US5.com
  1. Home
  2. States
  3. Michigan
  4. ZIP 48731
  5. Housing & Real Estate
Elkton village, MI

ZIP 48731 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Working ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 48731

Median Home Value
$105,600
Median Rent
$568
Affordability Snapshot
$29,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$678/mo PITI).

14%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

2.1x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

15.5 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 48731 in Elkton village, MI, a household would need roughly $29,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $678. That sits below the local median household income ($50,288), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Vacancy rate 13% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
73.8%+13% vs US avg
x
Vacancy Rate
13.1%+27% vs US avg
x
Broadband Access
80.2%-8% vs US avg
x
4+ Bedrooms
3.4%-77% vs US avg
x
Built Pre-1939
10.5%-18% vs US avg
x
Built Post-2014
0.0%
x
Rent Burden >30%
32.0%-36% vs US avg
x
Mortgage-Free
55.4%+45% vs US avg
x
$105,600
Home Value
$568
Rent
1964
Year Built
2011
Moved In

Residents have lived here since ~2011 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached80.4%
  • 1-unit attached0.3%
  • 2-9 units9.5%
  • 10+ units2.0%
  • Mobile home & other7.9%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$105,600
Median rent$568
Owner-occupied73.8%
Vacant13.1%
Price-to-income2.1x
Est. income to buy$29,000