48104, Ann Arbor, MI

Ann Arbor, Michigan is a city located in Washtenaw County. The city has a population of around 113,000 people and is home to the University of Michigan. Ann Arbor was founded in 1817 and became a city in 1837. The economy of Ann Arbor is based largely on the university and its students. However, the city also has a growing technology sector that employs many people.

Home equity is an important part of the economy for many cities and towns across America. Home equity allows homeowners to borrow money against their homes to finance other activities or expenditures. Over time, homeowners can use this money to pay down debt or invest in other assets. In some cases, home equity can be used to purchase a new home or refinance an existing one.

The 48104 zip code covers much of eastern Ann Arbor including the downtown area as well as several residential neighborhoods including Schempp Hill, Ypsilanti Township, Dexter Township and Plymouth Township. According to data from Zillow®, median home values in this zip code were $269,500 as of September 2017 which is above the national median home value of $217,500 but below the median home value for Washtenaw County at $291,100 . Additionally , Zillow reports that there was an increase of 5% year-over-year in prices within this zip code which indicates that there may be potential for further appreciation over time .

While it's important to note that prices within this zip code are relatively high when compared with other areas within Michigan , it's also worth noting that incomes are relatively high here too which could help contribute to price appreciation over time . Additionally , while there may be some competition from other nearby areas for buyers (due to limited inventory), Ann Arbor still appears to be one of the most desirable places to live in Michigan .

Overall , while there may be some challenges ahead (due primarily to low inventory), it appears that prices within the 48104 zip code will continue to rise over time given current trends