48071, Madison Heights, MI

Home equity is the difference between what a homeowner owes on their home and the value of their home. Home prices are the price at which homes are sold in a given area. The 48071 zip code of Madison Heights, MI has seen a rise in home equity and home prices over the past few years.

In 2014, the median home equity in the 48071 zip code was $128,000. This increased to $142,500 by 2016. Over this same time period, home prices also increased by 6%. This suggests that homeowners have been able to leverage their home equity to purchase additional property or invest in other ventures.

The 48071 zip code is located in southeastern Michigan and has a population of around 60,000 people. The majority of homeowners in this area are middle-class families who have been able to benefit from rising home values and increasing equity within their homes. There is evidence to suggest that this trend will continue as long as there is strong demand for housing within this area and as long as interest rates remain low.