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ZIP Code · MI

ZIP 48640

Part of Midland, MI
Pop. 32,492·Midland County·140th most expensive ZIP in Michigan
Median rent (all units)
$1,202/mo
Year-over-Year
-15.1%
Month-over-Month
-19.8%
vs US Median
-$763
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 48640 · $1,202
More affordable than 92% of US ZIP codes · National median $1,965/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: July 20, 2026

Annual cost
$14,424/yr
At $1,202/mo median
Location
StateMI
CountyMidland County
Rent Market Meter
Strong Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are down 15.1% year-over-year. Push hard on price, concessions, and lease terms.
Based on rent-price momentum (-15.1% YoY, -19.8% 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: July 20, 2026

ZIP code 48640 covers Midland, MI. The median rent here is $1,202/mo as of July 2026. A 1-bedroom rents for a median of $880/mo. A 2-bedroom rents for a median of $1,140/mo.

At 18% of local median household income ($80,574/yr), ZIP 48640 ranks as affordable compared to the national benchmark of 30%. Rents have decreased 15.1% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 48640?

As of July 20, 2026, the median monthly rent in ZIP 48640 (Midland, MI) is $1,202. This is based on aggregated data from public sources and community submissions.

How does ZIP 48640 rent compare to the US average?

ZIP 48640's median rent of $1,202/mo is $763 (39%) below the US national median of $1,965/mo.

How does ZIP 48640 compare to other ZIPs in Michigan?

ZIP 48640 is among the more affordable ZIP codes in Michigan, ranking #140 out of 165 ZIPs at $1,202/mo.

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 $48,000/year (~$23/hour full-time) to afford the median rent of $1,202/mo in ZIP 48640. The local median household income is $80,574/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 48640?

Rent in ZIP 48640 has decreased 15.1% over the past year as of July 20, 2026, offering some relief compared to 12 months ago.

Is ZIP 48640 an affordable place to rent?

ZIP 48640 is considered very affordable for renters. At $1,202/mo, rent takes approximately 18% of the local median household income ($80,574/yr). The standard benchmark is 30%. ZIP 48640 falls comfortably within that range.

What percentage of ZIP 48640 residents rent vs. own?

According to Census data, approximately 25% of ZIP 48640 households are renters, while 75% are owner-occupied. ZIP 48640 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 48640 compare to the rest of Midland?

ZIP 48640 is more affordable than Midland overall. At $1,202/mo, it's $281 below the Midland citywide median of $1,483/mo.

When was rent data for ZIP 48640 last updated?

Rent data for ZIP 48640 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
18%
VERY AFFORDABLE

At $1,202/mo, rent takes ~18% of ZIP 48640's median household income ($80,574/yr). The standard benchmark is 30%.

ZIP 48640 18%Benchmark 30%
State income tax4.25%
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Schools nearby

Public schools near ZIP 48640 (Midland, MI)

Recent submissions

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