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On my 93 AWD that I just bought, I'm going to replace the rear axle assy. It was noisy when I bought it, shop wants at least $500 to fix it and I'm going to replace brakes, springs, shocks, add anti-sway bar so should be not much more work to just replace it (local yards want from $100-250 for one). It's a std. 3.73:1, 7.5". Are these the same from 2wd to AWD? I'm pretty sure that ratio is pretty common for both of those. Can I assume that if the rear axle code says "24" (as on mine) that it's interchangeable? Does this go by certain years as well? I think in about '89 or so they made some suspsension upgrades.
I believe the only difference from AWD to 2WD may be in the companion flange on the rear differential. I think the 2WD may use a different driveshaft/flange configuration than the AWD. If you have to swap flanges, then you will have to replace the front seal, pinion nut and bearing pre-load spacer.
The 7.5" rear end has been around since the 70's in various applications. Check out driveline.com, Ford 7.5" section and there will be listing of the various years and models the unit was used in. This may aid your search. Good luck!
Find a junkyard that has a copy of Hollander's Interchange. They will be able to tell you what years fit as well as if the 8.8 inch rear end will fit. From what I've heard, it seems as if the 7.5 inch rear is a little weak when used on the Aerostar. If you're going to replace the rear anyway, why not get something stronger? The 8.8 rear was available with 3.73 ratio.
The 8.8/3.73/LS axle has served me well, with 187K, under sometimes heavy use. Including piling 1200 pds of roofing in the van and taking some mild off-road trips. I believe in changing the fluid every 50K or less.