The 48506 zip code in Flint tops our ranking of the most affordable places to live in Michigan.
We looked at 328 zip codes in the state, evaluating home values, rental costs, energy rates, property taxes, and five other affordability indicators. We used the data we gathered to calculate our proprietary Affordability Score for each zip code.
Top 10 most affordable places to live in Michigan
| Rank | City | Affordability Score | Median home value | Rental costs |
|---|---|---|---|---|
| 1 | Flint 🥇 | 100 | $78,325 | $805 |
| 2 | Owosso🥈 | 98.7 | $171,154 | $750 |
| 3 | Monroe 🥉 | 98.7 | $196,644 | $850 |
| 4 | Harrison | 98.2 | $106,386 | $1,460 |
| 5 | Saint Louis | 98.0 | $146,309 | $1,460 |
| 6 | Alma | 98.0 | $146,486 | $1,460 |
| 7 | Saginaw | 97.1 | $79,291 | $873 |
| 8 | Detroit | 96.7 | $64,228 | $1,460 |
| 9 | Lansing | 96.5 | $158,384 | $1,098 |
| 10 | Sault Sainte Marie | 96.0 | $166,051 | $1,460 |
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1. Flint
Here's why the 48506 zip code in Flint is Michigan's most affordable place to live.
🔎 Key data about Flint
| Data point | Value | Rank (out of 328 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 100 | No. 1 | N/A |
| Median home value | $78,325[1] | No. 15 | -$189,342.48 |
| Home affordability ratio | 1.8 | No. 10 | -1.8 |
| Home value five-year change | 77.0%[2] | No. 318 | 33.9% |
| Home value one-year forecast | -0.7%[3] | No. 240 | 0.6% |
| Rental costs | $805[4] | No. 2 | -$655 |
| Rent affordability ratio | 1.85% | No. 43 | -0.1% |
| Median household income | $43,630[5] | No. 294 | -$30,411 |
| Property taxes | $1,394[6] | No. 20 | -$1,689 |
| Energy costs | $0.09 kWh[7] | No. 19 | -$0.02 |
Flint's 48506 zip code is the cheapest place to live in Michigan, leading the 328 markets we evaluated.
The median home value is $78,325, making it the 15th-cheapest housing market in the state. Forecasts project a -0.7% change in home values in the next year. Rent in the zip code averages $805 per month, which is the 43rd cheapest amount in Michigan.
The median property tax for homeowners in Flint is $1,394 per household, the No. 20 ranked market in Michigan.
Residents pay $0.09 per kWh of electricity, which ranks No. 19 among Michigan markets.
2. Owosso
The 48867 zip code is the 2nd-cheapest place to live in Michigan.
🔎 Key data about Owosso
| Data point | Value | Rank (out of 328 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 98.7 | No. 2 | N/A |
| Median home value | $171,154[8] | No. 75 | -$96,514.03 |
| Home affordability ratio | 3.0 | No. 84 | -0.6 |
| Home value five-year change | 47.6%[9] | No. 196 | 4.5% |
| Home value one-year forecast | -0.9%[10] | No. 223 | 0.4% |
| Rental costs | $750[11] | No. 1 | -$710 |
| Rent affordability ratio | 1.32% | No. 9 | -0.6% |
| Median household income | $56,695[12] | No. 249 | -$17,346 |
| Property taxes | $1,966[13] | No. 69 | -$1,117 |
| Energy costs | $0.09 kWh[14] | No. 19 | -$0.02 |
Owosso's 48867 zip code has a median home value of $171,154, which is the 223rd-cheapest housing market in Michigan. You can rent for an average of $750 per month. That's the 1st-cheapest price in the state.
The average household income in the zip code is $56,695, which ranks 249th-highest in the state.
Homeowners in Owosso pay a median property tax of $1,966 per year, making it the 69th-most affordable market in Michigan.
Owosso ranks No. 19 among Michigan energy markets. You'll pay $0.09 per kWh of electricity.
3. Monroe
The 3rd-cheapest place to live in Michigan is Monroe's 48161 zip code.
🔎 Key data about Monroe
| Data point | Value | Rank (out of 328 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 98.7 | No. 3 | N/A |
| Median home value | $196,644[15] | No. 93 | -$71,023.70 |
| Home affordability ratio | 3.3 | No. 122 | -0.4 |
| Home value five-year change | 23.0%[16] | No. 7 | -20.0% |
| Home value one-year forecast | -2.3%[17] | No. 20 | -1.0% |
| Rental costs | $850[18] | No. 3 | -$610 |
| Rent affordability ratio | 1.41% | No. 12 | -0.6% |
| Median household income | $60,330[19] | No. 223 | -$13,711 |
| Property taxes | $2,119[20] | No. 88 | -$964 |
| Energy costs | $0.11 kWh[21] | No. 140 | $0.00 |
The No. 93 cheapest housing in Michigan is Monroe's 48161 zip code, with a median home value of $196,644. Rents in the market average $850 per month, making it the 3rd-most affordable rental market in the state.
The median property tax for households in Monroe is $2,119, which makes it the 88th-cheapest place in Michigan. Monroe ranks No. 140 among Michigan markets by energy costs. Residents pay $0.11 per kWh of electricity.
4. Harrison
The 48625 zip code in Harrison comes in at No. 4 on our list of the cheapest places to live in Michigan.
🔎 Key data about Harrison
| Data point | Value | Rank (out of 328 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 98.2 | No. 4 | N/A |
| Median home value | $106,386[22] | No. 26 | -$161,281.72 |
| Home affordability ratio | 2.6 | No. 33 | -1.0 |
| Home value five-year change | 48.1%[23] | No. 203 | 5.0% |
| Home value one-year forecast | -1.3%[24] | No. 190 | 0.0% |
| Rental costs | $1,460[25] | No. 84 | $0 |
| Rent affordability ratio | 1.97% | No. 55 | 0.0% |
| Median household income | $41,045[26] | No. 298 | -$32,996 |
| Property taxes | $1,146[27] | No. 7 | -$1,937 |
| Energy costs | $0.09 kWh[28] | No. 19 | -$0.02 |
The No. 26 cheapest housing market in Michigan is Harrison's 48625 zip code, where the median home value is $106,386. Renters here pay an average of $1,460 per month.
When it comes to energy costs, Harrison ranks 19th among Michigan markets. Residents pay $0.09 per kWh of electricity.
The median property tax for households in the zip code is $1,146, which makes it the 7th-cheapest market in Michigan.
5. Saint Louis
The 48880 zip code in Saint Louis ranks No. 5 among Michigan's most affordable places to live.
🔎 Key data about Saint Louis
| Data point | Value | Rank (out of 328 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 98.0 | No. 5 | N/A |
| Median home value | $146,309[29] | No. 46 | -$121,358.38 |
| Home affordability ratio | 2.6 | No. 37 | -1.0 |
| Home value five-year change | 47.0%[30] | No. 185 | 3.9% |
| Home value one-year forecast | -2.8%[31] | No. 14 | -1.5% |
| Rental costs | $1,460[32] | No. 84 | $0 |
| Rent affordability ratio | 1.97% | No. 55 | 0.0% |
| Median household income | $55,597[33] | No. 256 | -$18,444 |
| Property taxes | $1,809[34] | No. 54 | -$1,274 |
| Energy costs | $0.09 kWh[35] | No. 19 | -$0.02 |
Saint Louis's 48880 zip code has a median home value of $146,309, the 46th-cheapest market in the state. Forecasts project a -2.8% change in home values in the next year.
The median property tax per household in Saint Louis is $1,809. It's the 54th-cheapest market by tax rate in Michigan.
6. Alma
The No. 6 most affordable place to live in Michigan is the 48801 zip code.
🔎 Key data about Alma
| Data point | Value | Rank (out of 328 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 98.0 | No. 6 | N/A |
| Median home value | $146,486[36] | No. 47 | -$121,182.09 |
| Home affordability ratio | 2.7 | No. 45 | -0.9 |
| Home value five-year change | 42.3%[37] | No. 128 | -0.7% |
| Home value one-year forecast | -2.7%[38] | No. 16 | -1.4% |
| Rental costs | $1,460[39] | No. 84 | $0 |
| Rent affordability ratio | 1.97% | No. 55 | 0.0% |
| Median household income | $53,601[40] | No. 266 | -$20,440 |
| Property taxes | $1,837[41] | No. 59 | -$1,246 |
| Energy costs | $0.09 kWh[42] | No. 19 | -$0.02 |
The back half of our top 10 kicks off with Alma's 48801 zip code, which has the 47th-cheapest home values in Michigan. The median home value is $146,486. Rents average $1,460 per month, making it the 84th-most affordable rental market in the state.
Residents pay $0.09 per kWh of electricity. It's the 19th-cheapest energy market.
7. Saginaw
Saginaw's 48602 zip code is the 7th-cheapest place to live in Michigan.
🔎 Key data about Saginaw
| Data point | Value | Rank (out of 328 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 97.1 | No. 7 | N/A |
| Median home value | $79,291[43] | No. 16 | -$188,377.06 |
| Home affordability ratio | 1.8 | No. 8 | -1.9 |
| Home value five-year change | 70.5%[44] | No. 312 | 27.4% |
| Home value one-year forecast | 1.0%[45] | No. 326 | 2.3% |
| Rental costs | $873[46] | No. 5 | -$586 |
| Rent affordability ratio | 1.94% | No. 52 | 0.0% |
| Median household income | $44,939[47] | No. 290 | -$29,102 |
| Property taxes | $1,481[48] | No. 27 | -$1,602 |
| Energy costs | $0.09 kWh[49] | No. 19 | -$0.02 |
You'll find the 16th-cheapest home values in Michigan in Saginaw's 48602 zip code. The median value: $79,291. Renters in Saginaw pay an average of $873 per month.
Homeowners in Saginaw pay a median property tax of $1,481 per year, which is Michigan's 27th-most affordable market.
The average household income is $44,939, which ranks 290th-highest in the state.
8. Detroit
The 8th-cheapest place to live in Michigan is Detroit's 48210 zip code.
🔎 Key data about Detroit
| Data point | Value | Rank (out of 328 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 96.7 | No. 8 | N/A |
| Median home value | $64,228[50] | No. 11 | -$203,439.99 |
| Home affordability ratio | 1.8 | No. 9 | -1.8 |
| Home value five-year change | 53.8%[51] | No. 247 | 10.7% |
| Home value one-year forecast | -1.8%[52] | No. 38 | -0.5% |
| Rental costs | $1,460[53] | No. 84 | $0 |
| Rent affordability ratio | 1.97% | No. 55 | 0.0% |
| Median household income | $36,073[54] | No. 314 | -$37,968 |
| Property taxes | $1,192[55] | No. 8 | -$1,891 |
| Energy costs | $0.13 kWh[56] | No. 171 | $0.02 |
The 11th-cheapest housing market in Michigan is Detroit's 48210 zip code, with a median home value of $64,228. Renters pay an average of $1,460 per month, the No. 84 rental market in the state.
The median property tax for households in Detroit is $1,192, which makes it the 8th-cheapest place in Michigan. The average household income of $36,073 ranks 314th.
9. Lansing
Lansing's 48906 zip code sneaks into the top ten of Michigan's most affordable places to live.
🔎 Key data about Lansing
| Data point | Value | Rank (out of 328 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 96.5 | No. 9 | N/A |
| Median home value | $158,384[57] | No. 57 | -$109,284.29 |
| Home affordability ratio | 2.8 | No. 46 | -0.9 |
| Home value five-year change | 47.9%[58] | No. 201 | 4.9% |
| Home value one-year forecast | -1.0%[59] | No. 217 | 0.3% |
| Rental costs | $1,098[60] | No. 21 | -$361 |
| Rent affordability ratio | 1.91% | No. 49 | -0.1% |
| Median household income | $57,445[61] | No. 243 | -$16,596 |
| Property taxes | $2,549[62] | No. 132 | -$534 |
| Energy costs | $0.09 kWh[63] | No. 19 | -$0.02 |
The 57th-cheapest housing market in Michigan is Lansing's 48906 zip code, where the median home value is $158,384. Renters pay an average of $1,098 per month. It's the state's 21st-cheapest rental market.
The median property tax for households within the zip code is $2,549, which makes it the 132nd-cheapest property tax rate in Michigan.
10. Sault Sainte Marie
The final spot on our list of the most affordable places to live in Michigan goes to the 49783 zip code in Sault Sainte Marie.
🔎 Key data about Sault Sainte Marie
| Data point | Value | Rank (out of 328 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 96.0 | No. 10 | N/A |
| Median home value | $166,051[64] | No. 66 | -$101,617.24 |
| Home affordability ratio | 2.9 | No. 57 | -0.7 |
| Home value five-year change | 34.2%[65] | No. 36 | -8.9% |
| Home value one-year forecast | -3.3%[66] | No. 7 | -2.0% |
| Rental costs | $1,460[67] | No. 84 | $0 |
| Rent affordability ratio | 1.97% | No. 55 | 0.0% |
| Median household income | $57,667[68] | No. 241 | -$16,374 |
| Property taxes | $2,117[69] | No. 86 | -$966 |
| Energy costs | $0.11 kWh[70] | No. 158 | $0.00 |
The 66th-most affordable market in Michigan is Sault Sainte Marie's 49783 zip code. The median home value is $166,051. Rent in the market costs $1,460 per month on average, making it the 84th-most affordable rental market in Michigan.
The median property tax for households in Sault Sainte Marie is $2,117, which is the 86th-cheapest property tax rate in the state.
Sault Sainte Marie ranks No. 158 among Michigan markets by energy costs, with households paying $0.11 per kWh of electricity.
How we ranked the most affordable places in Michigan
We evaluated 328 zip codes in Michigan with a population over 10,000 on nine metrics. We then assigned each market an Affordability Score based on its weighted and combined rankings.
Often the zip code we identify will represent an entire city or portion of a city.
Occasionally the zip code we identify will encompass an area that includes one or more small towns. In these cases, the data we’ve gathered applies to the entire zip code, not just the single town we’re using to help identify the zip code's location.
If you’re looking to move to one of these affordable places, we recommend doing additional research to make sure the costs in the area — and the quality of life it offers — meet your specific needs.
Methodology: What is an Affordability Score?
Our proprietary Affordability Score is a score on a scale of 0 (worst in state) to 100 (best in state) that estimates the affordability of a particular zip code. It takes into account these key data points for each zip code.
- Median home value: The median home value for each zip code comes from the Zillow Home Value Index. The lower the median home value relative to the median value in Michigan, the higher our score on this component. We assign a weight of 23.8% to median home value.
- Home affordability ratio. The home affordability ratio is the typical median home value divided by the median household income in the zip code, which reveals the number of years of household income needed to afford a home in that zip code. A lower ratio is better because it means more households can afford a home. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 23.8% to the home affordability ratio.
- Home value five-year change: The home value five-year change is the amount that the median home value in the zip code has risen or fallen during the last five years. Our data comes from the Zillow Home Value Index. We assign a weight of 4.8% to the home value five-year change.
- Home value one-year forecast: The home value one-year forecast comes from Zillow Forecast data. It projects how much home values in the zip code are forecasted to change in the next year. We assign a weight of 4.8% to the home value one-year forecast.
- Rental costs. The rental costs are the observed rents in the zip code, sourced from the Zillow Observed Rent Index. The index includes "listed rents that fall into the 40th to 60th percentile range for all homes and apartments in a given region." We assign a weight of 11.9% to rental costs.
- Median household income: The inflation-adjusted median household income figures for the zip code comes from the U.S. Census American Community Survey. We assign a weight of 4.8% to median household income.
- Rent affordability ratio. The rent affordability ratio is the ratio of rental costs divided by median household income, which provides the percentage of household income needed to pay a typical month’s rent in the zip code. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 11.9% to the rent affordability ratio.
- Property taxes: The property tax figures are the median real estate taxes paid in the zip code, sourced from the U.S. Census American Community Survey. The lower the property tax rate relative to the Michigan average, the higher our score on this component. We assign a weight of 7.1% to property taxes.
- Energy costs: The energy costs are the costs of a kilowatt hour (kWh) of residential electricity in the zip code, sourced from the U.S. Department of Energy. The lower the cost of electricity relative to the Michigan average, the higher our score on this component. We assign a weight of 7.1% to energy costs.
