48187, Canton, MI

The Canton, MI 48187 zip code has a median home value of $128,000. This is significantly lower than the state median home value of $217,500. The Canton, MI 48187 zip code also has a lower than average home equity ratio of 36%. This indicates that there are more homes in the zip code that are worth less than the amount of mortgage debt that is owed on them.

There are several factors that could be contributing to this trend. One possibility is that there are more homes for sale in the Canton, MI 48187 zip code than in other areas of Michigan. Another possibility is that some homeowners have taken out high-interest loans to purchase their homes and now owe more on their mortgages than their homes are worth. Finally, it's possible that some homeowners have decided to sell their homes sooner rather than wait for them to become more valuable.

Whatever the reasons may be, it's clear that homeowners in the Canton, MI 48187 zip code face significant challenges when it comes to getting their houses back up to par with what they owe on them. If you're considering buying or selling a home in this area, it's important to consult with a real estate agent who can help you understand your options and make sure you're getting the best deal possible.