48050, New Haven, MI

The 48050 zip code of New Haven, MI has a population of around 30,000 people and is located in the southeast corner of the state. The median home value in this zip code is $128,000 which is lower than the Michigan statewide median home value of $157,500. The 48050 zip code also has a lower than average percentage of homeowners with a mortgage at just 54% compared to the statewide average of 61%. This suggests that there may be more buyers in this area looking to purchase homes without taking on a large amount of debt.

One factor that could be contributing to these low home values and mortgage rates in the 48050 zip code is that it has one of the lowest unemployment rates in Michigan at 3.5%. This could be encouraging more people to become homeowners and invest their money into property instead of risking it on an uncertain job market. Additionally, many people who live in this area commute into Detroit or Ann Arbor which may also contribute to higher home values as those areas are generally more expensive than smaller towns.