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Springwells, Detroit, MI—48209

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$96,000
0.4% YoY Growth
Household Income
$42,200
53.7% YoY Growth
Days on Market
46
44.0% Longer YoY
Home Price Forecast
0.0%
Median Rent
$1,150
4.1% YoY Growth
1-Bed Rent
$895
7.0% YoY Growth
2-Bed Rent
$1,170
4.8% YoY Growth
3-Bed Rent
$1,250
9.9% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Springwells, Detroit, MI

As of May '26, the median home price in Springwells, Detroit, MI is $96,000, with a year-over-year change of -0.4%. This indicates that home prices in Springwells, Detroit, MI are flat. According to Zillow, the 1-year price projection is 0.0%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$96,000-0.4%
Single Family $96,0000.0%
Condos N/AN/A

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$89,0006.0%
    3 Bed
    		$99,0004.2%
    4 Bed
    		$123,0000.8%
    5 Bed N/AN/A
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    % of Housing Stock

    Studio
    3.2%
    1 Bedroom
    10.2%
    2 Bedrooms
    24.3%
    3 Bedrooms
    38.1%
    4 Bedrooms
    18.3%
    5+ Bedrooms
    5.9%

    Rental Trends — Springwells, Detroit, MI

    As of July '25, Rentcast reports the average rent in Springwells, Detroit, MI is $1,160, with a year-over-year rent change of -4.1%. Per bedroom, the median rent as of July '25 in Springwells, Detroit, MI is studios: $845, 1-bedrooms: $958, 2-bedrooms: $1,300, 3-bedrooms: $1,280, 4-bedrooms: $1,250. The most common rental property sizes in Springwells, Detroit, MI are 2-bedroom and 3-bedroom, accounting for 34.2% and 25.6% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$1,150$1,160
    Studio Rent $795$845
    1 Bed Rent $895$958
    2 Bed Rent $1,170$1,300
    3 Bed Rent $1,250$1,280
    4 Bed Rent $1,250$1,250
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    % of Rental Stock

    Studio
    3.7%
    1 Bedroom
    23.0%
    2 Bedrooms
    34.2%
    3 Bedrooms
    25.6%
    4 Bedrooms
    9.6%
    5+ Bedrooms
    3.9%

    Property Listings — Springwells, Detroit, MI

    As of May '26, Realtor.com reports that the median days on market for a home in Springwells, Detroit, MI is 46. This is a increase of 44.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 30.0%, representing a large inventory and a lot of supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$178,000-8.0%
    Listing Count
    		2756.0%
    Listings as % of Homes0.1%56.0%
    Days on Market
    		4644.0%
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    Demographics — Springwells, Detroit, MI

    As of the latest ACS Survey released in 2023, Springwells, Detroit, MI has a population of 27,500, which has decreased by -15.6% over the past 5 years. Springwells, Detroit, MI is a popular place for families, as children make up 32.5% of the population. The area has a poorly educated workforce, with 9.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.3% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		27,500-15.6%
    % Under 18
    		32.5%-5.0%
    % Seniors
    		8.5%18.1%
    % WFH
    		5.3%71.0%
    % w/ College Degree
    		9.6%108.7%
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    As of the latest ACS Survey released in 2023, Springwells, Detroit, MI is a predominantly hispanic area, with 76.0% of the population identifying as hispanic. The hispanic population has grown by 9.5% in the last 5 years. The second most common race or ethnicity in Springwells, Detroit, MI is white, making up 16.9% of the population. Foreign-born residents account for 25.9% of the population in Springwells, Detroit, MI, and this percentage has decreased by 3.0% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		16.9%-14.6%
    % Black
    		6.0%-33.3%
    % Hispanic
    		76.0%9.5%
    % Asian
    		0.1%∞%
    % Foreign Born
    		25.9%-3.0%
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    Mortgage and Risk — Springwells, Detroit, MI

    According to HUD data as of 2023, there were 76 mortgage originations in Springwells, Detroit, MI, of which 84.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 28.0% above 90% LTV (very high). This implies large mortgage risk in Springwells, Detroit, MI. Investor activity is low, as 1.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		76
    % Conventional Loans
    		84.0%
    % Government Loans
    		16.0%
    % Investor Loans
    		1.0%
    % Second Loans
    		0.0%
    % Cash Out Refinance
    		11.0%
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    Rentals and Section 8 — Springwells, Detroit, MI

    As of 2024, the percent of homes in Springwells, Detroit, MI under the Section 8 program is 9.3%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 3-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Springwells, Detroit, MI, because HUD payments exceed market rent, while 2-bedroom units do not.

    Section 8 Market Size

    Total Units under HUD
    		375
    Total Units Section 8
    		374
    % Rentals under Section 8
    		9.3%
    % Occupied Section 8
    		91.2%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$25$895$920
    2 Bedroom$0$1,170$1,170
    3 Bedroom$190$1,250$1,440
    4 Bedroom$300$1,250$1,550

    Affordability — Springwells, Detroit, MI

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio2.1
    Median Home Price$96,000
    Median Household Income$42,200

    Springwells, Detroit, MI — ZIP Code Boundary Map

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    Nearby ZIP Codes

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    Frequently Asked Questions