48075, Southfield, MI

The 48075 zip code of Southfield, Michigan has a population of over 248,000 people and a median household income of over $101,000. The home equity and home prices in this zip code are both very high. In fact, the average home equity in this zip code is $1,835,000 and the average home price is $527,500. This means that the majority of homes in this zip code are worth at least twice as much as the median household income.

One reason why the homes in this zip code are so valuable is that they are located in one of the most affluent areas in Michigan. Southfield is known for its high-quality schools and excellent infrastructure, which makes it an attractive place to live. Additionally, there is a large number of businesses and jobs located in this area, which helps to support the high home values.

Despite these high values, there are still some homes available for purchase in this zip code. This indicates that there is still room for growth in the market for homes here. In addition, many people who live in this area may be able to afford to buy a home even if their current home equity does not exceed their median household income. This suggests that there is potential for more homeownership opportunities here over time.