48224, Detroit, MI

Detroit is one of the most economically depressed cities in the United States. The 48224 zip code is home to a large percentage of Detroit's population, and it has been struggling with high levels of unemployment and poverty for many years. In fact, according to the 2010 census, almost half (47.8%) of the residents in the 48224 zip code are living below the poverty line.

Despite these challenges, there have been some positive developments in the 48224 zip code over recent years. For example, median home prices have increased by almost 50% since 2007, which is much faster than average nationwide growth rates during that time period. Additionally, home equity levels have also increased significantly over this same period – as of September 2016, homeowners in the 48224 zip code had an average net worth of $146,000.

Despite these positive trends, there are still many challenges facing residents in the 48224 zip code – including high levels of unemployment and poverty. As a result, it will be important to watch closely how home equity and home prices continue to evolve over time in order to better understand how these factors are impacting residents' lives and overall economic conditions in this area.