48187 — Wayne County, Michigan Market Snapshot
Housing market data for zip code 48187 in Wayne County, Michigan. Updated monthly with median prices, days on market, and more.
Market Sales Data
87 sales in 2026 (year to date)
Median Sale Price
$438,000
Days to Sell
11
Homes Sold
87
Inventory
43
Sale-to-List
101.1%
New Listings
136
Price/SqFt
$213
Pending Sales
122
Conforming Loan Available
Most homebuyers in 48187 can comfortably use conventional financing. The median home price of $438,000 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
48187 is an extremely competitive market with homes selling in just 11 days on average. Buyers need pre-approval letters ready before making offers.
Sale-to-List Ratio
Homes are selling very close to asking price in 48187 (101.1% sale-to-list ratio), indicating accurate pricing by sellers and steady demand.
Conforming Loan Feasibility
Most homebuyers in 48187 can comfortably use conventional financing. The median home price of $438,000 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 48187 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 48187
To purchase the median home at $438,000 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $3,506.
Monthly Payment
$3,506
Income Required
$150,249
Principal & Interest
$2,699/mo
Down Payment (5%)
$21,900
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 48187.
Estimated Monthly Payment
$2,861
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