ZIP Code · MI

ZIP 48602

Part of Saginaw, MI

Pop. 27,127·Saginaw County·160th most expensive ZIP in Michigan

Median rent (all units)

$1,073/mo

Year-over-Year

+5.8%

Month-over-Month

-1.4%

vs US Median

-$859

Reported rents

Falling (Monthly)

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Most AffordableMost Expensive

ZIP 48602 · $1,073

More affordable than 96% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$750

1 BR

$830

2 BR

$1,090

3 BR

$1,400

4 BR+

$1,440

Research median

$1,090/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

Past year vs. the rest of Michigan

Rent in ZIP 48602 changed +5.8% 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 9 of the last 12 months.

What a typical income covers

30% of the median household income ($46,984) is $1,175 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,090); a 3-bedroom is $1,400.

From Zillow's monthly rent index (ZORI) for ZIP 48602. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$12,876/yr

At $1,073/mo median

Location

CitySaginaw

StateMI

CountySaginaw County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (5.8% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+5.8% YoY, -1.4% MoM), not inventory.

Demographics

Who lives here

ZIP 48602 (Saginaw, MI) is majority owner-occupied, has a median income below the national average, 16.5% of residents hold a bachelor's degree or higher.

Population

27,127

Median income

$46,984

Median age

36.1

Renters

35.8%

Age distribution

24.7%

24%

24.1%

13.3%

13.8%

Under 1824.7%

18–3424%

35–5424.1%

55–6413.3%

65+13.8%

Gender

49.5%

50.5%

Male49.5%

Female50.5%

Race & ethnicity

53.7%

26.9%

17.9%

White53.7%

Black26.9%

Hispanic17.9%

Other1.3%

Education (25+)

16.2%

33.2%

34.1%

16.5%

No HS diploma16.2%

HS diploma33.2%

Some college34.1%

Bachelor's+16.5%

Housing tenure

64.2%

35.8%

Owner64.2%

Renter35.8%

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

2021 vs 2026

How ZIP 48602 in Saginaw, MI has changed in 5 years

Income

$38,724 → $46,984

up 21.3%

Population

27,911 → 27,127

down 2.8%

Renter share

41.8% → 35.8%

-6.0 pts

Bachelor's+

15.2% → 16.5%

+1.3 pts

Median household income rose from $38,724 to $46,984 between 2021 and 2024, a 21.3% shift. The population has contracted by 2.8% since 2021, moving from about 27,911 residents to roughly 27,127. Renters now make up 35.8% of households, compared with 41.8% five years ago.

Community

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Local insights

Tips for renters in ZIP 48602

About renting in ZIP 48602

Last updated: October 17, 2026

ZIP code 48602 covers Saginaw, MI. The median rent here is $1,073/mo as of October 2026. A 1-bedroom rents for a median of $830/mo. A 2-bedroom rents for a median of $1,090/mo.

At 27% of local median household income ($46,984/yr), ZIP 48602 ranks as affordable compared to the national benchmark of 30%. Rents have increased 5.8% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 48602?

To keep rent at or below 30% of gross income, you would need to earn at least $43,000/year (about $21/hour full-time) to afford the median rent of $1,073/mo in ZIP 48602. The local median household income is $46,984/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 48602?

Rent in ZIP 48602 has risen 5.8% over the past year.

How does ZIP 48602 compare to other ZIPs in Michigan?

ZIP 48602 is one of the more affordable among Michigan ZIP codes for rent, ranking #160 of 168 at $1,073/mo. Over the year to September 2026, rent in ZIP 48602 changed +5.8%, against a typical +4.4% across the 134 Michigan ZIP codes Zillow tracks.