48088, Warren, MI

Warren is a small city in the southeast corner of Michigan. It has a population of just over 21,000 people and is located just outside of Detroit. The 48088 zip code covers much of the city center and includes many neighborhoods that are popular with families. Home prices in Warren have been on the rise for several years now, and they are among the highest in Michigan.

The average home price in Warren was $157,500 as of September 2017. This represents an increase of almost 20% over the previous year and makes Warren one of the most expensive places to buy a home in Michigan. The 48088 zip code has seen particularly strong growth over the past few years, with prices increasing by an average of 34% between 2013 and 2017. This trend is likely to continue as demand continues to outpace supply in this area.

The main drivers behind this increase in home prices are likely to be strong demand from both buyers and sellers alike, as well as low interest rates which make it more affordable for people to borrow money to purchase a home. There is also evidence that there is growing demand for homes near urban areas which tend to be more expensive than those located further away from major cities.

While there are some concerns that rising home prices could lead to increased inequality within communities, overall it seems that Warren residents are benefiting from this trend – especially given that incomes have not kept pace with inflation over recent years. In addition, there is evidence that increased access to credit has helped fuel this market growth – helping more people become homeowners who would otherwise not be able to do so due to financial constraints or other factors..