48117 — Monroe County, Michigan Market Snapshot
Housing market data for zip code 48117 in Monroe County, Michigan. Updated monthly with median prices, days on market, and more.
Market Sales Data
17 sales in 2026 (year to date)
Median Sale Price
$298,000
Days to Sell
17
Homes Sold
17
Inventory
13
Sale-to-List
102.0%
New Listings
25
Price/SqFt
$216
Pending Sales
20
Conforming Loan Available
Most homebuyers in 48117 can comfortably use conventional financing. The median home price of $298,000 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
Homes in 48117 are moving quickly at 17 days on market, indicating healthy buyer demand. Well-priced homes are likely seeing multiple offers.
Sale-to-List Ratio
Homes are selling very close to asking price in 48117 (102.0% sale-to-list ratio), indicating accurate pricing by sellers and steady demand.
Conforming Loan Feasibility
Most homebuyers in 48117 can comfortably use conventional financing. The median home price of $298,000 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 48117 are set at the county level.
2026 Loan Limits — Monroe 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 48117
To purchase the median home at $298,000 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $2,433.
Monthly Payment
$2,433
Income Required
$104,279
Principal & Interest
$1,836/mo
Down Payment (5%)
$14,900
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 48117.
Estimated Monthly Payment
$1,994
Connect with a LoanGraphs Loan Officer
Get expert guidance for zip code 48117. Tell us what you're looking for.