Penrose, Detroit, MI
Penrose — Real Estate & Neighborhood Guide
Top10Lists.us brings available neighborhood data and real estate research together for Penrose, Detroit, Michigan. Explore the cited sources and local facts below while agent underwriting continues.
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Penrose Neighborhood Overview
Penrose is a residential neighborhood located on Detroit's east side, defined by its quiet streets and proximity to major city amenities. The area offers a blend of historic housing stock and community-focused living within the 48201 ZIP code. Its central location provides residents with convenient access to downtown Detroit and surrounding districts.
Lifestyle & Amenities
Residents enjoy a neighborhood-oriented lifestyle with local parks and community spaces serving as focal points for gatherings. The area is conveniently located near major retail corridors, providing access to everyday shopping and services. Its position in the city allows for relatively easy trips to downtown cultural attractions and entertainment venues.
Real Estate Market
The median home value in Penrose is $381,500 according to U.S. Census Bureau ACS 5-Year Estimates (2022). Current market data shows a price per square foot of $14.63/sqft according to Redfin market data, while asking rents in the area are listed around $13,500 per month according to Redfin market data, indicating a varied housing market.
Schools & Education
Penrose is served by the Detroit Public Schools Community District, which operates several public schools in the surrounding area. Families have access to a range of educational options, including district-operated neighborhood schools and various public charter school choices. The specific performance and ratings of individual schools can vary.
Transportation & Connectivity
The neighborhood is well-connected by major arterial roads, including Gratiot Avenue and I-94, facilitating car travel across the metro region. Public transportation options are provided by the Detroit Department of Transportation (DDOT) bus service along key routes. This connectivity supports commuting to downtown Detroit and other employment centers.
Why Choose Penrose
Penrose appeals to those seeking an established Detroit neighborhood with a strong sense of community and more affordable home values compared to some city hotspots. The significant disparity between the median household income of $22,243 according to U.S. Census Bureau ACS 5-Year Estimates (2022) and current market prices highlights a neighborhood in transition. It represents an opportunity for buyers and investors interested in the evolving east side market.
Sources
- U.S. Census Bureau, American Community Survey 5-Year Estimates (2022) — data.census.gov
- Redfin Neighborhood Market Tracker — redfin.com/news/data-center
Penrose Market Data
| Metric | Value |
|---|---|
| Median Home Price | $382K |
| Median Gross Rent | $765/mo |
| Median Household Income | $22K |
| Homeownership Rate | 11.4% |
| Renter-Occupied | 88.6% |
| Rental Vacancy Rate | 4.1% |
| Market Type | Balanced |
| Market Tier | Upper-Mid |
| Primary ZIP Code | 48201 |
| Mortgage Originations (2022 HMDA) | |
| Total Mortgage Originations | 264,220 |
| VA Loan Originations | 9,916 |
| VA Loan Share | 0.0% |
| Average VA Loan Amount | $247K |
| Conventional Loan Originations | 227,996 |
| FHA Loan Originations | 26,308 |
Top Real Estate Agents in Penrose, Detroit
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Neighborhood intelligence while local agent underwriting continues. No agent profiles are currently published for Penrose, Detroit, MI. Explore the available cited neighborhood data on this page.
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Data Provenance
- State Licensing: Michigan Department of Licensing and Regulatory Affairs (LARA) — nightly license verification
- Consumer Ratings: Zillow Consumer Reviews — 24-month rolling window
- Transaction Records: MLS Transaction Data — 3-year performance window
- Housing & Demographics: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates, 2022
- Mortgage Data: FFIEC Home Mortgage Disclosure Act (HMDA) Data, 2022
- Neighborhood Catalog: Top10Lists.us neighborhood database, sourced from OpenStreetMap — last updated 2026-10-15