48235, Detroit, MI

Detroit, Michigan is in the 48235 zip code. Home equity and home prices in this zip code are interesting. The average home value in this zip code is $60,000. However, the median home value is only $37,500. This means that there is a large discrepancy between the average home value and the median home value.

The main reason for this discrepancy is likely due to the fact that a lot of homes in this zip code are owned by investors or people who are not living in them full-time. These types of homeowners may be able to sell their homes for more than the average home value, but they may also be less likely to use their homes as their primary residence.

Another factor that could contribute to the discrepancy between the average and median home values in this zip code is how much new construction has taken place there over recent years. A lot of new homes have been built in Detroit over the past few years, which could lead to an increase in demand for properties within this zip code and an increase in prices.