Redford, MI—48239
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Redford, MI
Home Price Trends — Redford, MI
As of Oct '25, the median home price in Redford, MI is $175,000, with a year-over-year change of 2.7%. This indicates that home prices in Redford, MI are increasing. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $175,000 | 2.7% |
| Single Family | $176,000 | 2.9% |
| Condos | $100,000 | -6.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $57,000 | -10.9% |
2 Bed | $124,000 | 1.6% |
3 Bed | $182,000 | 2.2% |
4 Bed | $222,000 | 1.4% |
| 5 Bed | $236,000 | 0.9% |
% of Housing Stock
Rental Trends — Redford, MI
As of July '25, Rentcast reports the average rent in Redford, MI is $1,690, with a year-over-year rent change of 9.0%. Per bedroom, the median rent as of July '25 in Redford, MI is 2-bedrooms: $1,330, 3-bedrooms: $1,780, 4-bedrooms: $2,020. The most common rental property sizes in Redford, MI are 3-bedroom and 2-bedroom, accounting for 60.0% and 19.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,500 | $1,690 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,300 | $1,330 |
| 3 Bed Rent | $1,600 | $1,780 |
| 4 Bed Rent | $1,450 | $2,020 |
% of Rental Stock
Property Listings — Redford, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Redford, MI is 44. This is a increase of 41.0% 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.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $182,000 | 4.0% |
Listing Count | 151 | 26.0% |
| Listings as % of Homes | 0.5% | 26.0% |
Days on Market | 44 | 41.0% |
Demographics — Redford, MI
As of the latest ACS Survey released in 2023, Redford, MI has a population of 37,000, which has increased by 3.2% over the past 5 years. Redford, MI is a moderately popular place for families, as children make up 22.8% of the population. The area has a poorly educated workforce, with 22.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 37,000 | 3.2% |
% Under 18 | 22.8% | -8.4% |
% Seniors | 13.4% | 9.8% |
% WFH | 11.4% | 375.0% |
% w/ College Degree | 22.7% | 3.2% |
As of the latest ACS Survey released in 2023, Redford, MI is a predominantly black area, with 58.3% of the population identifying as black. The black population has grown by 23.0% in the last 5 years. The second most common race or ethnicity in Redford, MI is white, making up 34.3% of the population. Foreign-born residents account for 2.5% of the population in Redford, MI, and this percentage has decreased by 35.9% 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 | 34.3% | -25.8% |
% Black | 58.3% | 23.0% |
% Hispanic | 4.4% | 18.9% |
% Asian | 0.5% | 0.0% |
% Foreign Born | 2.5% | -35.9% |
Mortgage and Risk — Redford, MI
According to HUD data as of 2023, there were 802 mortgage originations in Redford, MI, of which 68.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 44.0% above 90% LTV (very high). This implies large mortgage risk in Redford, MI. Investor activity is low, as 2.0% of loans were by investors. 20.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 802 |
% Conventional Loans | 68.0% |
% Government Loans | 32.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 20.0% |
Loan Activity
Rentals and Section 8 — Redford, MI
Redford, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 415 |
Total Units Section 8 | 375 |
% Rentals under Section 8 | 12.4% |
% Occupied Section 8 | 87.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,290 |
| 2 Bedroom | $330 | $1,300 | $1,630 |
| 3 Bedroom | $400 | $1,600 | $2,000 |
| 4 Bedroom | $710 | $1,450 | $2,160 |
Affordability — Redford, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.2 |
| Median Home Price | $175,000 |
| Median Household Income | $69,400 |