48234, Detroit, MI

The 48234 zip code of Detroit, MI is home to a large population of African Americans. This has led to the area having some of the highest home equity and home prices in the city. In fact, according to Zillow, the median home value in this zip code is $101,000. This high value is due in part to the large number of African American homeowners in this area. Additionally, many of these homeowners have taken advantage of low interest rates over the past few years and have been able to increase their equity levels significantly.

While there are a number of factors that contribute to high home equity and home prices in this zip code, one important factor is race. According to NeighborhoodScout data, African Americans make up a majority (54%) of homes in this zip code. This concentration leads to increased demand for housing and drives up prices. Additionally, black homeowners tend to have more money available for investment than white homeowners do – which also contributes to high home values.

Despite these high values, there are some challenges associated with living in this area. One issue is that there are not as many affordable options available for people who want to buy or rent a house here. Additionally, while racial diversity is increasing in this area – it’s still not as diverse as it is elsewhere in Detroit – which can lead to feeling isolated from other parts of town.