48221 — Wayne County, Michigan Market Snapshot
Housing market data for zip code 48221 in Wayne County, Michigan. Updated monthly with median prices, days on market, and more.
Market Sales Data
102 sales in 2026 (year to date)
Median Sale Price
$176,950
Days to Sell
62
Homes Sold
102
Inventory
179
Sale-to-List
97.5%
New Listings
210
Price/SqFt
$95
Pending Sales
154
Conforming Loan Available
Most homebuyers in 48221 can comfortably use conventional financing. The median home price of $176,950 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Market Insights
Market Temperature
With homes sitting for 62 days on average, 48221 favors buyers. There may be opportunities to negotiate below asking price or request seller concessions for closing costs or rate buydowns.
Sale-to-List Ratio
The average home in 48221 sells for 2.5% below asking price (97.5% sale-to-list), suggesting buyers have negotiating leverage in the current market.
Conforming Loan Feasibility
Most homebuyers in 48221 can comfortably use conventional financing. The median home price of $176,950 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Loan limits in 48221 are set at the county level.
2026 Loan Limits — Wayne County
| Property Units | Conforming Limit | FHA Limit |
|---|---|---|
| 1 Unit | $832,750 | $541,287 |
| 2 Units | $1,066,250 | $693,050 |
| 3 Units | $1,288,800 | $837,700 |
| 4 Units | $1,601,750 | $1,041,125 |
Affordability Snapshot — Zip 48221
To purchase the median home at $176,950 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $1,506.
Monthly Payment
$1,506
Income Required
$64,531
Principal & Interest
$1,090/mo
Down Payment (5%)
$8,848
Based on 30-year fixed at 6.75%, 1.8% property tax, $1,800/yr insurance, 28% DTI guideline.
Mortgage Calculator
Estimate your monthly payment for a home in 48221.
Estimated Monthly Payment
$1,245
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