ZIP Code 48638 — Saginaw, MI Home Prices (2026)
The typical home in ZIP 48638 (Saginaw, Michigan) is worth about $205,000 at roughly $128 per square foot — 42% more expensive than the Saginaw median and 30% more affordable than the typical U.S. home.
How 48638 compares
ZIP 48638 is one of the pricier ZIP codes in Saginaw: its typical home value of $205,000 ranks #3 of the 7 Saginaw ZIP codes we track (the citywide range runs from $37,000 in 48607 to $234,000 in 48603). Per square foot it costs about $128, against $113 for Saginaw as a whole, $190 for Michigan, and $195 nationally.
| Area | Typical value | $ / sq ft |
|---|---|---|
| ZIP 48638 | $205,000 | $128 |
| Saginaw, MI | $144,000 | $113 |
| Michigan | $251,000 | $190 |
| United States | $294,000 | $195 |
Home value by size in 48638
Using this ZIP’s rate of about $128 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 | $128,000 |
| 1,500 sq ft | $192,000 |
| 2,000 sq ft | $256,000 |
| 2,500 sq ft | $320,000 |
| 3,000 sq ft | $384,000 |
Salary needed to buy a home in ZIP 48638
To buy the typical $205,000 home in ZIP 48638 with 20% down, you need a household income of roughly $56,000 a year (about $1,300 a month for the mortgage, taxes, and insurance). With 10% down the bar rises to about $66,000, because the loan is bigger and mortgage insurance kicks in.
| Down payment | Cash down | Monthly payment | Income needed |
|---|---|---|---|
| 5% (+PMI) | $10,300 | $1,620/mo | $69,000/yr |
| 10% (+PMI) | $20,500 | $1,550/mo | $66,000/yr |
| 20% | $41,000 | $1,300/mo | $56,000/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 48638
At about $128 per square foot, here is roughly how much home different budgets get you in ZIP 48638:
| Budget | Approx. size | What that looks like locally |
|---|---|---|
| $150k | 1170 sq ft | below the local median — condos, smaller or older homes |
| $200k | 1560 sq ft | around the typical home here |
| $250k | 1950 sq ft | around the typical home here |
| $300k | 2340 sq ft | above the median — larger homes or the pricier ZIPs |
| $400k | 3130 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 48638 home.
Estimate a specific home in 48638
The estimator below is pre-set to ZIP 48638 — pick your home’s size for an instant ballpark, then open the full calculator to adjust beds, baths, and condition.
All Saginaw ZIP codes by home value
Where 48638 sits among Saginaw’s 7 ZIP codes:
| # | ZIP code | Typical value | $ / sq ft |
|---|---|---|---|
| 1 | 48603 | $234,000 | $152 |
| 2 | 48609 | $222,000 | $142 |
| 3 | 48638 (this page) | $205,000 | $128 |
| 4 | 48604 | $144,000 | $113 |
| 5 | 48602 | $85,000 | $74 |
| 6 | 48601 | $59,000 | $56 |
| 7 | 48607 | $37,000 | $36 |
ZIP 48638 home prices: frequently asked
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See the full Saginaw 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.