48323, West Bloomfield, MI

West Bloomfield, Michigan is located in the 48323 zip code. The median home value in this zip code is $168,800. The median home equity in this zip code is $101,000. Home prices have increased by 5% over the past year and are projected to increase by another 7% over the next year.

The majority of homes in West Bloomfield are owner-occupied. There are a total of 1,824 homes in this zip code and 853 of those homes are occupied by their owners. This indicates that there is a high demand for housing in West Bloomfield and that homeownership is a desirable status quo. In addition, the percentage of home values that are below market value (meaning they are not subject to any mortgage payments) is only 4%. This indicates that most homeowners in West Bloomfield have enough equity in their homes to cover any potential losses should the market take a downturn.

One reason for the high demand for housing in West Bloomfield may be its proximity to Detroit Metropolitan Wayne County Airport which has been identified as one of America’s top 10 airports by Forbes magazine. Additionally, West Bloomfield has access to major highways and public transportation which makes it easy for residents to get around town.