48348, Clarkston, MI

The 48348 zip code of Clarkston, MI is located in the Detroit metropolitan area. The median home value in this zip code is $128,000. The average home value in this zip code has increased by 16% over the past five years. In addition, the percentage of homes that are owner-occupied has increased from 66% to 74%. This indicates that there is an increasing demand for housing in this area.

One factor that may have contributed to the increase in home values is the low interest rates that are currently available. This makes it more affordable for people to buy a home and also allows homeowners to borrow against their homes equity. Additionally, there is a shortage of available housing units in this area which may also contribute to the high prices of homes.

Despite these positive trends, there are some risks associated with buying a home in the 48348 zip code of Clarkston, MI. One risk is that interest rates could rise and make it more expensive for people to borrow against their homes equity. Another risk is that the market could become saturated and prices could decrease over time.