average occupancy rate for the United States.

As of October of 2024 The unemployment rate in 48205 ZIP Code is 5.1%, which is higher than the national average of 4.1%.

The most impactful amenities for short-term rentals in 48205 include a Building staff, Pocket wifi, and Breakfast.

48205 ZIP Code is a popular destination for travelers, with Airbnb demand coming from cities like Chicago, IL (4.18% of all guests), Detroit, MI (4.10% of all guests), and New York, NY (2.57% of all guests).

The top short-term rental hosts in 48205 ZIP Code include RoomPicks, StayArbor and Stay. These hosts have an average rating of 4.53, 4.82 and 4.90 respectively.

The most popular property types in 48205 ZIP Code are 2-bedroom units, with an average daily rate of $157 and an annual revenue of $0.

The average booking lead time for short-term rentals in 48205 ZIP Code is 44 days.