48467, Port Austin, MI

The 48467 zip code of Port Austin, MI has a median home value of $128,000 and a median home equity value of $146,000. This is significantly higher than the Michigan statewide median home value of $119,500 and the national median home equity value of $117,200. The 48467 zip code also has a significantly higher than average percentage of homes with a mortgage at 88%. This indicates that homeowners in this zip code are more likely to have access to affordable financing options than homeowners in other areas of Michigan and the United States.

One reason for the high home values in the 48467 zip code is likely due to its proximity to both Detroit and Lansing. These two major metropolitan areas are known for having high concentrations of jobs and households, which can lead to increased demand for housing. Additionally, Port Austin is located on Lake Huron which makes it an attractive location for people looking for waterfront property or homes close to recreational activities.

Despite the high prices in the 48467 zip code, there are still opportunities available for buyers who are looking for quality homes at reasonable prices. There are several neighborhoods in this area that have lower home values but still offer plenty of amenities and space. Additionally, many homeowners in this area have taken advantage of low interest rates over the past few years by refinancing their mortgages or using HELOCs (home equity loans). As long as buyers continue to search within this zip code for quality properties that fit their needs and budget they should be able to find something that they can afford.