Redford, MI—48240
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 $154,000, with a year-over-year change of 1.5%. This indicates that home prices in Redford, MI are increasing. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $154,000 | 1.5% |
| Single Family | $154,000 | 1.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $121,000 | 1.7% |
3 Bed | $162,000 | 1.2% |
4 Bed | $183,000 | 1.7% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Redford, MI
As of July '25, Rentcast reports the average rent in Redford, MI is $1,500, with a year-over-year rent change of 1.4%. Per bedroom, the median rent as of July '25 in Redford, MI is 2-bedrooms: $1,320, 3-bedrooms: $1,600, 4-bedrooms: $1,600. The most common rental property sizes in Redford, MI are 3-bedroom and 2-bedroom, accounting for 56.8% and 33.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,500 | $1,500 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,300 | $1,320 |
| 3 Bed Rent | $1,500 | $1,600 |
| 4 Bed Rent | $1,600 | $1,600 |
% 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 34. This is a increase of 15.0% 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 33.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $174,000 | 0.0% |
Listing Count | 78 | 0.0% |
| Listings as % of Homes | 0.6% | 0.0% |
Days on Market | 34 | 15.0% |
Demographics — Redford, MI
As of the latest ACS Survey released in 2023, Redford, MI has a population of 17,100, which has decreased by -1.7% over the past 5 years. Redford, MI is a moderately popular place for families, as children make up 21.2% of the population. The area has a poorly educated workforce, with 22.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 17,100 | -1.7% |
% Under 18 | 21.2% | -3.6% |
% Seniors | 12.9% | 7.5% |
% WFH | 8.4% | 250.0% |
% w/ College Degree | 22.2% | 29.8% |
As of the latest ACS Survey released in 2023, Redford, MI is a predominantly white area, with 44.8% of the population identifying as white. The white population has shrunk by 16.6% in the last 5 years. The second most common race or ethnicity in Redford, MI is black, making up 39.8% of the population. Foreign-born residents account for 4.0% of the population in Redford, MI, and this percentage has decreased by 11.1% 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 | 44.8% | -16.6% |
% Black | 39.8% | 2.6% |
% Hispanic | 6.1% | 96.8% |
% Asian | 0.8% | -20.0% |
% Foreign Born | 4.0% | -11.1% |
Mortgage and Risk — Redford, MI
According to HUD data as of 2023, there were 375 mortgage originations in Redford, MI, of which 68.0% of loans were conventional mortgages. The average loan-to-value was 76.0%, with 51.0% above 90% LTV (very high). This implies large mortgage risk in Redford, MI. Investor activity is low, as 4.0% of loans were by investors. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 375 |
% Conventional Loans | 68.0% |
% Government Loans | 32.0% |
% Investor Loans | 4.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 16.0% |
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 | 161 |
Total Units Section 8 | 161 |
% Rentals under Section 8 | 8.8% |
% Occupied Section 8 | 85.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,260 |
| 2 Bedroom | $290 | $1,300 | $1,590 |
| 3 Bedroom | $450 | $1,500 | $1,950 |
| 4 Bedroom | $510 | $1,600 | $2,110 |
Affordability — Redford, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.4 |
| Median Home Price | $154,000 |
| Median Household Income | $58,000 |