48370, Oxford, MI

Oxford, MI is located in the 48370 zip code. According to the 2010 census, Oxford has a population of 5,851. Oxford's median household income was $72,977 and its median family income was $86,542. Oxford's per capita income was $36,711.

Home equity is a key factor in home prices. Home equity is the difference between the value of a home and what a homeowner owes on that home. In most cases, homeowners use their home equity to pay down debt or to purchase other assets. Home prices are affected by many factors including interest rates, supply and demand, and local economic conditions.

According to Zillow®, Oxford's home value averaged $184,500 in 2017 which ranked as the fifth highest in Michigan and fourth highest in Wayne County (behind Detroit; Dearborn; Livonia). The average list price for homes within Oxford during 2017 was $248,000 which ranked as the third highest in Michigan and second highest in Wayne County (behind Detroit).

The 48370 zip code has seen an increase in home values over the past few years due to strong local economies and low interest rates. In addition to strong local economies, low interest rates have helped fuel increased demand for homes within this zip code. As of September 2018 there were 2 active listings within this zip code which accounted for 5% of all listings within this zip code (compared to 1 active listing during September 2017).

Despite seeing an increase in home values over recent years, it is important to keep in mind that there are still areas of this zip code that are less expensive than other areas of Michigan or Wayne County. Additionally, while there has been an increase in demand for homes within this zip code over recent years it is important to keep in mind that there may be limited inventory available when looking to buy a home within this area