48118, Chelsea, MI

Chelsea, Michigan is located in the 48118 zip code. Chelsea has a population of approximately 5,000 people. Chelsea is a small town that was founded in 1835. Chelsea is known for its beautiful architecture and historical sites.

The median home value in the 48118 zip code is $128,500. The home equity in the 48118 zip code is $86,700. The home prices have been increasing over the past few years due to an increase in demand and limited supply of homes available for purchase. The average sales price for a single family home has increased by over 20% since 2013.

There are many factors that contribute to the increase in home prices including: an increase in demand due to an influx of new residents and businesses; low interest rates; and limited supply of homes available for purchase. There are also a number of restrictions on housing development that have contributed to the high demand for homes within the 48118 zip code including: zoning laws that restrict housing density; environmental regulations that require significant investment in infrastructure; and local ordinances that prohibit or restrict development near protected areas such as lakes or forests.

Despite these challenges, there are still opportunities available for buyers within the 48118 zip code who are willing to invest time and money into researching their options and preparing their proposal package. There are also a number of mortgage companies located within the 48118 zip code who can help buyers obtain financing for their home purchase.