ZIP Code · MI

ZIP 48162

Part of Monroe, MI

Pop. 28,156·Monroe County·125th most expensive ZIP in Michigan

Median rent (all units)

$1,289/mo

Year-over-Year

Stable

Month-over-Month

+0.6%

vs US Median

-$643

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 48162 · $1,289

More affordable than 87% of US ZIP codes · National median $1,932/mo

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$830

1 BR

$920

2 BR

$1,210

3 BR

$1,460

4 BR+

$1,960

Research median

$1,210/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: October 17, 2026

From the history

What the numbers show

What a typical income covers

30% of the median household income ($67,876) is $1,697 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($1,460); a 4-bedroom is $1,960.

Cheaper nearby

ZIP 48161, 4 miles away, rents for 13% less ($1,127/mo), about $1,900 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 48162. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$15,468/yr

At $1,289/mo median

Location

CityMonroe

StateMI

CountyMonroe County

Rent Market Meter

Balanced Market

Renter's MarketBalancedLandlord's Market

Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.

Based on rent-price momentum (+0.0% YoY, +0.6% MoM), not inventory.

Demographics

Who lives here

ZIP 48162 (Monroe, MI) is majority owner-occupied, has a large retiree population, 22.5% of residents hold a bachelor's degree or higher.

Population

28,156

Median income

$67,876

Median age

43.9

Renters

23.4%

Age distribution

19.3%

20.7%

24.2%

14%

21.9%

Under 1819.3%

18–3420.7%

35–5424.2%

55–6414%

65+21.9%

Gender

50.8%

49.2%

Male50.8%

Female49.2%

Race & ethnicity

89.9%

White89.9%

Black3.2%

Hispanic3.1%

Asian0.6%

Other3.2%

Education (25+)

32.6%

35.5%

22.5%

No HS diploma9.5%

HS diploma32.6%

Some college35.5%

Bachelor's+22.5%

Housing tenure

76.6%

23.4%

Owner76.6%

Renter23.4%

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

2021 vs 2026

How ZIP 48162 in Monroe, MI has changed in 5 years

Income

$64,423 → $67,876

up 5.4%

Population

28,647 → 28,156

down 1.7%

Renter share

26% → 23.4%

-2.6 pts

Bachelor's+

22.1% → 22.5%

+0.4 pts

Median household income climbed from $64,423 to $67,876 between 2021 and 2024, a 5.4% shift. Census counts show ZIP 48162 in Monroe, MI losing about 491 residents over the five-year window, down 1.7% on net. The renter share has eased from 26% to 23.4%, with owner-occupied housing accounting for the remainder.

Community

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Local insights

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About renting in ZIP 48162

Last updated: October 17, 2026

ZIP code 48162 covers Monroe, MI. The median rent here is $1,289/mo as of October 2026. A 1-bedroom rents for a median of $920/mo. A 2-bedroom rents for a median of $1,210/mo.

At 23% of local median household income ($67,876/yr), ZIP 48162 ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 48162?

To keep rent at or below 30% of gross income, you would need to earn at least $52,000/year (about $25/hour full-time) to afford the median rent of $1,289/mo in ZIP 48162. The local median household income is $67,876/yr, so the typical household meets that bar.