Detroit - 48234

As of October of 2024, Homes in 48234 ZIP Code have appreciated by 12.36%, with the median home value standing at $53,892, according to Zillow.

There are currently 18 active short-term rentals in 48234 ZIP Code. The average daily rate for these rentals is $135. This translates to an annual revenue of $15,771 for short-term rentals as of October of 2024.

48234 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 48234 ZIP Code is 29.05%. However, potential investors should also consider the average property tax, which stands at 1.90% according to SmartAsset.

The median household income in 48234 is $58,231.

As of October of 2024, the occupancy rate for Airbnb rentals in 48234 is 41.5%, which is lower than the average occupancy rate for the United States.

As of October of 2024 The unemployment rate in 48234 ZIP Code is 5.1%, which is higher than the national average of 4.1%.

The most impactful amenities for short-term rentals in 48234 include a Building staff, Pocket wifi, and Breakfast.

48234 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 48234 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 48234 ZIP Code are 2-bedroom units, with an average daily rate of $135 and an annual revenue of $20,316.

The average booking lead time for short-term rentals in 48234 ZIP Code is 44 days.