ZIP 48723 · Caro, Michigan

Population

11,678 people call ZIP 48723 home.

11,678

people.

Census ACS 5-year, 2020-2024. Sources: Census ACS 5-year

Rent

Median rent is up 21% since the 2010–2014 survey, before inflation.

$750

a month. Michigan's median is $1,129.

Census ACS 5-year, 2020-2024 (latest), with earlier 5-year windows. Sources: Census ACS 5-year

Room to build

Local wages can carry more rent than the median charged today.

$910–$1,365

is the monthly rent range local workforce wages support.

• $750 median

Supportable rent computed by the Almanac from 2021 source wage data. Median rent: Census ACS 5-year, 2020-2024. Sources: Computed by the Almanac, Census ACS 5-year

Building

Most of the housing here is older than 2000.

• 89% of all homes were built before 2000

Census ACS 5-year, 2020-2024. Sources: Census ACS 5-year

Units needed

Closing the gap would add 0.2–1.0% to the 5,246 homes here.

9–50

is the estimated number of missing housing units, from the lowest to the highest of three estimates.

Range computed by the Almanac from 2021 jobs and household data, using three demand models: 1% of jobs located here, 1% of renter households, and a rate by town size applied to renters. The low end is the lowest of the three and the high end the highest. It is an estimate, not a count. Sources: Computed by the Almanac

Home value

A median home costs 40% less than Michigan's.

$138,100

median home value in ZIP 48723.

• $138,100 ZIP 48723
• $231,600 Michigan
• $332,700 U.S.

Census ACS 5-year, 2020-2024. Sources: Census ACS 5-year