48306, Rochester, MI

Rochester, MI is located in the southeastern corner of Michigan and has a population of around 210,000. The 48306 zip code covers much of Rochester and has a median home value of $101,500. Home equity is important to many people in Rochester because it can provide a cushion during difficult times, help with retirement planning, and provide an opportunity for investment.

The average home value in the 48306 zip code increased by 7% from 2016 to 2017. This growth was likely due to strong demand for housing in Rochester and the overall economy being strong. However, there is some concern that prices may not continue to grow at this rate due to increasing interest rates and limited supply. If prices do not continue to increase, it could lead to more people being priced out of the market or reduced access to credit for those who are already homeowners.

Home equity is important for many reasons in Rochester. It can provide a cushion during difficult times, help with retirement planning, and provide an opportunity for investment. If prices do not continue to increase, it could lead to more people being priced out of the market or reduced access to credit for those who are already homeowners.