48054, East China, MI

The 48054 zip code of East China, MI has a population of about 11,000 people and an average home value of $135,000. The 48054 zip code is located in the eastern part of Michigan and has a median household income of $64,000. The 48054 zip code has a high home equity rate of 88% and a low home price to income ratio of 25%.

There are several factors that contribute to the high home equity rate in the 48054 zip code. First, the 48054 zip code has a high percentage of owner-occupied homes which contributes to the high home equity rate. Second, there is a large number of families who have owned their homes for more than 20 years which contributes to the high home equity rate. Finally, the 48054 zip code has low levels of foreclosure and bankruptcy which contributes to the high home equity rate.

The low home price to income ratio in the 48054 zip code indicates that there is ample opportunity for homeownership in this area. The average homeowner in this area can expect to pay only 25%of their annual income towards mortgage payments compared to an average homeowner who pays 33%of their annual income towards mortgage payments in metro Detroit. This indicates that there is ample opportunity for homeownership in this area without having to sacrifice other important financial priorities such as paying off debt or saving for retirement.