ZIP Code 48124 — Dearborn, MI Home Prices (2026)
The typical home in ZIP 48124 (Dearborn, Michigan) is worth about $243,000 at roughly $209 per square foot — 2% more affordable than the Dearborn median and 17% more affordable than the typical U.S. home.
How 48124 compares
ZIP 48124 is one of the more affordable ZIP codes in Dearborn: its typical home value of $243,000 ranks #3 of the 4 Dearborn ZIP codes we track (the citywide range runs from $241,000 in 48126 to $317,000 in 48128). Per square foot it costs about $209, against $205 for Dearborn as a whole, $190 for Michigan, and $195 nationally.
| Area | Typical value | $ / sq ft |
|---|---|---|
| ZIP 48124 | $243,000 | $209 |
| Dearborn, MI | $249,000 | $205 |
| Michigan | $251,000 | $190 |
| United States | $294,000 | $195 |
Home value by size in 48124
Using this ZIP’s rate of about $209 per square foot. Condition, lot, and the exact street move these meaningfully — use the estimator below for a home-specific figure.
| Home size | Estimated value |
|---|---|
| 1,000 sq ft | $209,000 |
| 1,500 sq ft | $313,500 |
| 2,000 sq ft | $418,000 |
| 2,500 sq ft | $522,500 |
| 3,000 sq ft | $627,000 |
Salary needed to buy a home in ZIP 48124
To buy the typical $243,000 home in ZIP 48124 with 20% down, you need a household income of roughly $66,000 a year (about $1,540 a month for the mortgage, taxes, and insurance). With 10% down the bar rises to about $79,000, because the loan is bigger and mortgage insurance kicks in.
| Down payment | Cash down | Monthly payment | Income needed |
|---|---|---|---|
| 5% (+PMI) | $12,200 | $1,920/mo | $82,000/yr |
| 10% (+PMI) | $24,300 | $1,830/mo | $79,000/yr |
| 20% | $48,600 | $1,540/mo | $66,000/yr |
Assumes a 30-year fixed mortgage at 6.5%, property tax at 1.1% and insurance at 0.45% of value per year, PMI of 0.75% on loans with less than 20% down, and the standard 28% housing-to-income rule. Your rate, taxes, and HOA will move these — run your own numbers in the mortgage calculator.
What your budget buys in ZIP 48124
At about $209 per square foot, here is roughly how much home different budgets get you in ZIP 48124:
| Budget | Approx. size | What that looks like locally |
|---|---|---|
| $150k | 720 sq ft | below the local median — condos, smaller or older homes |
| $200k | 960 sq ft | around the typical home here |
| $250k | 1200 sq ft | around the typical home here |
| $300k | 1440 sq ft | around the typical home here |
| $400k | 1910 sq ft | above the median — larger homes or the pricier ZIPs |
Wondering where that budget goes further? The relocation calculator ranks hundreds of U.S. cities by what the same money buys — it opens pre-filled with a typical 48124 home.
Estimate a specific home in 48124
The estimator below is pre-set to ZIP 48124 — pick your home’s size for an instant ballpark, then open the full calculator to adjust beds, baths, and condition.
All Dearborn ZIP codes by home value
Where 48124 sits among Dearborn’s 4 ZIP codes:
| # | ZIP code | Typical value | $ / sq ft |
|---|---|---|---|
| 1 | 48128 | $317,000 | $235 |
| 2 | 48120 | $255,000 | $169 |
| 3 | 48124 (this page) | $243,000 | $209 |
| 4 | 48126 | $241,000 | $201 |
ZIP 48124 home prices: frequently asked
What is the average home price in ZIP code 48124? +
What is the price per square foot in 48124? +
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See the full Dearborn home values page, all Michigan cities, or price per square foot by ZIP code nationwide.
Directional estimates from public market data (Realtor.com & Zillow research), not appraisals. A single ZIP contains very different homes; actual values vary and change over time.