48397, Warren, MI

Warren is a small city in the Metro Detroit area, located about 25 miles west of Detroit. According to the 2010 census, the population of Warren was 16,824. The median household income in Warren was $62,912, which is higher than the statewide median of $53,046. Home prices in Warren have increased significantly over the past few years and are now among some of the highest in Michigan.

The 48397 zip code covers much of eastern Warren and has a population density of about 2,000 people per square mile. The majority (about 60%) of homes in this zip code are single-family homes. The average home price in this zip code is $128,000, which is significantly higher than the statewide average of $86,500. In addition to high home prices, Warren also has high levels of home equity (about 50% more than the statewide average). This indicates that many homeowners in Warren have a significant amount of equity in their homes relative to their overall debt levels.

One reason for this strong demand for housing stock and high home prices in Warren may be its close proximity to Detroit. Many residents commute into Detroit for work each day and then return home at night. This constant influx and outflow of residents has caused housing prices to increase rapidly throughout most parts of Metro Detroit over the past few years. Another factor that may contribute to high home values and equity levels in Warren is its low unemployment rate (3% as opposed to 5% statewide). This indicates that there are plenty of jobs available within commuting distance from many homeowners here.