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ZIP Code · MI

ZIP 48124

Part of Dearborn, MI
Pop. 34,479·Wayne County·50th most expensive ZIP in Michigan
Median rent (all units)
$1,702/mo
Year-over-Year
-2.6%
Month-over-Month
-3.1%
vs US Median
-$263
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 48124 · $1,702
More affordable than 59% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,110
1 BR
$1,230
2 BR
$1,550
3 BR
$1,890
4 BR+
$2,050
Research median
$1,550/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$20,424/yr
At $1,702/mo median
Location
StateMI
CountyWayne County
Rent Market Meter
Strong Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are down 2.6% year-over-year. Push hard on price, concessions, and lease terms.
Based on rent-price momentum (-2.6% YoY, -3.1% MoM), not inventory.
Demographics

Who lives here

ZIP 48124 (Dearborn, MI) is majority owner-occupied, 40.2% of residents hold a bachelor's degree or higher.

Population
34,479
Median income
$81,796
Median age
38.6
Renters
18.1%
Age distribution
23.4%
21.7%
24.8%
13.8%
16.4%
Under 1823.4%
18–3421.7%
35–5424.8%
55–6413.8%
65+16.4%
Gender
49.5%
50.5%
Male49.5%
Female50.5%
Race & ethnicity
84.3%
White84.3%
Black6%
Hispanic5.4%
Asian1%
Other3.3%
Education (25+)
21.5%
31.8%
40.2%
No HS diploma6.6%
HS diploma21.5%
Some college31.8%
Bachelor's+40.2%
Housing tenure
81.9%
18.1%
Owner81.9%
Renter18.1%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 48124 in Dearborn, MI has changed in 5 years

Income
$75,504 → $81,796
up 8.3%
Population
33,054 → 34,479
up 4.3%
Renter share
20.5% → 18.1%
-2.4 pts
Bachelor's+
38.9% → 40.2%
+1.3 pts
Median age
39.8 → 38.6
-1.2 yrs

Household income in the area moved from $75,504 to $81,796 across the same window, up 8.3% versus 2021. The population has grown by 4.3% since 2021, moving from about 33,054 residents to roughly 34,479. Renters now make up 18.1% of households, compared with 20.5% five years ago.

Community

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Local insights

Tips for renters in ZIP 48124

About renting in ZIP 48124

Last updated: July 20, 2026

ZIP code 48124 covers Dearborn, MI. The median rent here is $1,702/mo as of July 2026. A 1-bedroom rents for a median of $1,230/mo. A 2-bedroom rents for a median of $1,550/mo.

At 25% of local median household income ($81,796/yr), ZIP 48124 ranks as affordable compared to the national benchmark of 30%. Rents have decreased 2.6% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 48124?

As of July 20, 2026, the median monthly rent in ZIP 48124 (Dearborn, MI) is $1,702. This is based on aggregated data from public sources and community submissions.

How does ZIP 48124 rent compare to the US average?

ZIP 48124's median rent of $1,702/mo is $263 (13%) below the US national median of $1,965/mo.

How does ZIP 48124 compare to other ZIPs in Michigan?

ZIP 48124 is one of the pricier ZIP codes in Michigan, ranking #50 out of 165 ZIPs tracked at $1,702/mo.

How much income do you need to rent in ZIP 48124?

To keep rent at or below 30% of gross income, you would need to earn at least $68,000/year (~$33/hour full-time) to afford the median rent of $1,702/mo in ZIP 48124. The local median household income is $81,796/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 48124?

Rent in ZIP 48124 has decreased 2.6% over the past year as of July 20, 2026, offering some relief compared to 12 months ago.

Is ZIP 48124 an affordable place to rent?

ZIP 48124 is considered affordable for renters. At $1,702/mo, rent takes approximately 25% of the local median household income ($81,796/yr). The standard benchmark is 30%. ZIP 48124 falls comfortably within that range.

What percentage of ZIP 48124 residents rent vs. own?

According to Census data, approximately 18.1% of ZIP 48124 households are renters, while 81.9% are owner-occupied. ZIP 48124 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 48124 compare to the rest of Dearborn?

ZIP 48124 is more affordable than Dearborn overall. At $1,702/mo, it's $3 below the Dearborn citywide median of $1,705/mo.

When was rent data for ZIP 48124 last updated?

Rent data for ZIP 48124 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
25%
AFFORDABLE

At $1,702/mo, rent takes ~25% of ZIP 48124's median household income ($81,796/yr). The standard benchmark is 30%.

ZIP 48124 25%Benchmark 30%
State income tax4.25%
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Schools nearby

Public schools near ZIP 48124 (Dearborn, MI)

Recent submissions

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