ZIP Code · MI

ZIP 48640

Part of Midland, MI

Pop. 32,492·Midland County·110th most expensive ZIP in Michigan

Median rent (all units)

$1,355/mo

Year-over-Year

+7.6%

Month-over-Month

Stable

vs US Median

-$577

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 48640 · $1,355

More affordable than 83% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$870

1 BR

$880

2 BR

$1,140

3 BR

$1,450

4 BR+

$1,610

Research median

$1,140/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 48640 changed +7.6% over the year to September 2026. Across the 134 Michigan ZIP codes Zillow tracks, the typical change was +4.4%.

What a typical income covers

30% of the median household income ($80,574) is $2,014 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($1,610).

From Zillow's monthly rent index (ZORI) for ZIP 48640. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$16,260/yr

At $1,355/mo median

Location

CityMidland

StateMI

CountyMidland County

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 7.6% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+7.6% YoY, +0.0% MoM), not inventory.

Demographics

Who lives here

ZIP 48640 (Midland, MI) is majority owner-occupied, 39.4% of residents hold a bachelor's degree or higher.

Population

32,492

Median income

$80,574

Median age

40.2

Renters

25%

Age distribution

21%

21.7%

25.5%

12.6%

19.2%

Under 1821%

18–3421.7%

35–5425.5%

55–6412.6%

65+19.2%

Gender

48.8%

51.2%

Male48.8%

Female51.2%

Race & ethnicity

89.9%

White89.9%

Black1.1%

Hispanic3.9%

Asian1.8%

Other3.4%

Education (25+)

25.3%

30.9%

39.4%

No HS diploma4.4%

HS diploma25.3%

Some college30.9%

Bachelor's+39.4%

Housing tenure

75%

25%

Owner75%

Renter25%

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

2021 vs 2026

How ZIP 48640 in Midland, MI has changed in 5 years

Income

$71,131 → $80,574

up 13.3%

Population

32,389 → 32,492

up 0.3%

Renter share

26.1% → 25%

-1.1 pts

Bachelor's+

39.1% → 39.4%

+0.3 pts

Median age

38.6 → 40.2

+1.6 yrs

Local incomes tracked alongside that move, going from a median of $71,131 in 2021 to $80,574 more recently.

Community

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Local insights

Tips for renters in ZIP 48640

About renting in ZIP 48640

Last updated: October 17, 2026

ZIP code 48640 covers Midland, MI. The median rent here is $1,355/mo as of October 2026. A 1-bedroom rents for a median of $880/mo. A 2-bedroom rents for a median of $1,140/mo.

At 20% of local median household income ($80,574/yr), ZIP 48640 ranks as affordable compared to the national benchmark of 30%. Rents have increased 7.6% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 48640?

To keep rent at or below 30% of gross income, you would need to earn at least $54,000/year (about $26/hour full-time) to afford the median rent of $1,355/mo in ZIP 48640. The local median household income is $80,574/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 48640?

Rent in ZIP 48640 has risen 7.6% over the past year.

How does ZIP 48640 compare to other ZIPs in Michigan?

ZIP 48640 is in the middle among Michigan ZIP codes for rent, ranking #110 of 168 at $1,355/mo. Over the year to September 2026, rent in ZIP 48640 changed +7.6%, against a typical +4.4% across the 134 Michigan ZIP codes Zillow tracks.