View in Interactive Map
  1. Home
  2. /Browse ZIP Codes
  3. /Michigan
  4. /Chesterfield, MI - 48051

Chesterfield, MI—48051

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$316,000
3.9% YoY Growth
Household Income
$89,900
22.0% YoY Growth
Days on Market
31
22.0% Longer YoY
Home Price Forecast
1.3%
Median Rent
$1,700
7.7% YoY Growth
1-Bed Rent
$725
3.2% YoY Growth
2-Bed Rent
$1,700
5.4% YoY Growth
3-Bed Rent
$1,700
21.8% YoY Growth

Other Zip Codes in Chesterfield, MI

48047
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Chesterfield, MI

As of May '26, the median home price in Chesterfield, MI is $316,000, with a year-over-year change of 3.9%. This indicates that home prices in Chesterfield, 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 TypeMedian Home ValueYoY % Change
All Homes
$316,0003.9%
Single Family $357,0003.2%
Condos $253,0003.3%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

Browse ZIP Codes by State

All states and cities →
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • District of Columbia
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Puerto Rico
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming
  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$237,0002.6%
    3 Bed
    		$342,0003.3%
    4 Bed
    		$448,0003.2%
    5 Bed N/AN/A
    Loading chart...

    % of Housing Stock

    Studio
    1.0%
    1 Bedroom
    6.6%
    2 Bedrooms
    27.6%
    3 Bedrooms
    47.0%
    4 Bedrooms
    16.5%
    5+ Bedrooms
    1.4%

    Rental Trends — Chesterfield, MI

    As of July '25, Rentcast reports the average rent in Chesterfield, MI is $1,680, with a year-over-year rent change of 7.7%. Per bedroom, the median rent as of July '25 in Chesterfield, MI is 1-bedrooms: $822, 2-bedrooms: $1,550, 3-bedrooms: $1,760, 4-bedrooms: $3,750. The most common rental property sizes in Chesterfield, MI are 1-bedroom and 2-bedroom, accounting for 39.0% and 28.0% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$1,700$1,680
    Studio Rent N/AN/A
    1 Bed Rent $725$822
    2 Bed Rent $1,700$1,550
    3 Bed Rent $1,700$1,760
    4 Bed Rent $3,750$3,750
    Loading chart...

    % of Rental Stock

    Studio
    6.5%
    1 Bedroom
    39.0%
    2 Bedrooms
    28.0%
    3 Bedrooms
    13.3%
    4 Bedrooms
    13.2%

    Property Listings — Chesterfield, MI

    As of May '26, Realtor.com reports that the median days on market for a home in Chesterfield, MI is 31. This is a increase of 22.0% 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 12.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$377,0005.0%
    Listing Count
    		6842.0%
    Listings as % of Homes0.7%42.0%
    Days on Market
    		3122.0%
    Loading chart...

    Demographics — Chesterfield, MI

    As of the latest ACS Survey released in 2023, Chesterfield, MI has a population of 17,700, which has decreased by -4.4% over the past 5 years. Chesterfield, MI is a moderately popular place for families, as children make up 23.9% of the population. The area has a poorly educated workforce, with 24.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.9% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		17,700-4.4%
    % Under 18
    		23.9%-0.8%
    % Seniors
    		12.8%37.6%
    % WFH
    		12.9%545.0%
    % w/ College Degree
    		24.2%28.0%
    Loading chart...

    As of the latest ACS Survey released in 2023, Chesterfield, MI is a predominantly white area, with 79.4% of the population identifying as white. The white population has shrunk by 5.8% in the last 5 years. The second most common race or ethnicity in Chesterfield, MI is black, making up 8.3% of the population. Foreign-born residents account for 3.5% of the population in Chesterfield, MI, and this percentage has decreased by 5.4% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		79.4%-5.8%
    % Black
    		8.3%-16.2%
    % Hispanic
    		5.0%35.1%
    % Asian
    		0.4%-20.0%
    % Foreign Born
    		3.5%-5.4%
    Loading chart...

    Mortgage and Risk — Chesterfield, MI

    According to HUD data as of 2023, there were 393 mortgage originations in Chesterfield, MI, of which 83.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 27.0% above 90% LTV (very high). This implies large mortgage risk in Chesterfield, MI. Investor activity is low, as 0.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		393
    % Conventional Loans
    		83.0%
    % Government Loans
    		17.0%
    % Investor Loans
    		0.0%
    % Second Loans
    		0.0%
    % Cash Out Refinance
    		15.0%
    Loading chart...
    Loading chart...

    Rentals and Section 8 — Chesterfield, MI

    As of 2024, the percent of homes in Chesterfield, MI under the Section 8 program is 4.9%. 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 units appear to be good home sizes to consider for Section 8 housing in Chesterfield, MI, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.

    Section 8 Market Size

    Total Units under HUD
    		52
    Total Units Section 8
    		52
    % Rentals under Section 8
    		4.9%
    % Occupied Section 8
    		88.0%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$315$725$1,040
    2 Bedroom-$380$1,700$1,320
    3 Bedroom-$80$1,700$1,620
    4 Bedroom-$2,000$3,750$1,750

    Affordability — Chesterfield, MI

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio3.1
    Median Home Price$316,000
    Median Household Income$89,900

    Chesterfield, MI — ZIP Code Boundary Map

    Loading map...

    Nearby ZIP Codes

    Chesterfield, MI

    48047

    New Haven, MI

    48048

    Macomb, MI

    48042

    New Haven, MI

    48050

    Harrison Township, MI

    48045

    Frequently Asked Questions