48393, Wixom, MI

The 48393 zip code of Wixom, Michigan has a median home value of $184,000 and a median home equity value of $128,000. These values are higher than the statewide median home value of $148,500 and the national median home equity value of $141,700. The reasons for these high values in the Wixom zip code are likely due to its close proximity to Detroit and its large population of affluent residents.

The average household income in the 48393 zip code is $113,000, which is higher than the statewide average household income of $86,500 and the national average household income of $75,600. This high income level is likely due to the affluent population in Wixom as well as its strong job market. Over 60% of households in the 48393 zip code have at least one person who works full-time. Additionally, there are a number of businesses located in Wixom that provide high-paying jobs.

Despite these high incomes and job security, there are still many homeowners in the 48393 zip code who are struggling to afford their mortgages. Approximately 30% of homeowners in this zip code have mortgage payments that exceed 30% of their monthly incomes. This high percentage is likely due to low interest rates and tight housing markets across Michigan and nationwide. In order for more homeowners in this area to afford their mortgages, it will likely be necessary for interest rates to rise or for housing markets to stabilize.