48073, Royal Oak, MI

The 48073 zip code of Royal Oak, MI has a median home value of $172,000. This is lower than the statewide median home value of $224,500. The 48073 zip code also has a lower home equity percentage than the statewide average of 66%. This indicates that there are more homes in this zip code that are worth less than their original purchase price.

There are several factors that could be contributing to the lower home equity percentage in the 48073 zip code. One possibility is that there are more homes in this zip code that have been damaged or destroyed by weather or other natural disasters. Another possibility is that there are more homes in this zip code that have been purchased using cash rather than through a mortgage or other loan product.

Despite the lower home equity percentage, it is still important for homeowners in the 48073 zip code to maintain their property values and keep up with regular maintenance and repairs. If you're considering selling your home soon, it may be best to consult with a real estate agent who can help you identify any potential issues with your property and make sure you're prepared to list it at an appropriate price.