48363, Oakland, MI

The 48363 zip code of Oakland, MI is located in Macomb County and has a population of approximately 117,000. Home equity in this zip code has increased by more than 20% over the past year, which is much higher than the national average of 7%. In addition, home prices in this area have also increased significantly over the past year, reaching a median price of $236,000.

One reason for the high home equity and home prices in this area is likely due to the strong economy. Oakland has been one of the strongest economies in Michigan over the past few years and businesses are expanding rapidly. Additionally, many people are moving to Oakland from other parts of Michigan or from other states because they believe that it is a good place to live.

While there are many reasons why home equity and home prices have increased so much in the 48363 zip code of Oakland, MI over the past year, one important factor is that there are very few housing restrictions in this area. This means that anyone can buy or sell a house regardless of their credit score or income level. This openness to market forces may be contributing to the high home values and rising home equity rates in this area.