ZIP Code · MI

ZIP 48340

Part of Pontiac, MI

Pop. 25,669·Oakland County·113th most expensive ZIP in Michigan

Median rent (all units)

$1,328/mo

Year-over-Year

-1.9%

Month-over-Month

+0.3%

vs US Median

-$604

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 48340 · $1,328

More affordable than 85% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$940

1 BR

$1,050

2 BR

$1,320

3 BR

$1,610

4 BR+

$1,750

Research median

$1,320/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

Compared with the peak

Rent in ZIP 48340 is 2.9% below its high of $1,368 in August 2025, at $1,328 as of September 2026.

Past year vs. the rest of Michigan

Rent in ZIP 48340 changed -1.9% over the year to September 2026. Across the 134 Michigan ZIP codes Zillow tracks, the typical change was +4.4%.

Recent direction

Rent rose in 5 of the last 12 months.

What a typical income covers

30% of the median household income ($47,891) is $1,197 a month. That covers HUD's Fair Market Rent for up to a 1-bedroom ($1,050); a 2-bedroom is $1,320.

From Zillow's monthly rent index (ZORI) for ZIP 48340. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$15,936/yr

At $1,328/mo median

Location

CityPontiac

StateMI

CountyOakland 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 (-1.9% YoY, +0.3% MoM), not inventory.

Demographics

Who lives here

ZIP 48340 (Pontiac, MI) is roughly split between renters and owners, has a median income below the national average, 13.9% of residents hold a bachelor's degree or higher.

Population

25,669

Median income

$47,891

Median age

34.6

Renters

54.3%

Age distribution

22.5%

28%

25.5%

13.4%

Under 1822.5%

18–3428%

35–5425.5%

55–6410.6%

65+13.4%

Gender

47.7%

52.3%

Male47.7%

Female52.3%

Race & ethnicity

29%

30%

33%

White29%

Black30%

Hispanic33%

Asian5.1%

Other2.9%

Education (25+)

17.2%

40.1%

28.8%

13.9%

No HS diploma17.2%

HS diploma40.1%

Some college28.8%

Bachelor's+13.9%

Housing tenure

45.7%

54.3%

Owner45.7%

Renter54.3%

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

2023 vs 2026

How ZIP 48340 in Pontiac, MI has changed in 5 years

Rent

$1,165 → $1,328

up 14.0%

Income

$40,982 → $47,891

up 16.9%

Population

26,233 → 25,669

down 2.1%

Renter share

58% → 54.3%

-3.7 pts

Bachelor's+

13% → 13.9%

+0.9 pts

Median age

32.2 → 34.6

+2.4 yrs

Rent in ZIP 48340 in Pontiac, MI has climbed 14.0% since 2023, going from about $1,165 per month to roughly $1,328 today. On the earnings side, the typical household in ZIP 48340 in Pontiac, MI now reports about $47,891, up from $40,982 in 2021. Headcount in the area went from 26,233 to 25,669 between 2021 and 2024, a 2.1% change. About 54.3% of households rent today, against 58% in 2021. For context, the 2023 to 2026 window covers an unusually volatile run for US rents nationally, and ZIP 48340 in Pontiac, MI reflects that arc in its own way.

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Local insights

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About renting in ZIP 48340

Last updated: October 17, 2026

ZIP code 48340 covers Pontiac, MI. The median rent here is $1,328/mo as of October 2026. A 1-bedroom rents for a median of $1,050/mo. A 2-bedroom rents for a median of $1,320/mo.

At 33% of local median household income ($47,891/yr), ZIP 48340 ranks as moderate compared to the national benchmark of 30%. Rents have decreased 1.9% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 48340?

To keep rent at or below 30% of gross income, you would need to earn at least $53,000/year (about $25/hour full-time) to afford the median rent of $1,328/mo in ZIP 48340. The local median household income is $47,891/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 48340?

Rent in ZIP 48340 has fallen 1.9% over the past year as of September 2026. It sits 2.9% below its high of $1,368 in August 2025.

How does ZIP 48340 compare to other ZIPs in Michigan?

ZIP 48340 is one of the more affordable among Michigan ZIP codes for rent, ranking #113 of 168 at $1,328/mo. Over the year to September 2026, rent in ZIP 48340 changed -1.9%, against a typical +4.4% across the 134 Michigan ZIP codes Zillow tracks.