48098, Troy, MI

The 48098 zip code of Troy, MI has a population of around 34,000 people. The median household income in this zip code is $75,000, and the median home value is $171,500. This means that the 48098 zip code has a higher median household income and home value than the national average. Additionally, the 48098 zip code has a lower unemployment rate than the national average.

One reason that the 48098 zip code has a higher median household income and home value is that there are more wealthy residents in this area. The 48098 zip code also has a high percentage of homeownership (77%), which contributes to its high median home value. In addition, Troy is an affluent city with a high quality of life, which attracts wealthy residents.

Another reason that the 48098 zip code has a high median home value is that there are fewer homes available for sale in this area than in other areas of Michigan. This shortage of homes for sale leads to increased prices for homes in this area. Additionally, Troy is an affluent city with few new housing developments being built, which keeps demand high for existing homes and drives up prices even further.