48198, Ypsilanti, MI

The 48198 zip code of Ypsilanti, MI has a median home value of $158,000. The home equity in this zip code is $64,000. This means that the homeowners in this zip code have a net worth of $112,000. The average home price in Michigan is $169,900 so the homeowners in this zip code are doing well compared to the rest of the state.

There are a lot of factors that contribute to home prices and home equity. Some important factors include: location (near major cities or suburbs), size and condition of the house, number and type of bedrooms and bathrooms, amenities (pools, garages), schools and neighborhood quality.

The 48198 zip code is located in southeastern Michigan which makes it more affordable than other parts of the state. There are also a lot more houses for sale here than in other parts of Michigan so there is competition for homes as well as homes that are available for purchase. The majority (86%)of homes here were built before 1990 which means they are likely older and may need some repairs or updates but they're still relatively affordable compared to newer houses on average.

There has been an increase in demand for homes in Ypsilanti over the past few years due to its affordability and good school system. As more people move into the area or decide to buy here because of its great schools, prices will continue to go up as there's limited supply relative to demand.