ZIP Code 48723
standardSource:
Caro · Tuscola County · Michigan
- Population
- 12,479
- Median income
- $55,779
- Median home value
- $138,100
- Bachelor's or higher
- 17.6%
- Land area
- 336.4 sq mi
37/sq mi
▼ 27% vs US
higher than 22% of US ZIPs
▼ 50% vs US
higher than 22% of US ZIPs
Median age 46.5
Detroit
ZIP code 48723 in Caro, Michigan has a population of 12,479. The median household income is $55,779, which is 27% below the national average. Median home value is $138,100, 50% below the US average. 17.6% of residents hold a bachelor's degree or higher.
ZIP code 48723 is classified by USPS as a standard delivery area and covers roughly 336.4 square miles in Caro, Tuscola County, Michigan. The area is home to 12,479 residents, producing a population density of 37 people per square mile, and falls within the Detroit time zone. These USPS and Census boundary values drive every downstream statistic on this page, including the benchmarks that compare 48723 against Michigan and the nation.
On the economic side, the median household income for ZIP 48723 sits at $55,779 (24% below the Michigan average), while per-capita income is $30,774. The poverty rate stands at 20.8% and the unemployment rate at 6.2%. On housing, the median home value is $138,100 (37% below the state average) with median rent at $750 per month, and 80.4% of occupied units are owner-occupied, a direct signal of whether 48723 behaves more like a homeowner neighborhood or a renter-heavy ZIP.
Education and household profile round out the picture: 17.6% of adults hold a bachelor's degree or higher, the median age is 46.5, and the average commute is 25 minutes. We also surface 1 nearby ZIP codes within roughly 10 miles and 6 additional ZIPs sharing Tuscola County, so you can benchmark 48723 against its immediate geography rather than a national average alone. Every figure is sourced from the U.S. Census Bureau American Community Survey 5-Year Estimates, HUD Fair Market Rents, and FHFA Home Price Index data, no estimates, no proprietary scoring. Verify with HUD →
Top industries in ZIP 48723
Top 5 sectors by establishment count
Which industries have the most business establishments in ZIP 48723.
- Health care and social assistance
Health care and social assistance
64 establishments
- Retail trade
Retail trade
52 establishments
- Other services (except public administration)
Other services (except public administration)
30 establishments
- Accommodation and food services 24
Accommodation and food services
24 establishments
- Finance and insurance 21
Finance and insurance
21 establishments
What this shows Establishment counts come from the Census ZIP Code Business Patterns program, which counts physical business locations rather than employees or revenue.
Source: U.S. Census Bureau, American Community Survey 5-Year Estimates + ZIP Code Business Patterns + HUD FMR + FHFA HPI ACS demographics, ZBP business establishments, HUD Fair Market Rents, FHFA HPI for ZIP 48723, Caro, MI · 2023 Census ACS 5-Year Estimates use a rolling 60-month sample for stable small-geography estimates; ZBP updated annually; HUD FMR + FHFA HPI updated quarterly/annually.
Quick Facts
12,479
Population
336.4
Area (sq mi)
37
People / sq mi
Detroit
Time Zone
standard
ZIP Type
Who lives in ZIP 48723?
46.5
Median Age
50.7%
Male
49.3%
Female
1.0%
Foreign-Born
Hispanic or Latino is an ethnicity category from the Census Bureau and may overlap with other categories above.
Source: U.S. Census Bureau, ACS 5-Year Estimates (2023)
How much do residents earn?
$55,779
Median Household Income
-24% vs state
$30,774
Per Capita Income
20.8%
Poverty Rate
6.2%
Unemployment Rate
24.9 min
Mean Commute Time
Source: U.S. Census Bureau, ACS 5-Year Estimates (2023)
What is the education profile here?
Source: U.S. Census Bureau, ACS 5-Year Estimates (2023)
What does housing look like?
5,246
Total Housing Units
4,801
Occupied Units
445
Vacant Units
2.33
Avg Household Size
Occupancy Type
$138,100
Median Home Value
-37% vs state
$750
Median Rent
1973
Median Year Built
Source: U.S. Census Bureau, ACS 5-Year Estimates (2023)
How have home values changed over time?
FHFA House Price Index, annual appreciation data based on repeat sales and appraisals
+22.5%
YoY Change (2024)
183
HPI Index (2000 = 100)
+83%
Total Change Since 2000
Home values in ZIP 48723 have increased 22.5% over the past year (2024). Since 2000, this ZIP has seen +83% cumulative appreciation.
| Year | Annual Change | HPI Index |
|---|---|---|
| 2020 | +2.8% | 114 |
| 2021 | +11.3% | 127 |
| 2022 | +12.7% | 143 |
| 2023 | +4.4% | 150 |
| 2024 | +22.5% | 183 |
Source: Federal Housing Finance Agency (FHFA) House Price Index, All-Transactions, Five-Digit ZIP Codes (Developmental Index). Index base = 100 in year 2000. Data through 2024. ZIP codes with few transactions may show missing values.
What businesses operate in this ZIP?
Census Bureau data shows 287 business establishments in ZIP 48723, employing approximately 3,895 people with a combined annual payroll of $195,561,000.
287
Businesses
3,895
Employees
$195.6M
Annual Payroll
14
Industry Sectors
| Industry | Establishments | % of Total |
|---|---|---|
| Health care and social assistance | 64 | 22.3% |
| Retail trade | 52 | 18.1% |
| Other services (except public administration) | 30 | 10.4% |
| Accommodation and food services | 24 | 8.4% |
| Finance and insurance | 21 | 7.3% |
| Professional, scientific, and technical services | 21 | 7.3% |
| Construction | 16 | 5.6% |
| Manufacturing | 14 | 4.9% |
| Real estate and rental and leasing | 10 | 3.5% |
| Information | 6 | 2.1% |
| Administrative and support and waste management and remediation services | 6 | 2.1% |
| Wholesale trade | 5 | 1.7% |
| Transportation and warehousing | 5 | 1.7% |
| Arts, entertainment, and recreation | 5 | 1.7% |
Source: U.S. Census Bureau, ZIP Code Business Patterns (ZBP), 2023. Employment figures may include noise for disclosure avoidance.
Nearby ZIP Codes
Want a side-by-side? Compare 48723 vs 48744 →
| ZIP Code | City | Population | Distance |
|---|---|---|---|
| 48744 | Mayville, MI | 4,615 | 9.6 mi |
More ZIP Codes in Tuscola County
Related Areas
Frequently Asked Questions
What county is ZIP code 48723 in? ▼
What is the population of ZIP code 48723? ▼
What is the median household income in ZIP 48723? ▼
What is the average home value in ZIP 48723? ▼
What is the demographic makeup of ZIP 48723? ▼
How many businesses are in ZIP code 48723? ▼
What are the main industries in ZIP code 48723? ▼
How have home values changed in ZIP code 48723? ▼
What is the education level in ZIP code 48723? ▼
What is the average commute time in ZIP 48723? ▼
What percentage of residents own vs. rent in ZIP 48723? ▼
What is the poverty rate in ZIP code 48723? ▼
ZIP Code Research Guides
Official Data Resources for Caro, MI
Verify and explore additional data for this area using these official government sources.
Source: U.S. Census Bureau, ACS 5-Year Estimates (2023). Business data: Source: Census ZIP Code Business Patterns (ZBP) 2023. Home value trends: Source: FHFA House Price Index (HPI), Five-Digit ZIP Codes.
PlainZIP is not affiliated with the U.S. Census Bureau or any government agency.
Read our methodology , how this data is sourced, computed, and verified.