Springwells, Detroit, MI—48209
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Springwells, Detroit, MI
As of Oct '25, the median home price in Springwells, Detroit, MI is $84,000, with a year-over-year change of -3.1%. This indicates that home prices in Springwells, Detroit, MI are decreasing. According to Zillow, the 1-year price projection is 0.5%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $84,000 | -3.1% |
| Single Family | $84,000 | -3.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $80,000 | 2.6% |
3 Bed | $89,000 | 2.3% |
4 Bed | $113,000 | 4.6% |
| 5 Bed | N/A | N/A |
% of Housing Stock
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.
| Type | Median Rent | Average 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 |
% of Rental Stock
Property Listings — Springwells, Detroit, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Springwells, Detroit, MI is 36. This is a decrease of -5.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 17.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $189,000 | 9.0% |
Listing Count | 23 | 34.0% |
| Listings as % of Homes | 0.1% | 34.0% |
Days on Market | 36 | -5.0% |
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.
| Metric | Latest Census | YoY % 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% |
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
| Metric | Latest Census | 5-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% |
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
| Metric | Zip 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% |
Loan Activity
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 Size | HUD Premium | Market Rent | Max 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
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 1.9 |
| Median Home Price | $84,000 |
| Median Household Income | $42,200 |