Median home value in zip code 48062 (Richmond, MI) is $298,297, up 4.4% year over year. Part of the Detroit-Warren-Dearborn, MI metropolitan area.

Home Value$298,297

YoY Change

+4.4%

Prices rising — worse for buyers.

Affordability

Enter your income for 48062 (Richmond).

Income (annual)

Down Payment

$59,659 on $298,297

Example: $75,000 household income. Change it above to see your own.

Stretch33.3% of income

Above 28% but manageable with cuts.

PITI$2,084

P/I33.3%

Afford$250K

Gap-$48K

P&I $1,508Tax $442Ins $133

6.50% 30yr, 20% down, county tax + MI ins. 28% per HUD.

Home Buying Kit For Dummies (2025)Financing, negotiation, closing

Metro Analysis

48062 is part of the Detroit-Warren-Dearborn, MI metropolitan area. See full stress scores, crash risk, early warning signals, and 12-month price forecast for the metro.

View Detroit-Warren-Dearborn, MI analysis

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